BT today announced that it has signed a five year, […]
BT today announced that it has signed a five year, multi-million euro contract with Commerzbank, one of the largest German financial institutions, to deliver managed services for the bank’s voice trading systems. BT will support systems on trading floors around the world with immediate effect, bringing multiple benefits to internal stakeholders. The deal highlights BT’s capability as a global supplier of professional managed services for the financial services industry.
BT will deliver and manage the ITS.Netrix voice trading system and ITS Recorder on the major trading floors of Commerzbank. Developed for an environment where every millisecond counts, ITS.Netrix is a specialised voice communications solution tailored to the requirements of financial traders who need an extremely reliable, easy-to-use system to communicate with clients, brokers and other traders. The ITS.Netrix devices can handle multiple calls and phone conferences and are equipped with a talkback speaker system and integral intercom.
The ITS Recorder provides leading-edge functionality including IP connectivity, secure playback to desk and distributed network architecture.
In the five-year deal, BT has agreed to supply hardware, software and services to Commerzbank’s global business and financial centres as well as on-site support at the main trading locations. The first phase of the project will be the deployment at Commerzbank’s 650-desk trading centre in Frankfurt, Germany, with all domestic and international centres to follow.
Roland Schneider, Principal Project Manager and Head of Infrastructure Program in Commerzbank’s Dresdner Bank Integration Project, said: “The proven reliability and flexibility of the BT solution was the key driver in our decision. Setting up a trading system as a managed service means we do not have to worry about planning long-term hardware investments or having to predict which way technology innovation will go – BT manages these issues and allows us to focus on providing service and value to our own clients. BT’s innovative price-per-desk model gives the bank the flexibility it needs – especially in a constantly changing business environment”.
Commerzbank has worked with BT for more than 10 years, having successfully rolled out solutions and services across the major financial trading locations.
According to Andy Nicholson, VP Global Banking and Financial Markets, BT, this proven track record also helped Commerzbank make its final decision. “There is already an excellent, long-standing, relationship between our companies,” he said. “To reach a decision, Commerzbank listened to its own internal customers – the traders themselves – who provided positive feedback on the benefits of working with BT equipment.”
The ITS Recorder is an Original Equipment Manufacturer (“OEM”) product developed with BT’s partner Verint Witness Actionable Solutions, a leading global supplier of voice recording and workforce optimisation solutions.