IP Telephony Gains a Foothold in Financial Trading Markets
Wall Street firms are building out their IP infrastructures to leverage new capabilities enabled by the convergence of voice and data.
"While some may believe that electronic trading systems will make the telephone obsolete, others point out that the reality is just the opposite. 'It's a myth that phone-based trading will become less important,' emphasizes Kevin McPartland, senior analyst with Tabb Group. 'Trading is still a relationship business,' " writes Anne Rawland Gabriel on Wall Street & Technology.
"In fact, the convergence of voice with electronic systems enabled by the Internet Protocol is poised to take trading to new heights, according to McPartland. "It's exciting that the efficiencies IP telephony promised for years are finally being realized," he says. "For example, linking your CRM system with IP telephony permits a client's portfolio to open as soon as the phone rings." Over the course of thousands of calls, this feature alone can quickly add up to an advantage," writes Gabriel.
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IP Telephony Comes of Age on the Trading Floor