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Symphony
Enterprise Software
Symphony is a New York-based secure communications and workflow platform used primarily by financial services firms for compliant messaging, trading collaboration, and market data integration among banks and asset managers.
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Symphony was founded in 2014 by a consortium of major global banks, including Goldman Sachs, Bank of America, and others, who collectively developed and later spun out Symphony as an independent company, based on the recognition that financial services firms needed a secure, compliant messaging and collaboration platform specifically designed around the unique regulatory requirements of the financial industry, including detailed record-keeping and compliance monitoring requirements for business communications that traditional consumer or general business messaging platforms were not designed to address, while also wanting more modern, efficient communication tools than some of the aging, proprietary messaging systems, including Bloomberg's dominant terminal messaging system, that had historically served much of the interbank and institutional trading communication needs across Wall Street and other major financial centers. Symphony's platform provides secure messaging and collaboration tools specifically designed for financial services firms' regulatory and compliance requirements, including comprehensive message archiving and monitoring capabilities that satisfy financial regulators' requirements around retaining and being able to review business communications, particularly important given periodic regulatory enforcement actions against financial firms for inadequate communication record-keeping, including notable cases involving employees using unauthorized personal messaging apps for business communications in violation of regulatory requirements. The company's platform has been adopted by a significant number of major banks, asset managers, hedge funds, and other financial institutions as an alternative or complement to Bloomberg's terminal-based messaging system, which has historically dominated interbank and institutional trading communication but which some financial firms have sought alternatives to given Bloomberg's significant terminal subscription costs and desire among some market participants for more open, interoperable communication infrastructure not tied to a single dominant vendor's proprietary ecosystem. Symphony has positioned itself as critical, compliant communication infrastructure specifically for the financial services industry's unique regulatory and operational needs. The company has raised substantial venture funding from a consortium of major financial institutions and other investors, reaching a valuation exceeding $1 billion, positioning itself within a niche but strategically important segment of financial services technology infrastructure.
FOR QUALIFIED INSTITUTIONAL AND ACCREDITED INVESTORS ONLY: Under federal securities laws, private market investments on this platform are available exclusively to Institutional and Accredited Investors. Verification of status required before investing. Private investments involve significant risks including illiquidity, potential loss of principal, and limited disclosure requirements. "Augment" refers to Augment Markets, Inc. and its affiliates. Augment Markets, Inc. is a technology company offering software and data services, not a bank or financial institution. Cash Accounts are provided by Modern Treasury Corp. financial institution partners and through Augment's technology. Augment does not act as a money services business, provide money transmission, or serve as a custodian of funds. Funds held in your Cash Account are not FDIC insured unless expressly disclosed. Full terms available in the Augment Cash Account Agreement. Brokerage services are offered through Augment Capital, LLC, an affiliated broker-dealer and member FINRA/SIPC. "Investment accounts" are not brokerage accounts and do not hold customer funds or securities. Investment advisory services are offered through Augment Advisors, LLC, an SEC-registered investment adviser. Registration with the SEC does not imply a certain level of skill or training. Neither Augment Advisors, LLC nor Augment Capital, LLC provide legal or tax advice; consult your attorney or tax professional regarding your specific situation. For additional information, please refer to Augment Advisors, LLC's Form ADV Part 2A (Firm Brochure) and FINRA BrokerCheck.
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