ATLANTA, GA - April 13, 2009 - Nexidia, Inc., the market-leading provider of audio search and review software, announced today that the Commodity Futures Trading Commission (CFTC) has entered into an agreement to install Nexidia's Enterprise Speech Intelligence (ESI) software. The CFTC will use Nexidia ESI for reviewing audio content produced in its investigations of trading activities.
The CFTC's mission is to protect market users and the public from fraud, manipulation, and abusive trading practices related to the sale of commodity and financial futures and options, and to foster open, competitive, and financially sound futures and option markets. In fulfilling its mission, the CFTC routinely requests and receives large volumes of audio recordings. Transcription of hundreds or thousands of hours of content requires weeks or months of processing, while human listening is labor-intensive and inaccurate. The ability to process and review audio recordings quickly and efficiently was at the heart of the agency's decision to install ESI.
"We're pleased the CFTC has selected Nexidia's ESI platform for reviewing audio content in their regulatory investigations," said Jeff Schlueter, Vice President of Legal Market for Nexidia. "The addition of the CFTC increases the number of regulatory agencies in North America and Europe that use Nexidia products to review audio in a cost effective manner."
While verbal communications have become increasingly important for transacting business, particularly in the regulated industries and call center operations, the capabilities for storing audio content for longer periods have improved, and audio is subject to the same requirements for compliance and production as other forms of electronic data. Nexidia's patented phonetic technology, combined with its experience in call center operations, military and law enforcement agencies, and legal audio discovery, enables the company to deliver the most scalable, accurate, and affordable method for reviewing large volumes of audio content.
About Nexidia
Nexidia is the audio and video search company with patented technologies and breakthrough applications that enable legal professionals to quickly and accurately search, review, and categorize large volumes of audio and video in response to discovery, regulatory, or compliance investigations. For over 10 years, Nexidia has delivered trusted solutions to government agencies, corporations, and law firms. For more information, please visit www.nexidia.com/legal.
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Nexidia Contact:
Cathy Kenton
Legal Vendor Strategies
858.509.7996
CKenton@lLVstrategies.com
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