By Brett Berkowitz, Senior Customer Solutions Engineer, IPC
Despite the old adage, when it comes to a regulated trader voice enterprise, now you can indeed take it with you. In the past, deploying a trader voice system required herculean effort and resources. The cost alone has long been a barrier to entry for many firms. Concerns over security, reliability and platform inflexibility often force firms to source multi-vendor solutions with little, or no integration between them. Recent trends in technologies (private clouds, virtualization, mobile applications and devices) and growing acceptance of them have primed the financial sector for change when it comes to addressing their trader voice requirements.
Even for the smaller firms, a traditional trader voice solution can easily reach into six figure territory. But as firms search for the sweet spot where cost, functionality and meeting regulatory requirements converge many have begun to reconsider the cloud. With a full OPEX model for a traditionally CAPEX expenditure, a cloud based solution can now bring down the cost barrier and provide a fully regulated trader voice enterprise to even the smallest players in the financial market.
After cost, a firm’s subsequent concerns typically center around security and reliability. Notch another win for the cloud, especially private clouds. A private cloud can provide its users with a secure, robust and compliant platform. Add to that inherent resiliency, secondary savings (data center, infrastructure and maintenance) and the ability to deliver solutions as a fully managed service and the case for cloud keeps getting brighter.
I have seen more than a few turrets installed in bathroom stalls (yes, in the stalls) at various firms. I also know of numerous traders that have T1s placed directly in their home(s). Proof that firms will go to great lengths to ensure their traders are remaining connected and using compliant and secure communication solutions. While traditional trading systems have struggled to provide viable mobility options, a cloud based solution can offer customers numerous fit for purpose options. Having the ability to right size the applications and devices required now allows firms to ensure they don’t have to over-purchase to meet their requirements or underserve their users in order to stay within budget.
To say the future of trader voice is “cloudy” may sound like a bad pun, but for legacy trader voice solutions, the writing is on the wall. The advantages of a cloud-based trader voice enterprise are here, clear and numerous. A subscription service with tiered product packages allows customers to purchase only those features they need and at a reasonable monthly cost. Deliver that functionality as a managed service, over a secure and resilient private network and the paradigm has shifted. By enabling users to seamlessly consume their content regardless of device, platform or location proves the old adage wrong and that you can indeed, take it with you.
© 2017 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.