Red Box Recorders announced today a global partnership with Bloomberg Vault, Bloomberg’s enterprise compliance platform, to help financial organisations adhere to record-keeping requirements mandated by global regulations.
Red Box technology records voice conversations over phone, turret and mobile devices on behalf of more than 500 financial firms globally. Now, clients can use Red Box voice recording technology with the trade and communications analytics, monitoring, and archiving capabilities of Bloomberg Vault to capture and provide complete records of trade activities.
Pete Ellis, COO of Red Box Recorders commented, “Voice communication is part of the culture and fabric of the capital markets. Capturing these conversations is now more important than ever. Red Box is working with Bloomberg Vault to bring our decades of voice recording expertise to Bloomberg Vault’s leading enterprise compliance and trade reconstruction solution.”
Regulations such as Dodd-Frank in the U.S., MiFID II and Market Abuse Directive and Regulation (MAD/MAR) in Europe require investment firms to keep records of trade-related communications, such as e-mails and voice conversations. In addition, some rules mandate investment firms produce time-sequenced records of the lifecycle of a trade. To do this, they need to capture different types of communications data generated from pre-trade, to execution, to post-trade, and correlate it with the relevant transaction data.
“Compliance officers need a way to capture all communications and interactions around a trade in order to give regulators a complete snap-shot of events. Integrating voice recording through Red Box helps us provide a complete and cost effective surveillance, record-keeping and trade reconstruction solution to our global client base,” said Carrie Andrews, Head of Strategic Partnerships for Bloomberg Vault.