Flexible Trading service offers ‘pay as you grow’ solution to financial institutions
Orange Business Services - Trading Solutions, the leader in voice and electronic trading infrastructure and services for the trading communities, today announced the launch of its Flexible Trading service. This fully managed cloud-based offering is targeted at small to midsized financial institutions and is being rolled out this year allowing firms to work with the latest and affordable technology solutions.
“Financial institutions are increasingly looking to reduce costs from the front to back office and are turning to cloud-based models to achieve this. A fully managed service means financial institutions can take advantage of utility pricing and also a potential reduction in their IT infrastructure costs. The added benefit of scalability in this fast paced market allows them to broaden their investment portfolio across different asset classes,” said Peter Redshaw, managing vice president, Gartner.
The cloud-based Flexible Trading service is provided on a ‘pay as you grow’ model and is designed for hedge funds, asset managers, and niche players who require up to 20 positions on a pre-fixed pricing basis. The all-in-one package contains the award winning Open Trade smart turret, optional voice recording and voice lines through native access to the TCSnet network and fully managed services. Flexible Trading customers can also benefit from access to over 2000 TCSnet community members and more than 50 liquidity pools across the globe.
“Flexible Trading in the cloud will provide our users with an advantage over the competition. It will allow them to efficiently align their service costs to business needs and gives them greater choice. Five year contracts are usually the minimum requirement and Flexible Trading presents an adaptable solution requiring just a one year commitment responding to today’s market conditions and demand for efficient business change,” said Lionel Grosclaude, CEO of Orange Business Services - Trading Solutions. He added, “Flexible Trading’s ‘pay as you grow’ model is a very attractive alternative for small to mid-sized financial institutions, which can now benefit from and afford the most advanced trading solutions. It is a full end-to-end service so there is no need for in-house IT experts, allowing users to enjoy all the benefits and functionality the service delivers.”
The service also offers a fast response to business changes allowing upscale and downscale of trading operations. Users of the Flexible Trading service will benefit from better oversight of their technology and in-house expenditure, with no need for additional technical space. It is also easy to deploy and set up in a short timeframe. The service is designed to improve financial efficiency as users will be able to allocate valuable IT infrastructure budgets to other areas of the business giving them a greater degree of flexibility and allowing improved business agility.
“Flexible Trading is the latest addition to our rich portfolio of cloud-based solutions, encompassing infrastructure, collaboration, video, security and back-up available ‘as a service’,” said Didier Jaubert, senior vice president, Global Services and Global Communications Solutions, Orange Business Services. “To answer our customers' increasing needs for more flexible infrastructures and reduced capital expenditure, we have positioned cloud computing services at the heart of our strategy, thanks to the strengths of our global network and IT infrastructure. With Flexible Trading, we also show our ambition to address specific markets with cloud services within the financial community.”