With the aim of eliminating many of the costs of traditional turret systems, Wesley Clover Solutions (booth #1409), a systems integrator focused on next-generation trading technologies, unveiled its new 3300 IP Voice Trading Platform yesterday at the SIFMA Technology Management Conference.
The solution combines a fully functional IP-PBX with more than 300 features and a voice trading system, eliminating the traditional cost of maintaining two separate voice platforms: turrets for traders and regular phones for office staff, according to the company. The 3300 is a rack-mountable, dual-bus voice switch that supports both legacy TDM (time-division multiplexing) switches and converged IP environments simultaneously on the same controller.
"We've taken a system that can do both — you can now get all the options on one system," says Christopher Corridon, VP of marketing at Wesley Clover Solutions. The solution is particularly suited for smaller firms with fewer than 100 employees, Corridon notes. "Until now you had two choices: you bought a trading turret, with a cost of $10,000 to $20,000, and a regular PBX, which costs from $500 to $1,000. ... Our new solution costs a fraction [of a traditional turret] because this is a PBX."
Corridon says the IP Turret and Trader Phone options let firms determine which users really need a turret. "The Trader Phone is a low-cost, high-performance option for those with limited line requirements, in support roles or home office [disaster recovery] environments," he explains.
Both are controlled by the same backroom components, and swapping from one to the other doesn't require any modification to the common control or cable plant, according to Corridon. The 3300 can act as a standalone trading system connecting to a PBX via QSIG or as a dual-purpose PBX/trading system, he says.
The 3300 platform is scalable from a few stations to thousands on a single controller, Corridon adds. And it eliminates capacity and flexibility limitations associated with traditional TDM systems, for which customers incur high costs for adding a turret position, he says.
In terms of business continuity, according to Corridon, the devices can operate over broadband networks. This means that traders can utilize the IP technology's dynamic addressing capabilities to access their automatic ring down (ARD) for private lines and direct inward dialing (DID) from anywhere broadband connectivity exists to the system, he explains.
With a growing number of firms requiring flexible work environments on a day-to-day basis, the IP technology also enables traders to operate irrespective of where they are based. "If a trader says, 'I'll be in London,' or 'I'll be at home and want to trade,' they can," says Corridon.
Wesley Clover's new voice-recording system, VOXNET, also has been designed with business continuity in mind. It can store, retrieve and replay voice and data interactions in either traditional TDM or Voice Over IP environments regardless of the trader's physical location.
VOXNET has an open architecture based on the Microsoft Windows operating system and MySQL database. "By using open standards and leveraging the existing customer server platform, we reduce the total cost of deployment and maintenance, and simplify service," Corridon says. Melanie Rodier has worked as a print and broadcast journalist for over 10 years, covering business and finance, general news, and film trade news. Prior to joining Wall Street & Technology in April 2007, Melanie lived in Paris, where she worked for the International Herald ... View Full Bio