Several large asset managers have signed up to Bloomberg-challenger messaging service Symphony Communications Services. Symphony said a number of customers including Balyasny Asset Management, AB, Boston Partners and T Rowe Price are using its lower-cost messenging tool. While banks such as Goldman Sachs already use the service internally, signing up money managers is key to increasing take-up across Wall Street. Symphony was created in 2014 when a consortium of financial institutions, led by Goldman Sachs, bought Perzo, in an effort to change how their traders communicate, and the company claims to have 14 licensed users.
Several large asset managers have signed up to Bloomberg-challenger messaging service Symphony Communications Services. Symphony said a number of customers including Balyasny Asset Management, AB, Boston Partners and T Rowe Price are using its lower-cost messenging tool. While banks such as Goldman Sachs already use the service internally, signing up money managers is key to increasing take-up across Wall Street. Symphony was created in 2014 when a consortium of financial institutions, led by Goldman Sachs, bought Perzo, in an effort to change how their traders communicate, and the company claims to have 200,000 licensed users.