By Roberto Stewart Colín, Managing Director, Oreico Trading Solutions SAPI de CV
In the hyper connected, fast moving world of trading technology it’s always a challenge to keep up with the pace of change. For instance, when a technology product loses its differentiating core, or quality of service is no longer a competitive advantage, companies must act quickly to maintain a market leader position.
In the financial services industry, constant innovation, significant product changes and fresh offerings, new trends and an ongoing barrage of information has created an environment of uncertainty, making most strategic decisions regarding technology a challenge. Sensitivity in choosing the right technology is exacerbated by the fact that bad decisions usually translate into lost competitiveness and revenue. Even more so, new technologies often open the door to new risks, and potential threats, creating vulnerabilities that did not exist before, which makes maintaining market leadership a challenge.
In this environment, financial institutions have steered away from “out of the box”, one size fits all solutions and require a custom-made approach. This usually spans across several technological applications to solve a particular problem. This trend is ending the niche provider, those companies that only offer a single service or product, as clients in financial services rarely require just a single solution. Also, the complexity of the industry, constantly changing regulations, and the increasing demand for higher standards of service has proven difficult, if not impossible, for companies with substandard products or services to keep up.
At Oreico we believe in not only focusing in long term partnerships with our clients – although that is vital — but providing full solutions for the trading floor ecosystem. That is our key differentiator. We use a bottom down approach; first we solve the most critical needs of our clients (in compliance and telecom for example) and then we respond to other areas that are not as time sensitive or mission critical.
Oreico earns our client’s trust by solving complex problems efficiently and we are organized to respond quickly. Of course, this challenge is met by the constant support and expertise of the IPC team working in tandem with our local expertise. When a major bank needed to modernize its recording system in 16 different locations across Mexico, we devised a way to centralize the recording using Soft Turrets, leveraging the current Turret and Network infrastructure at the bank.
Having a full range of solutions has helped Oreico evolve as the industry changes. Because of regulatory mandates, the need for many financial services firms to act globally and constant technology advances, we believe the trading room as we know it will not be recognizable in the near future. Trends like cloud solutions, Hardware and Software as a Service (HaaS, Saas), constant mobility of the trader, proactive compliance, voice analytics and machine learning, to name a few, are all constantly influencing how the Trading Room of the future will look, and Oreico will continue to work with IPC, to provide superior products and services to that market.
© 2019 IPC Systems, Inc. All Rights Reserved. The contents of this publication are intended for general information purposes only and should not be construed as legal or regulatory advice.