NEW YORK MERCANTILE EXCHANGE UPGRADES TRADING FLOOR WITH DIGITAL VOICE TRADING TECHNOLOGY FROM BT

New York & London, 1 February 2005 - BT today announced that the New York Mercantile Exchange, the world's largest physical commodity futures exchange and trading forum for energy and precious metals, has deployed BT’s latest ITS voice trading systems. The 133-year old Manhattan-based exchange has installed BT systems in 450 trading positions in its NYMEX division which trades in energy, crude oil, gasoline, heating oil, natural gas markets and platinum group metals; and a further 290 positions in its COMEX division which handles gold, silver, copper, and aluminum.

The New York Mercantile Exchange awarded the contract to BT to replace V-Band’s analogue system—in competition with IPC. The new digital ITS voice trading system offers increased flexibility of deployment and added value services such as ITS Myriad, BT’s multi-channel integration solution which will be added at a later date. This will link voice, email, instant messaging, CRM and other relevant market and product information systems and communication channels – giving traders all the information they need at their fingertips. Both divisions of the Exchange have also entered into an extended maintenance service and support agreement with BT.

The installations on both divisions of the Exchange also include BT’s Global Remote Monitoring Service to monitor the ITS systems. This enables faults to be identified and resolved in minimal time, before there is any impact on trading operations.

All traders at the Exchange have been equipped with two of BT’s ITS pV205Hi turrets, designed to optimize the hectic and space restricted environment of the exchange floor. Each position has eight handsets – four on each turret – enabling traders to handle up to eight calls at once, without putting any lines on hold. This solution was designed exclusively for the Exchange, and is one that the competitors were unable to match.

The ITS platforms at the Exchange are supported by two ITS pV107 telephony switches, designed to provide maximum business resilience for large trading floors.

John Barbara, director of telecommunications at the Exchange, said: "We were looking for a technology partner who understood our business needs and could help us exploit the advantages of the latest digital technology. BT met all our criteria. They worked with us to deploy the new voice trading technology in blocks over a series of weekends, avoiding any disruption to our mission-critical trading operations and were able to demonstrate a clear roadmap for the future. Today we feel we have a ‘one-of-a-kind’ solution that effectively meets all of our communication needs."

Rod MacDonald, managing director, financial services, BT Consulting and Systems Integration, said: "By embracing the need and desire to move toward a digital infrastructure, the New York Mercantile Exchange is reaping the key benefits inherent in BT technology. As a result, they will gain maximum reliability, strong voice trading technology and the opportunity to exploit value added services such as multi-channel integration. We look forward to serving the evolving voice trading technology needs of the Exchange both now and in the future."

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development