NEW YORK - Deutsche Bank has signed a multimillion-dollar agreement with IPC Information Systems Inc. for the design and construction of new trading floors in 15 countries.
Under the multiyear contract, New York City-based IPC will design and install systems connecting more than 4,000 trading positions around the globe.
"Deutsche Bank's strategic plan is to become a dominant investment bank within two years," said Hermann Selier, senior vice president of global technology at the bank's U.S. subsidiary, Deutsche Morgan Grenfell. "Key to the establishment of the investment bank will be the building of trading rooms that utilize a common technology platform in order to create a truly global virtual trading environment."
IPC will provide project management teams to oversee the planning and construction of trading floors, including management of the multiple-vendor relationships, company officials.
Also as part of the contract, IPC will install its Tradenet MX trader "turrets," which are sophisticated multi-line telephone systems. Officials added that the first trading floor should be completed by February.