2 months, 4 weeks ago

Can a computer learn to speak trader?

Microsoft and Google can translate, say, Spanish to English, but who can translate finance speak? Up-and-coming compliance software firms are leaning into artificial intelligence to help crack esoteric trader argot, as Wall Street and London watchdogs increasingly dive into traders’ jargon-loaded and even coded messages to help fight financial crime. Behavox, a London-based compliance software company that sells to large banks, hedge funds and other firms, offers tools that can ingest the huge amount of messages that financial firm employees generate and look for the financial crime needle-in-the-haystack of jargon-laden, everyday work. Global Relay, another compliance firm that serves banks and other financial industry clients, is testing a new AI system with customers that can quickly adapt to approaches that would defeat a traditional tool, said Donald McElligott, the vice president of compliance supervision at the company. Finra, Wall Street’s self-regulatory arm, said last year that it is considering issuing new guidance on the evolving uses of AI at firms.

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Financial Compliance Communications Jargon Ai Tool Firms Wall Street Trader Traders Regulators Mcelligott Behavox Steeleye Compliance Staff

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