New voice trading system makes noise in industry
Huge open offices crowded out with monitors, phones ringing and constant voice outcry… This is generally how we picture a financial trader’s everyday life. The outcry element is a particularly distinctive feature: despite electronic trading’s rising importance, there is still, to this day, nothing more reassuring than voice trading with trusted people – particularly in volatile times or in the case of the most sensitive and complex deals. The more calls you can make, the most informed your decisions will be. Technology may have evolved to better serve these needs and provide seamless connections, but there is still a wide gap between investment banks’ expectations and current market offerings. The sector wants to move away from legacy on-site trading communications and embrace cloud offerings with its better scalability and faster reactions to rapidly changing markets. Currently such a shift is expensive to say the least. But that may be about to change thanks to technology developed by Speakerbus and enhanced under the TRADECOM project: it promises not only to decrease costs, but also to provide lighter-weight, right-sized, easily implementable and scalable voice trading solutions. “We offer a true consumption-based trader voice service model that can be adapted to the needs of our clients. Our system provides highly resilient call routing designed to reduce the risks posed by unplanned outages; reduced development costs thanks to a development-oriented API; and a trading endpoint that combines the best aspects of existing interfaces,” explains Paul Kitchener, Marketing and Communications Manager at project-leading company Speakerbus. The system consists of four key elements: a SIP hybrid touch and button device (AYRE®); a secure browser-based device (ARIA); the development-oriented API (iSeries CTI Service) and an enhanced server architecture (iManager Communications Server and IPv6-ready product suite). AYRE is presented as a touchscreen in a turret: it combines hard and soft keys with gestures and finger tap control for better user interactions. ARIA, on the other hand, is a browser-based voice trading interface. Seamless integration with enterprise communications services is delivered through the iSeries CTI service API, and third-party integration with Cisco, Avaya and Mitel is possible for effective back-office communication. Thanks to EU funding under TRADECOM, Speakerbus improved its manufacturing process and built a unified architecture, making it possible to deploy its iManager technology on premises, in datacentres or on private clouds. As Kitchener explains, “Speakerbus have seen increased market drive towards cloud and off-site installations and this enhanced flexibility brings new possibilities and opportunities in the financial marketplace.” Amongst the other important advantages for customers are the possibility of tailoring AYRE and ARIA components to traders’ needs, the fact that the solution takes 17% less desk space than alternatives, a contextual interface to save time, customisable tiles and the integration of various tools, all aiming to improve team collaboration. “Initial clients have been telling us that this innovation puts Speakerbus at the forefront within financial institutions looking to change their voice trading architecture,” Kitchener enthuses. By successfully reaching all project objectives, Speakerbus has now become a recognised Tier 1 provider for global trader voice solutions. The company has recently been invited to answer three RFI / RFP’s for top tier investment banks, with a net worth of around GBP 50 million (EUR 56 million) over the next five years and a re-occurring maintenance revenue of around 10 % to follow per year.
Keywords
TRADECOM, Speakerbus, voice trading, cloud, financial traders, ARIA, AYRE, iManager
