Pointing out that the financial markets are competitive places is an understatement to say the least. Whatever your thoughts about the powerful companies that control the world’s money, control it they do, and it’s important that they can do it well.
Thanks to specialist algorithms, trades can now be made in millions and billionths of a second. It’s impressive stuff.
Human communication is important too as traders need access to the latest prices, news and analysis, in real time.
Increasingly cloud is seen as the way to keep the networks of the financial world turning.
With the flexibility it offers, and the ease with which it transcends time zones, cloud is a powerful enabler of competitive trading.
Because of its scalability it can respond to fluctuating activity and give clients and counterparts the flexible access options they need.
It also offers a reliable communications platform, which is so important in an industry as much based on relationships as money.
Demand for these cloud networks is driving innovation on the trading floors and among the network providers that offer the services.
Necessarily they are among the most advanced and secure networks available so there are only a handful of companies in the world capable of delivering them well.
At the recent FSTech Awards 2012, BT’s Global Banking & Financial Markets division was given the award for Cloud Computing Innovation of the Year for BT Unified Trading over the BT Radianz Cloud.
BT Unified Trading helps traders communicate with their colleagues, clients and suppliers in any way they choose through a single, intuitive interface.
Because they can have multiple conversations with multiple parties simultaneously it helps traders spot opportunities, make decisions and offer better services to their clients.
Larry Tabb, CEO of Tabb Group, said: “As financial services firms look to solve their cost, power and space challenges while extending their infrastructure, it will be critical for these firms to examine more software and cloud-based voice solutions.”