The new report entitled, âTrade Communication Tools: Enhancing Productivity and Collaboration Through Integration,â found that the adoption of a unified communications approach, which encompasses the seamless use and interaction of voice, IM, video, email, chat, etc. over one platform, will play a central role in the trading environment. According to the research, this is important to market participants as it increases trader effectiveness and enhances productivity, which improves the bottom line.
The survey sought to examine the role collaboration tools play in a new market environment being driven by regulation, advanced trading strategies and diverse asset classes. The key findings include:
â¢ Voice and instant messaging tools are being used in tandem to support the entire life-cycle of a trade in todayâs trading environment. Close to 60% of respondents indicated that voice is very important during trading with almost as much importance placed on instant messaging. Video conferencing followed in third.
â¢ Improved external collaboration is one of the key benefits of an integrated voice-centric trade communication infrastructure. Approximately 80% of survey respondents identified that integration across the different communication tools becomes that much more critical in maintaining relationships with clients and counterparties.
â¢ Integration across various trade communication tools â including instant messaging - is deemed important by most of the respondents however, over 40% of respondents indicated low to no integration, suggesting a substantial growth potential for vendors specializing in integration across various trade communication tools.
Mark Akass, Chief Technology Officer, BT Global Financial Services, said: âFinancial institutions are fast moving to a new paradigm leveraging collaboration technologies to better manage their client and partner relationships. This is creating opportunities for competitive edge through enhanced productivity, increased margin, and better client service. BTâs network centric approach to implementing trading room technology capitalises on this demand by enabling firms to operate more efficiently providing a flexible approach in response to changing market conditions.â
Sang Lee, Managing Partner, Aite Group, said: âIn todayâs increasingly global and complicated trading environment, integrated voice-centric communication tools continue to play a vital role supporting the entire trade life-cycle, leading to enhanced client services and overall productivity.â