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On Wall Street, the difference between devastating losses and skyrocketing profits is often measured in seconds. Equity and bond traders execute orders by punching them on a PC or terminal keyboard, yelling across a room, or scribbling out a ticket for a clerk to key into a trading system. Voice recognition can automate and speed the entire process.
One financial firm, Bear Stearns & Co., has teamed with Ficomp Systems Inc., a Dayton, N.J., systems integrator that specializes in trading systems, to build a voice recognition system from scratch.
The new technology, called Interpreter 6000, is essentially middleware. It operates apart from custom-built equity and bond applications.
Bear Stearns, a $3.8 billion New York brokerage house, and Ficomp spent two years and more than $1 million to build Interpreter 6000. The system has been...