Multichannel Communications Consultancy for Capital Markets

Microsoft Teams and Outlook dominate the communications requirements of most Financial Services employees. They are also used on the Trading Floor but the requirement for specialist Trader Voice systems, with dealer boards (turrets) or soft clients, still persists. There are also many market data and order processing systems with communications functionality, Bloomberg is the most ubiquitous.

It is relatively simple to add a chat channel to a digital system and increasingly simple to add audio and video. There are also generic UCs like WebEx and Zoom, and apps like WhatsApp, We Chat or Telegram. Every electronic channel has to be recorded for “supervised users” in Capital Markets. So, some apps like WhatsApp may be banned, but this doesn’t diminish the challenge of provisioning, monitoring, recording and storing data from approved channels.

Comms Infrastructure Consultancy

We have helped Tier 1 banks with the integration and management of MS Teams with Trader Voice and Compliance systems. We have helped to plan storage, search and replay strategy with an eye on the capacity and cost issues associated with video. To be compliant, banks* not only need to capture and store from all electronic channels, but they must also be able to demonstrate it is being done dependably. It is important to implement infrastructure that is flexible enough to cope with new channels or modalities that may become relevant.

Many systems provide their own recording solutions. Capture remains essential to compliance requirements but is becoming easier to achieve. Key differentiators to look for now relate to

  • Uninterrupted use of required communications systems and seamless integrations to improve productivity and user experience.
  • Efficiency of storage to meet the requirements of regulations and legislative hold including elastic capacity and the automation or semi-automation of compression, deletion, purge etc.
  • Support for the straightforward application of capture and storage requirements by region, desk, individual etc.
  • The ability to provide full reconciliation for all captured media and data.
  • The ability for Compliance and Surveillance staff to search and play back chronological, multimodality records and create reports and trade reconstructions.
  • Effective working relationship with key systems providers.
  • Ease of integration.
  • High security standards.

*The scope of recent regulations is far wider than just banks and many types and sizes of trading entity are affected.

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