Symphony

2015: Announcement of Symphony

On September 15, 2015 the social network for banks and the companies of Wall Street Symphony was provided. A founder of service is the Symphony Communication Services company developing the software for instant exchange of the message and financed by the large foreign companies.

According to the Financial Times edition, social network Symphony is positioned as cheaper and convenient alternative to terminals of Bloomberg and Thomson Reuters which traders use worldwide. The cost of a subscription to this service is $15 a month against $1850 for the same period at Bloomberg. For certain users and small commands the Symphony service is free.

At the time of the announcement of Symphony totaled 30 thousand users among bankers and managing assets which began to use a product in the testing mode.

The social network for banks and the companies of Wall Street Symphony is provided

The company signed delivery agreements of content with  McGraw Hill Financial company which will offer users the tool of financial information S&P  Capital IQ and also with  Dow Jones (will open to service the news feed)  and  Selerity specializing in information search, provoking changes of quotations.

According to the CEO of Symphony David Gurle, by means of the listed partners the company is going to create "the irreplaceable tool for  communications, joint work and document flow".

The chief innovation officer of Dow Jones Edward Roussel called Symphony "network of arteries which finally will become a source of vital energy of Wall Street".

Invested a number of large financial institutions in the Symphony project, including Goldman Sachs, Deutsche Bank, Credit Suisse, Bank of New York Mellon, Bank of America Merril Lynch, BlackRock, Citadel, Citigroup, HSBC, Jefferies, JPMorgan, Maverick Capital, Morgan Stanley and  Wells Fargo.  The size of investments in social network for Wall Street is estimated at $70 million^[1]

Notes