 All right, hello. Thank you for joining FTC3 in the wild. I'm Eugene Sorensen, Chief Parked Officer for Cosaic. And it's great to be back here in London after almost a three-year absence. So, and this is? I'm Rogue Friends, Product Director at Symphony. Thank you. So what we want to do, a quick agenda, just run through quick intro on FTC3. If you guys aren't available, then we're going to get a live demo of FTC3 actually in production environment. And then we'll circle up with a couple other use cases and some of the things of the challenges that we encountered in this project. So let's, next slide. There we go. All right, so I thought just for a quick moment we would read through the charter as a product guy. I think it's always good to make sure you know what your vision is. Where are you headed? So the financial desktop connectivity and collaboration consortium is to develop specific protocols and taxonomies to advance the ability of desktop applications in financial workflows to interoperate in a plug and play fashion without prior bilateral agreements, right? And I think that plug and play piece is really key. That's where we need to get to so that it becomes really fast and easy to build the best of breed desktop that all of our clients need. And next slide. All right, so what is FTC3? So core components of it, context data. Those are your nouns, the things that describe it, right? All that metadata that you think about when we think about a position, a person, right? That's what we need to transmit from one app to the other, right? The intents are the actions, your verbs, right? I want to launch a chart. I want to launch a chat. I need to send a message. Those are the intents, right? The application directory, right? We're all out here building apps and multiple apps. So where do I find them? How are they defined? They need to have a standardized method of describing them and finding them so that it's easy to use. And ideally, we're going to have multiple app directories, but we'll come to that point later. All of these things are tied together by an API, the desktop agent API. And if we'll click. So there are several desktop agents out there available today. Of course, at Cosaic, we have FinSomble, which we're quite proud of. Glue42, OpenFin, also commercially available solutions that you can use as your desktop agent to facilitate this interoperability. The FDC3 desktop agent is a plug-in, a browser plug-in. And we just had last quarter released the FDC3 electron, which is an open source version of a desktop agent. So a lot of tools out there for you to build your smart desktop solutions. And next slide. So I've broken down who's using FDC3 into four categories. The first was the group on the last page of desktop agents. Then we have the financial service companies who have actively been invested. We highlighted some of these before. Then there's the app teams. These are the firms that are building apps, the best-to-breed apps that you want to plug in to your smart desktop. And this is where FDC3 really allows it to be that plug-and-play experience. And next slide. And then supporting this transition, the agents of change. So if you want to implement an FDC3 project, you want to transform part of the digital transformation, transform your app stack, then adaptive reform as Normans and so on, Scott Logic, have all been active participants. And we thank them all for what they do. We work closely with all of these firms to help our clients implement their desktops and build out their applications to leverage FDC3. Now with that, I'll pass it over to Rob to talk through a use case of why we're all here, to see it. Let's see this thing actually work. Let's see it in action, exactly. All right. Quick share hands. How many people here have been or are a trader? None. How many people? Oh, was that half? No, none. Anyone been a salesperson at a bank? One. All right. So I'm in a relatively safe space here then. That's good. So this example that we're going to go through, this is something we did a symphony event a couple of months back. The workflow is meant to be a buy-side trader. I played the role of the buy-side trader in FX. Very busy person. I make lots of money. I don't have time for any idiots. And I want my desktop to be really smart and fast. That's the basic concept. If you've ever met a trader before, been lucky enough to meet one of those. You'll probably recognize those traits in how they behave. Time is money. And I want to make lots of money. So what we've got here, so we talked about the desktop agent. So what we've got, we've got four applications and a desktop agent. And they're all going to interact together. And I'll just talk you through the workflow and you can kind of see what you can do with FDT3. So what we've got on the screen up there, we've got a blotter on the top left. So that's where my trades. That would be my firm's blotter. Over here, it's all a bit squished because normally I'm a really important trader. I'd have six screens in front of me. I wouldn't be doing this on one laptop because I'm really big screens. So I've got a blotter here. I've got my chat platform, Symphony. And we'll show you a few other things. So what Pierre here is running things so that I can be hands-free. So what we're going to do, imagine I just traded sterling dollar yesterday. So if I'm a good trader, I'd be looking at how I performed and how well I've done. So we're going to put in GBPUSD up there. Thank you. And I just want to see how some of these trades that I did yesterday performed. So first thing that's going to happen, if you just click on the chart IQ little widget there. So the blotter is my in-house application. Chart IQ is a third-party charting app. And we just clicked on the button. And magically, the chart IQ chart came up. Now, what happened behind the scenes we'll talk about in a second. But essentially, as a user, I love that because I clicked on it. The context got passed over. It loaded the security. It loaded the time frame. It showed me the orders I was interested in. And I didn't really have to do anything apart from clicker buttons. So as a user, love it. So what we're going to do is, if we click through this, there's little pink dots here. They're the executions that I did yesterday. So if we just look through that, Pierre, thank you. So you can see we can click around the chart. What this is telling me is there's some executions happened here. So these tiny little red dots are telling me that the trade actually occurred slightly off mid, slightly worse than maybe I could have expected. So if I'm on the buy side, I'd be talking to my sell side about, well, what happened? Why is it that you didn't fill me at the right price where you were slightly off market? So that's one application that's kind of talking FTC3 between these two. The other thing we have up here is a tool called TradeFeeder, which is a transaction cost analysis tool. So it analyzes how trades perform versus the market. So Pierre has just clicked on the TF thing there. Again, it's done the same thing. FTC3 talked across past the context. And wow, that's a lot of stuff. What we've got here is a nice little graphic showing you the circle is showing you where yesterday's algo performed overall. The red dot is the average performance, and it actually shows that yesterday that algo performed better than it did on average. So it's probably a good day. But because I'm a buy side trader and very high maintenance for my sell side, I want to just make sure what's going on. So one of the things I can do is start to query that with my sell side. So client support on the sales side of the bank. So Pierre, if you want to just share that, so what we're going to do now is we're going to share that chart using symphony to connect to the bank on the other end. So if you imagine there's somewhere, wherever they are, Barclays, Morgan Stanley, Citi, whoever it might be, I can now send. And again, we just did one click from here over to here. And we've initiated a chat and embedded the FTC3 context and a little picture of the chart. And we can say, feels came in quicker than expected or whatever it is that I'm asking about. And I can pass that context. Over to my sales coverage. Now on their side, they may have a smart desktop too. And they'd be able to pick up that information that I've passed across in this message. So it's all a bit crushed because we're on a laptop. But you can imagine that this would be on one of my screens. And I can pass that across. And then they can pull that context out. And again, seamlessly move not only on my desktop seamlessly, but also across to another user's desktop. And just to show you the other side of this. So it can also work the other way around. So here I've got a chat where someone's passed me an instrument that they want to know about. Same thing Pierre can do here. He can hover over that view instrument. And you see up the top left. So Symphony and that blaster just interacted past the FTC3 instrument context across. And now it's filtered on my trades for EuroUSD without me having to really do anything. So as an end user, very cool. And a huge amount of potential I think in FTC3 and Symphony working together. Yeah, right. I think the key thing here at all of these apps built with FTC3 APIs under the hood, right? TARDiQ, Kozak's second product. Actually, it's the first product. Finsambol is the second product. All written with those standards. So it makes it very easy to integrate and pass this together. And we're going to go through two pieces that show you a couple of tools that we've got that make it easy to build a smart desktop using FTC3. So the first piece that Pierre is going to bring up is something called the FTC3 workbench. So this is an open source project, as Gav was talking about this morning, that has been contributed. We worked heavily on it. Kozak contributed to the community. And because FTC3 is always about connectivity, you always have to have that communication, right? If you're talking on a telephone, somebody's got to respond. That's what the workbench is designed to do is to provide you that counterpoint application to work with. So the first thing that we're going to do is we're going to join a channel. So we know what line we're going to communicate across. So we join channel one. And it pops up with a little note there. And then we're going to go over to context. And we're going to go ahead and choose an instrument and enter in your, we've got, we've searched for yours. So we're going to search for Sterling again. So GVPUSD will be entered in. And then we're going to broadcast that to the, to the OMS. We'll blot her. There we are. You both have to be on the same channel. And then we broadcast the context. Now also, you note that it shows you the syntax here, right, for the code. There we go. And those little copy buttons allow you to just copy that text you need for FTC3. And put it into your app, right? And then the third piece is an intent. So we're going to go to the Intent tab. And in this case, we'll just launch a chart, View Chart. And we are going to raise intent. And it's going to pop up with Sterling loaded, right? So this is the kind of workflow that you get from FTC3. And it makes it very easy to do so. Now, I'm going to, we're going to go into something we call the Smart Desktop Designer at Cosaic. It's a product that we built that facilitates building out your desktop and makes it a GUI that allows a product manager, project manager, somebody to that effect, not a developer, could be a developer, but doesn't have to be a developer. Really, we're trying to save the developer time so they can focus on the hard problems to actually build out your desktop solution. So you can see the different tabs we have across the side. We're going to go to Manage Apps, right? And we're going to go ahead, so these are the apps that I've already got in my system. And we're going to add one. We're going to add something, a company called Era, who provides, they capture live streaming events and do the transcription of those events, right? And they're capturing more events than anybody else. So we've copied in the URL for that, and they have built their app using the FDC3 standard, right? And so then we've put it in, and we're going to add it. And then we can launch that app, right? And then we can go back to the workbench or somewhere else, the other chart, anything that's on the same channel, it doesn't matter. And we're going to type in Vox in this case, and it searches for that. How long did it take Era to stand up this app inside of Ensemble using the workbench and FDC3, because they had already written for that? And the Smart Desktop Designer? About four hours, right? So this is something, if you use this standard, it is plug and play. That is exactly the objective up front that we are after, right? Is we get more apps, right? We had some 20-some apps have registered. It said, yes, we're using FDC3. And we can get more apps doing this. This is when the rising tide will lift all boats. It will help our entire community. We were just chatting with our friends at Pictay, used the term, fix for the desktop. That's what FDC3 is. All right, so Rob, we? Yeah, I think we were going to talk a little bit. I think Chris wanted us to talk a little bit about some of the challenges we face when we did this. So when you start to use these things in the wild, obviously that's when you realize all the things you didn't think about. One of the things we found, I guess, on the start chat intent was that's great to start a chat, but what if it's not already exist in chat room? Kind of obvious, but it was something we had to add to it. The other thing I think you saw in the demo as we did that, chart share into symphony. We allowed people to put in some text, and we had a little picture and all those things. Again, the original, the first version, didn't really allow that. It was literally start a chat. So a natural thing as you start talking to users is I don't want to just start a chat with Pierre. I want to actually say something to him at the same time and probably share something with him. So all those kinds of things are getting worked out as we start to use this for real in the wild. And obviously that will feed into Chris and the next version of the standards. But the more people that do that, the more we'll find these things and we'll get a more refined standard that's good for everyone. So I think those are probably the key ones that we found during this. I'm sure there's a few you had on your list. Yeah, well, so if you bring back up the workbench for just one second. So one of the things that you see in the workbench is that if you go into the context, so you can define your own. At the bottom it says create context. And you can define your own context and build this thing. And that's what Symphony had to do because it wasn't there in the standard. So it's great that you can do that. But then it lives for this application in this implementation of the desktop. And so this is where we'll go back to the slides and talk about really sort of what are the things that, where do we need to take FDC3? And what is it that we need to build out to do? So let's go to the next slide. Right, so we need to expand. Really, there is a context and intense data working group. And that's the team that's really building out and defining the objects that we need to pass back and forth, the actions that we need to take. It's great to see so many people here at this event today in this room. This is the kind of community that we need to have in that group because we don't know what that list is. And as you can see in the workbench, there's what, a dozen, a dozen or so contacts, a dozen or so intense. We're all doing a lot more than that every day. And so this is what really has to be built out. So if we can get more people participating in that and defining that, raising their hands, saying, these are the actions that I need. These are the things that are part of my system and I need to share. So we need to end to that invoking more actions and a standardized message format. This is the point is we have too few and we need to really build that out as we go. Are many more added in 2.0? Oh, yes, OK. But many more to go. And then we need a standard way to deploy these applications. So that app D, as we call it, that's the key piece. And there should be multiple app Ds where I can see all of these different applications and all of the sub applications or all the different vendors. Each vendor would have an app D with all of their child apps within it. We showed ERA. They have a couple of different apps. Those need to be listed and discovered by the desktop agent without thinking. It just plugs in, looks up, says, oh, I've got these five app Ds. And it pulls in all of those. It allows the user to access any of those apps. And if we go to the next slide. So this first point was exactly why Symphony had to write their own context. Because it's not a transaction. There's no communication back and forth in the 1.2 standard. And so once you've sent it, it's send and forget. That doesn't do so well. When I'm talking on the phone, I expect somebody to reply to say yes. I expect Rob to say hello to me. Not just me to talk at him. That's why I'm talking to you. We need back-end processes start using FDC3. Right now, everything that we're doing is on the desktop, as I said, fixed for the desktop. But if the back-end starts using the FDC3 standards as well, then that will simplify the work on the front-end. It requires less translation, less work for devs to map from the data feeds and the data sources onto the desktop and into the apps. So that's a really, will be an important step forward for the solution. Yeah, I think that's one that we get a lot of when we talk to clients is a lot of conversations about as you get into more complex workflows, the back-end needs to interact with the human beings, not just passing instruments across. They want to do more, and they need more systems to talk to each other. So we're definitely seeing that as people get into the FDC3 kind of world, and they start talking about, right, it's great. I can do this across the desktop. I also want to be able to get information somewhere that maybe isn't the desktop, and I don't want to have to go through all that pain of formatting in APIs and wouldn't be great if everyone spoke the same language, not just the desktop. So yeah, I think that's definitely a trend we're going to see. Yep. Desktop agent bridging, right? So up front, I said that there are five desktop agents. Those are the public ones. There's a couple of firms that are actively building their own private desktop agents. Mazeltov, good to them, right? I don't recommend it. It's a lot of work. We've uncovered a lot of challenges. There's a lot of man years in our effort, not to mention our peers' efforts. But listen, if you want to do that, that's great. But the point is, let's say I am going to have one of those desktop agents, or I'm going to have multiple desktop agents. Why can't I use all five and have those apps communicate on the desktop? That's where we need to get to. So the desktop agents need to be able to talk to each other. So this is a big challenge for FDC3. And we'll need to enrich all of our apps to facilitate this. As I said, it's rising tide lifts all boats. There's a big enough pool out here that we can all play. We don't need to own the space. Of course, we love to own the space. But that's not a reality. And we need to make sure Gabb mentioned this in his opening this morning. We need to build out some conformance tools. So we need to know that when somebody raises their hand and says, yes, I built my app using FDC3, that what did they actually do? We need to know that when the desktop agents say this is an FDC3 desktop agent, we need to validate that it's passing the intents correctly, that it's sending the intents correctly to create an action that's passing the context data correctly. So it needs to pass this information. And the app's the same thing. This is going to require some work. Rob was talking about it this morning as well. So this is a major area to go forward with FDC3 as a community. We're all going to have to participate in this conversation to really drive the standard and get the most out of it. Because that's when it becomes plug and play. And you want to be able to look up that list on the FDC3 website, see all the apps that are there, and go, oh, that one's interesting. Good. Pull it down, get their app D, and plug it in, and it works. That's what it needs to do. So that's the vision. That's where we need to go. And I think that pretty well wraps us up. So we have some time for some questions and answers. Yeah, I think we have to be careful when we say pricing. I guess I'm not talking about equity pricing or liquid products. This is more in the structured products where it's almost like a conversation, but it's a machine to human. Or that's streaming prices. Yeah, not FDC3. I was going to say, it seems that we've got a solution for that. Maybe it's not perfect, but we don't want to get re-invited. Or retrieving content from your trade database, all of that stuff, or your news database. These things could all be done to think about the broad spectrum of types of data. More questions, yes? How we worked together to work this. So I think we probably over a couple of months, I guess we were talking about how this would work. Because it was the first time for Symphony to really integrate into FDC3. I think we've talked about it, but I think we're actually going down that path now. And we've got the integration with FinSomble and Glue42. And we're working with OpenFin as well. So all the big three desktop agents. And as Eugene said, there's not a standard way that you interact with all three, which is one of the things that would be nicer to stand away to do. So it's a conversation there, a conversation there, a conversation there, and then working with the developers to agree on how we actually get Symphony to talk to that agent. The FDC3 context, like we said, there were some changes we needed to make. There were additions, I should say, not changes. But really, it wasn't a huge amount of yannics here from our engineering team. It wasn't a huge amount of work. Was it yannic? It was reasonable? I was going to say it's actually very easy. We take the example of the things we want to move forward on, like being able to share rich text, maybe with some images, maybe with some tables, stuff like that. It's literally been the case of opening an issue on the GitHub repository, talking about it with Chels, discussing it to want to be bi-weekly or monthly meetings. But I've got to write the full request. That's it. It'll be done. It's really easy. And going forward, as Symphony deploys applications, they're going to be leveraging the FDC3 standard. So anybody who uses Symphony is going to be able to plug right into a desktop agent that's built for FDC3. Come back to you. You know, quite frankly, no, we have not had that conversation that I'm aware of. Maybe Chris knows. But it is surprising that they have not picked up and paid attention to this initiative. The old people in the Mickey's Keyboard A. The old people in the Mickey's Keyboard A. Yeah. But not that I'm aware of. We haven't had those conversations. No. No. Two more triggers. Did you have a comment? Yeah. So in Finsomble, you can wrap an app, a native app, and it puts it in an electron container. And it can live inside the Finsomble desktop and move and behave. And then there are solutions. David is here from I Push Pull, where to facilitate the data transfer from one app to another. So Excel can play in this environment. And we work quite closely with David and his team at I Push Pull to facilitate that. So Excel can play. And we have Allison in the back from Google who thinks they have a solution to compete with Excel. And we would love to get that fully operational into the smart desktop. So I don't know if my finance guy would agree yet, but we'll get there. You had a question? Yeah. Just the majority of the traders. Roomba talk. Any ambition to expect to? Any ambition to expand to Bloomberg? Sorry? I'd be chatting. Well, I can't speak for Bloomberg. I used to work there for 12 hours, Eugene. So my boss. Yeah. I don't know what their plans are. I mean, obviously their business model in the past has been the kind of walled garden model, which I think is not kind of the direction of the industry. I would expect that they're going to have to do something to interact with this kind of open API. They're doing some work, but I'm not sure how far they're going to go. I think that's probably a question for them to answer. Bloomberg has a solution called Terminal Connect. We interface with Terminal Connect so that we can have a bidirectional conversation with the Bloomberg application. There's a plug-in. You go into the SDD, and it says add Bloomberg, and you put in your code. Or this is coming out in a version in probably August. And you'll be able to use Bloomberg. IB Connect is what they're dreaming of. I think it's more than a dream. It's more they continue to sort of put their toe in the water and figure out. Happy to chat with you afterwards and introduce you to the right people at Bloomberg to give them a kickstart. Not that Rob and my friends here are going to be excited about that, but maybe would. Yeah, could be, right? So it's in play, I guess, is the right answer. Yeah, it's Bloomberg, right? It's like moving the London Wall. You do it one brick at a time. That's right, that's right. But they are recognizing that they do not own the space. I think really it comes back to, and I think we'll wrap on this point, is that was the era 15, 20, 25 years ago. You had to build everything, right? You had to build all of the apps. And Tom Sakunda, our boss, he would wrap on the product team, right? He wraps on everybody. But he would beat us up and say, you know, you guys suck. We're the second best at everything. The only reason we're so successful is because we have everything, right? And you know what? He was right. But we were competing. Whatever products we were building, there was whole companies competing against that single product, Bloomberg had everything. So you can't be the best at everything, right? What we see with FTC3 and we see in a smart desktop is that opportunity to build a best of breed solution, right? Let the traders, let the analysts, let the risk managers, let the ops people figure out what the best solutions are that they need, right? You guys are all building apps. Let's go sell them, right? And let's allow them to plug and play together and build that solution that pushes back against the industry leaders of Refinitiv and Bloomberg and anyone else who's old in that. Yes. I think that's actually a perfect segue to what's next is FTC3 2.0. So this was the warm-up back for Chris and Rika. And I will let them handle that question. But using the workbench gives you a tool to do that, looking at the standard and migrating your APIs. But if we have anything else? All right, we'll think. Yes? Yeah? Yeah. You're still going to run into all of those procurement and security hurdles to install an app. That's what we run into. We at Cosec, both of our apps are desktop apps. And so they don't talk to a back end. Or they communicate through a back end. But there's no back end that is open to the public. So we tend to go through pretty easily. But any app that does have a back end, you're still going to run into those same sorts of hurdles. It doesn't yet solve that problem. What it does is it simplifies your go-to-market time. Your time to value. Once you've got that app approved and installed on the desktop, and we'll deploy it, right? If Ensemble does, or any of the desktop agents can deploy the solution, it's part of what the technology is. And then it will plug and play. We've got the lady with the red light saying stop. All right. We're out of time. We'll follow up later. Yeah. All right. Thanks, everyone.