OpenFin, the desktop operating system built specifically for the needs of capital markets, has publicly contributed code to the Symphony Software Foundation that allows, for the first time, any OpenFin customer to deploy Symphony Chat on the OpenFin operating system. The integration enables seamless deployment and interoperability of Symphony alongside the expanding ecosystem of applications already running on OpenFin. Major financial services firms including IHS Markit, RBC, T. Rowe Price, and others intend to use the integration.
The Symphony Software Foundation (the Foundation), is a nonprofit organization fostering innovation in financial services through open source software (OSS). The OpenFin contribution code is based on a standard developed by the Foundation’s Desktop API Working Group and is open source at https://github.com/symphonyoss
The Symphony Software Foundation now counts more than 50 projects, 100 plus contributors, four active working groups, and 25 member organizations; The Foundation has recently hosted a notable Open Source Strategy Forum, the first Open Source conference for Financial Services who brought together more than 300 thought leaders and innovators.
“A commitment to open source software has been a core guiding principle at OpenFin and we’ve always strongly supported the Foundation’s efforts to bring that ethos to finance”, said Mazy Dar, CEO of OpenFin. “By enabling Symphony to run on the OpenFin operating system, we are making it easy for our mutual customers to unify the Symphony desktop experience with their other OpenFin-based apps.”
OpenFin’s customers include more than 45 of the world’s largest banks and trading platforms. OpenFin OS is licensed across more than 125,000 desktops and is used to deploy hundreds of applications to over 400 major banks and buy-side firms. Using a modern, open technology stack, OpenFin is dedicated to addressing the specific needs of these customers, enabling rapid deployment and interoperability, while simultaneously improving security.
“Unifying Symphony with our other OpenFin-based apps will create greater flexibility, efficiency, and collaboration across our firm,” commented Jeremy Sonnenburg, Head of Capital Markets Technology at RBC. “As our technology platform continues to expand it’s important for us to work with vendors who value innovation as highly as we do. We are pleased to work with OpenFin whose products consistently enable our employees to work smarter and more efficiently and allow our business to drive greater innovation.”
Gabriele Columbro, executive director, Symphony Software Foundation said, “I am particularly thrilled to announce an open source integration between Symphony and OpenFin. It’s a perfect example of innovation that can be achieved through efficient collaboration on open source and open industry standards. By embracing open source, vendors can benefit from each other’s ecosystems, enabling each firm’s best-in-class technology to reach the widest number of developers. And by leveraging open standards, they can ensure high longevity integration to their customers, resulting in a positive-sum game for the entire industry. It’s through efforts like these, under the transparent and independent forum of our Foundation, that we are sparking innovation on new high value collaborative solutions which have the potential of reshaping Wall Street.”