Financial institutions have long become accustomed to leveraging their data networks and resources across their entire corporate enterprise. Logging on to your desktop remotely, accessing files, regardless of your location-and as if you were at your own desk-is commonplace and expected in this highly mobile, fast-moving world. However, despite advancements in technology, the voice environment, particularly in the very sophisticated arena of the trading floor, has largely remained stationary.
In the voice-communications world, resources are fixed and largely constrained by geography. Voice-over Internet Protocol, or VoIP, on the trading floor has been available, but only in a limited way. The technology was new and, therefore, exciting, but it didn't really present a tangible enterprise benefit in and of itself. The promise of that technology was not yet fully realized. That is, until now.
As of today, the benefits of the flexibility and sharing of resources common in the data environment have suddenly become more feasible in the voice environment. Financial institutions are beginning to deploy a robust set of flexible solutions that have significant implications for the application of VoIP on the trading floor.
Not only is it now possible to consider the distribution of voice resources across the global enterprise, but taking the first step toward the industry goal of a more virtual trading environment, where resources will be available when and where needed, and won't require human intervention. This isn't science fiction-the move along this continuum has begun.
The benefits of more intelligently applied VoIP on the trading floor are compelling. These advantages go way beyond the simple cost efficiencies most people associate with VoIP, and can include improvements in other areas, such as business-continuity planning, reallocating resources and operational efficiency gains.
Don Bell is svp of marketing and corporate development for IPC.
