GreenKey Technologies

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GreenKey Technologies
GreenKeyTechLogo.png
Founded 2013
Products Technology products and services, voice collaboration platform
Twitter @GreenKeyTech
Website http://www.greenkeytech.com
Blog http://greenkeytech.com/news/

GreenKey Technologies is a technology company that offers an encrypted global Voice over Internet Protocol (VoIP) network for firms involved in the financial markets. Essentially, the firm's technology takes voice calls and converts them into digital, searchable text and data.

Its patented cloud-based “software turret” replicates the functionality of legacy hardware turrets in a single software program. The firm has offices in Chicago, New York, London and Singapore.

As of 2016, GreenKey’s VoIP network includes more than 300 of the world’s largest banks, brokerage firms and trading firms. [1]

Company History

GreenKey was founded in 2013 and its first product, the "block pool" was launched in September 2013. The block pool is an environment for brokers to accommodate both voice and electronic indications for anonymous block crossings.[2] [3]

GreenKey was awarded a patent from the United States Patent Office for the design of their OTC liquidity allocation process called “Decline Ratio Matching,” which operates within the Block Pool platform.[4] The matching algorithm sorts and ranks participants by how likely they are to accept the deal price they are currently quoting based on their historical response rates.

In November 2013, GreenKey launched "Trader Voice Box," a suite of voice-over-internet-protocol (VoIP) applications that digitally record and store conversations on private, secure voice networks without hardware.[5]

90 days into the company's initial launch, GreenKey decided to scrap the block pool completely and focus 100% of the company's resources on building voice software. In September 2015, the company announced it had been granted a patent for the "soft turret" functionality.[6]

In September 2015, GreenKey entered into an exclusive partnership with RANSquawk, provider of real-time audio news for the financial markets.[7]

Also in September 2015, the company added Chicago trading firms DRW and Eagle Seven as equity partners, and added DRW founder and CEO Donald R. Wilson as a member of the advisory board, joining other recent additions Jill Sommers, former CFTC commissioner, and David Rutter, former ICAP head of electronic broking. [8] GreenKey won Waters Technology’s Most Promising Sell-Side Start Up Award for 2015[9] and received an Innovator Award from FIA.

In February 2016, the firm announced that it had released its first web-based platform, running on OpenFin’s HTML5 container technology. GreenKey also announced a third party partnership program, with Trading Technologies and OpenFin as the first third parties to join.[10]

In March 2016, GreenKey appointed Paul Christensen, a former Goldman Sachs executive, as its new CEO. Co-founder Anthony Tassone took on the newly created role of chief product officer. Christiansen stepped down, however, in September 2016.[11] Also in March, GreenKey announced a partnership with Symphony for a voice quote capture tool.[12] In April, the firm announced an instant messenger aggregator, that will launch in early May that allows firms to retain messages sent over 3rd party platforms such as WeChat, WhatsApp, Yahoo or AIM.[13]

In August 2016, GreenKey announced a partnership with Tradition and Tullett Prebon Ltd where the firms will use GreenKey's speech recognition tools. [14]

In early 2019, Tassone retook the reins as CEO again, succeeding Nader Shwayhat, who served as CEO from 2017 to late 2018. Shwayhat returned to an advisory role. [15][16]

The firm received funding in March 2019 from IPC.[17]

Key People

Video

The Voice: Green Key Technologies Is Turning Your Brokerage Voice Into Valuable Data

In today’s financial markets, the conversation is most often about electronic trading, high frequency trading, complex orders via algorithms and so forth. Yet, for the $492 trillion global OTC derivatives markets, firms still conduct business over the phone, person-to-person, a practice which is now availing itself of new technology in compelling ways.

Paul Christensen, who started as CEO of GreenKey Technologies in March of 2016, told John Lothian News that phone transactions for certain markets are “a much higher quality way of communicating.” As such, technology firms are seeking ways to harness the value in those conversations, as well as meet the regulatory requirements passed down in recent years in the US, UK and Europe.

References

  1. Green Key Press Release. Green Key Technologies.
  2. Green Key Technologies Launches The Block Pool. Green Key Technologies.
  3. Green Key Technologies launches The Block Pool & Trader Voice Box. Automated Trader.
  4. Green Key Technologies Awarded OTC Matching Algorithm Patent. Green Key Technologies.
  5. Green Key Technologies Launches Trader Voice Box: Cloud VoIP Software, Recording and Storage Capabilities for the Financial Markets. PR Newswire.
  6. Green Key's Virtual Turret for Brokers and Traders Awarded Patent. Reuters.
  7. Green Key and RANSquawk Forge Exclusive Squawk Delivery Partnership. PR Newswire.
  8. Green Key Technologies Adds Chicago Trading Firms DRW and Eagle Seven as Equity Owners. PR Newswire.
  9. GreenKey Wins 2015 Most Promising Start Up. Green Key Technologies.
  10. GreenKey, TT, OpenFin Partner. Financial News.
  11. Former Goldman Sachs Executive and Market Structure Veteran to Lead Award-Winning Voice Workspace Firm to Next Level. Automated Trader.
  12. GreenKey Releases Pilot of Voice Quote Capture Tool on Symphony. Waters Technology.
  13. GreenKey to Launch Instant Messenger Aggregator to Help Financial Market Firms Comply with Regulations. Yahoo Finance.
  14. Tradition and Tullett Prebon partner with GK. Waters Technology.
  15. Nader Shwayhat Appointed as CEO of GreenKey. Finance Magnates.
  16. Nader Shwayhat Appointed as CEO of GreenKey. Finance Magnates.
  17. Creator of Artificial Intelligence, Natural Language Processing Technologies for Financial Services. Press Release.