Voice-to-text software touted as Mifid II quoting fix

risk-0916-phone-trading-web — Off the hook: traditional phone technology could be replaced by browser-based methods

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Until a few months ago, Paul Christensen and Germán Soto Sanchez were doing similar jobs at rival banks. Today, both men are doing similar jobs at rival technology companies. Their aim is to replace a trading desk's souped-up phone console, or turret, with cheaper, browser-based software. But it's not just about cost.

The firms plan to offer speech recognition and transcription tools that will automatically convert voice into text in real time – the best way to satisfy new rules on

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