BT is World’s Largest Financial Services Cloud Provider with 15,000 Member Sites
13 April 2011
BT has today announced that its BT Radianz dedicated financial services cloud now reaches 15,000 member sites globally, consolidating its position as the world’s leading managed cloud for the financial services community.
For over ten years, BT has continued to be ahead of the market through innovation, service growth and understanding of its customers’ business needs in the financial sector. As a result, its BT Radianz cloud now supports the largest secure networked financial community in the world. This includes over 3,000 applications provided by over 400 service and content providers to users in 64 countries today.
By offering the leading cloud services to the financial community, the BT Radianz Managed Infrastructure has become a structural part of the financial industry, providing access via a single connection to the broadest range of applications and providers, rather than users having multiple infrastructures to access separate services. This approach can help deliver 50 per cent savings in communications total cost of ownership to BT Radianz community members year-on-year.
The surge in member sites has been delivered through three key activities: a renewed focus on the Foreign Exchange (FX) sector; a focus on services in and to the Asia Pacific region; and helping customers respond to regulatory changes around the world. Demand from the FX community has increased significantly over the past year, with higher volumes prompting institutions to improve access to data and trading venues.
Notably BT recognised the increased need for FX services that would result from market participants wanting to increase their activities in the Asia Pacific region, and responded by allocating significant resources to helping customers manage shifts in their business towards that region.
BT is an industry pioneer in developing the cloud community focus. During the year, we targeted and developed services with key application providers through recognising the value that their applications bring to the wider member base.
José Antonio Martinez, managing director of Radianz & Payments, BT Global Services, said: “We’re totally committed to satisfying the needs of the financial services industry through the provision of a world-class service and will continue to innovate and listen to the needs of our customers.
“The recent uplift in demand from FX market participants to use this service confirms our position as the preferred partner for fast and secure access to the global FX community. Watch this space as we announce further innovative products and services this year.”
Larry Tabb, CEO of leading financial markets research and advisory firm TABB Group, said: “The strength of a financial markets network is demonstrated by the number of secure endpoints and the ease of connecting exchanges, brokers, investors, and service providers. Surpassing 15,000 global member location connections is a feat demonstrating BT Radianz Managed Infrastructure’s leadership in providing secure, financial markets managed connectivity.”
Joseph Anastasio, director, information technology, network communications, for the Depository Trust & Clearing Corporation (DTCC), said: “We congratulate BT on this milestone achievement. DTCC always looks to work with service providers to bring greater efficiencies to market participants. Through a joint agreement that the two organizations initiated a year ago, we have found BT’s cloud-based infrastructure to be an extremely secure and cost-effective way to connect multiple trading applications through which we can offer our clearing and settlement services.”
The BT Radianz Managed Infrastructure serves the needs of banks, brokers, investment managers, exchanges and electronic communication networks (ECNs), multilateral trading facilities (MTFs), corporate treasurers, clearing houses and securities depositories. Through a single access point, it makes available pre-trade, trade, post-trade, cross-asset and treasury applications across the breadth of a user’s business needs.