Industry and media reaction to Taskize’s Symphony partnership and integration

This partnership and integration brings real-time collaboration to operations teams using Taskize and front-office users of Symphony and is “a powerful illustration of post-trade transformation and interoperability,” according to Symphony’s Jon A. Emswiler. 

“It’s important to create integrations to automate common tasks and processes that ultimately free up time and reduce risk,” Brad Levy, CEO of Symphony explains, adding that “this partnership with Taskize is part of our ongoing commitment to address the demand in the industry to extend workflow cross-firm and front to back.”

Euroclear’s Global Head of Official Institutions, Francois Tilly calls the integration “a great achievement” while our live demo at Symphony Innovate London 2023 was “one of the highlights of the entire event,” according to Saphyre’s CEO & Founder Gabino Roche Jr and his team. 

For James Bunting from Finsemble, our work with Symphony is “a beachhead into ops for interoperability” and, quite simply, “great news” according to Jim Kearney, Head of Global Investment Operations at Vanguard.

Bernard Ferran, Euroclear’s Chief Commercial Officer says this is “a great move for both Taskize and Symphony” echoed by Miguel Ferreira, Chief Commercial Officer (Americas & Global Financial Institutions) as “brilliant news for the industry when two leading providers join forces…. In particular, in the build-up to T+1.”

The media was very quick to pick up on the partnership, with coverage in A-Team Insight and Finadium among others.  Best Execution was the first to break this particular announcement and spoke to Taskize’s James Pike for some additional background on why this move is so important in the context of global regulatory shifts:

“As the road to T+1 begins in earnest, failure to address bottlenecks and obstacles in a coordinated fashion will leave market participants with highly inefficient settlements,” he told editor Laurie McAughtry.  “At the heart of this is ensuring seamless post-trade resolution through efficient inter-company workflow and interoperability.  This partnership with Symphony is a huge leap in the right direction as we seek to help firms resolve breaks faster under compressed timeframes.” 

Global Custodian spotlighted how the integration’s “shared live view will enable quicker resolution of issues in an environment of reduced settlement timeframes” while for Global Investor the focus was on the “real-time collaboration between operations teams using Taskize and front office users of Symphony.”

Business intelligence was the key point for Traders Magazine who point out that, no matter which system you’re using – Taskize or Symphony – “both parties benefit from Taskize’s workflow, routing, and business intelligence capabilities… and all users gain a clear overview of resolution time and root cause analysis”

Finally, Securities Finance Times – sister publication of Asset Servicing Times, who also covered the announcement – sum up perfectly concluding:

“The Taskize-Symphony integration aims to allow users of the two firms to collaborate in real-time without reverting to ‘slow traditional methods’ such as phone or email.  Users will be able to stay on their platform of choice without the need to copy and paste information from one system to another, this aims to improve resolution speed and reduce risk.”