Unifying trader communications

BT for Financial Markets

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Unifying trader communications

Voice communication remains a critical element of the trade workflow, even as actual execution of trades becomes increasingly computerised.  In a recent survey BT commissioned Greenwich Associates to undertake,  88% of respondents say voice communication is very or extremely critical to their trading workflow. Voice communication helps traders convey nuance, build trust and develop stronger relationships with their clients.

But how people communicate and the technology that supports them is changing. Unified communications and software solutions are gaining popularity and importance on the trading desk. Traders are becoming more fluid in how they work, seeking to use a variety of communication tools to conduct business and to have a more seamless experience switching between them. But firms also have to balance these news ways of communicating with increasingly demanding regulatory compliance obligations and are looking to use proactive surveillance solutions to improve insight and controls. And like all industries, firms need to reduce costs and complexity; technology and operations groups are looking for optimised cost of ownership, flexible cloud-based deployment options and operational agility; they want to be able to integrate their enterprise systems with their trading floor IT and combine cloud with on-premise solutions in the way that suits them best.

BT’s strategy to help customers meet this changing landscape is to unify trading communications, enabling our customers to collaborate across complex, global trading communities more effectively; meet those demanding regulatory compliance obligations and reduce costs and complexity. Our strategy is underpinned by BT’s Cloud of Clouds portfolio strategy and underlines BT’s continued investment in voice trading and turret solutions.

Our portfolio is focussed on four key areas, complemented by comprehensive managed services, ensuring your day-to-day operations are compliant with operational, security and data-protection policies:
 

  • Collaboration – enabling trading teams to communicate with clients, counterparties and colleagues using a blend of speech, video and messaging from the broadest range of fixed and mobile devices and applications
  • Cloud – flexible deployment options that enable firms to integrate their enterprise systems with their trading floor IT and combine cloud with on-premise solutions in the way that suits them best
  • Community - we will be adding community collaboration across our Radianz Cloud, supporting end-to-end collaboration from any of our endpoints with the assurance of security and quality of service and access to the largest financial services on-net community
  • Compliance - helping you respond to legal holds and regulatory investigations more effectively, with proactive surveillance to help prevent unacceptable behaviour in the first place.

These capabilities offer significant benefits to trading teams, IT teams, operations and service teams and compliance teams.

For trading staff

  • We enable trading teams to communicate with clients, counterparties and colleagues using a blend of speech, video and messaging from the broadest range of fixed and mobile devices and applications
  • Our portfolio includes physical button and touchscreen trading turrets, PC-based turrets, physical and PC-based intercom, support for Cisco and Microsoft Skype for Business phones and soft phones
  • We support tight integration with enterprise unified communication platforms including sharing presence information and integrating directories
  • Such capabilities mean trading teams can team-work, including multiple participants able to join calls and private wire conversations, listen to hoots and intercom each other, through the device most suited to their needs and budget and firms can leverage existing investments they have already made.
  • BT’s capabilities, open integration approach and cloud-of-clouds strategy, enables customers to combine voice and messaging communications and integrate with their sales trading applications.
  • Sales trading teams can be far more fluid in how and where they work, switching from mobile to fixed communication and from electronic, to voice, to video and back; they can handle more clients at a time, with important contextual information being captured in to their sales trading CRM, driving-up productivity and revenue.

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For IT teams

  • Like all industries, firms need to reduce costs and complexity
  • With BT’s solutions, technology and operations groups benefit from optimised cost of ownership, flexible cloud-based deployment options and operational agility; they are able to integrate their enterprise systems with their trading floor IT and combine cloud with on-premise solutions in the way that suits them best.

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For compliance teams

  • BT’s unified trading proposition addresses firms need to redefine their approach to governance, risk and compliance. Compliance is a vast topic. BT’s unified trading proposition specifically addresses the challenges firms have with the oral record keeping requirements of regulations such as the UK’s FCA regulations, the US Dodd-Frank regulations and the forthcoming European MIFID II regulations. BT’s unified trading proposition also addresses an increasing demand - both regulatory and by firms wishing to apply best practice for their own internal governance - for the proactive surveillance of person-to-person communication and to be able to respond to legal holds and investigations in the most effective manner.

BT’s unified trading proposition includes:

  • Fixed recording – covering calls from fixed devices such as trading turrets and office phones
  • Mobile recording – covering calls and electronic communications such as text/sms messages from mobile devices
  • Compliance assurance – helping firms ensure that relevant conversations are actually being recorded and archived for regulated users, that they are audible and not corrupted and that they are held and deleted in line with policy
  • Proactive Surveillance – enabling firms to prevent market abuse with surveillance and analysis of person-to-person communication
  • Analytics and Discovery – helping firms respond quickly, cost-effectively and accurately to legal holds and investigations.

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For operations and service teams

Service and support

Risk should be in the nature of the job, not your IT systems

  • Traders today rely on instantaneous, global communication. Technology has become a critical part of every organisation’s day-to-day systems and processes. Time is money, which means downtime is just not an option. Every single second counts. So while you might take a calculated risk on a deal, you can’t afford to gamble on your communications infrastructure.
  • BT’s unified trading proposition enables the people in the markets to interact, collaborate and trade effectively, securely, compliantly and globally.
  • But our globally shared knowledge and expertise enable us to deliver complete solutions in any kind of trading floor environment. So whatever technology, platforms and suppliers you have in place, we’ll be able to step in and take care of it all – giving you one less major thing to worry about.
  • With BT Unified Trading service and support you get the level of assurance you need to keep your operations running securely, compliantly and reliably. We’ll protect your mission critical systems on the trading floor and beyond.
  • We’re here to make sure the equipment and systems you rely on are truly reliable and we can cover design, implementation and in-life support. Of course, you can jump in at any point – we’re more than happy to take on the management of a system that’s been designed and set-up already, and our breadth and depth of experience means we can look after almost any third-party hardware and peripherals.

With BT, I get access to a whole team of experts, all backed by great project management. The project has been really well executed. Right from the start everything was planned down to the last detail.”
- Harry Weber, Managing Director, Trading Services and Telecommunications NYSE Euronext

The relationship between BT and the Totan Group goes back many, many years. BT understands that the dealing phone system is critical to our business and it goes the extra mile to ensure our operations are both smooth and effective. We transferred our private wire voice network to BT this summer and the transition was completed without any trouble; not only us but our customers are satisfied with the enhanced service provided by BT and we trust BT to continue to provide this excellent quality of service.”
- Kiyomi Saito, President and CEO, Totan

Our commitment to Service

Peace of Mind with our complete global service approach.

  • We’re here to make sure the equipment and systems you rely on are truly reliable and we can cover design, implementation and in-life support. Of course, you can jump in at any point – we’re more than happy to take on the management of a system that’s been designed and set-up already, and our breadth and depth of experience means we can look after almost any third-party hardware and peripherals.

Design

  • It doesn’t matter if it’s a major transformation project, a global technology refresh, or a standalone update – it needs to be managed properly. We have a firmly established project office approach, comprising both detailed project and risk management methodology. Before starting a project, we’ll conduct user interviews and produce detailed planning. Our consistent approach to project management minimises both technological and financial risks.

Implementation

  • People generally don’t like change, so it’s important that any updates, refreshes or integration initiatives are smooth and hiccup free. Preparation is the key, and we’ll make sure every situation has been considered and factored in to the implementation plan – including training and support for everyone involved. We’ll even have people on the trading floor to step in and help on the day the new systems go live.

In Life Support

  • It’s when your new system goes live that the hard work really begins. Modern communications systems are extremely complex, with a plethora of hardware, software, suppliers and systems to maintain. We’ll help remove that complexity – and do the worrying on your behalf. We’ll simplify things for you, with one point of contact for support. And if anything does go wrong, our round-the-clock proactive monitoring will address it before it impacts the business.

To find out more please contact your account manager.

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Resources

White paper

Ovum report: Financial Institutions and the cloud:

PDF - 152 KB

Moving from BAU to business transformation