Symphony suspends Sparc pending registration talks with CFTC

The comms provider may have to register its RFQ workflow and messaging tool as a Sef, or perhaps permanently shut down the business line.

Sparc

Communications and workflows platform provider Symphony has suspended its Sparc offering indefinitely, as the vendor is engaged in ongoing talks with the US Commodity Futures Trading Commission (CFTC) about the service’s registration status, WatersTechnology has learned.

As part of its Symphony Market Solutions suite of services, Symphony Sparc was unveiled in June 2019 as a workflow tool for interest rate and cross-currency swaps, in which buy- and sell-side traders could use a single chatroom

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