Troubled BT subsidiary BT Global Services (BTGS) yesterday announced that it has signed a five-year, multi-million euro contract with Commerzbank, one of the largest German financial institutions, to deliver managed services for the bank's voice trading systems.
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The deal refreshes a 10-year relationship between the two firms.
BTGS will supply hardware, software and services to Commerzbank's global business and financial centres, as well as on-site support at the main trading locations. The first phase will cover Commerzbank's 650-desk trading centre in Frankfurt, Germany. All domestic and international centres will follow.
BTGS will deliver and manage the ITS.Netrix voice trading system and ITS Recorder on the bank's major trading floors.
ITS.Netrix is a specialised voice communications applicaton for financial traders. It can handle multiple calls and phone conferences and has a talkback speaker system and integral intercom. It also supports IP connectivity, secure playback to desk, and distributed network architecture.
ITS Recorder was developed with BT's OEM partner, Verint Witness Actionable Solutions.
Roland Schneider, principal project manager and head of infrastructure program in Commerzbank's Dresdner Bank integration project, said: "Setting up a trading system as a managed service means we do not have to worry about planning long-term hardware investments or having to predict which way technology innovation will go."
BT's price-per-desk model gave the bank flexibility in a constantly changing business environment, he said.