Interdealer broker TP ICAP has inked a seven-year contract with BT to deploy its software-based platform to boost its voice trading processes with remote working capabilities.

The contract will provide TP ICAP’s Brokerage team of 700 in London with the secure platform, known as BT Trading, and applications featuring remote working capabilities, said BT in a statement.

BT Trading is a unified communications and collaboration (UCC) platform global capital markets that can be accessed remotely and is integrated with Microsoft and Cisco communications platforms.

TP ICAP’s implementation will decrease its operations expenditure by reducing the real estate needed for technology infrastructure and disaster recovery sites, BT added. The institution’s brokers will be able to access the platform remotely through the soft turret app, which replicates the platform on a mobile device or PC the hardware turrets.

“Our global broking business enables our clients to execute trades across multiple asset classes and markets,” said group chief operating officer of TP ICAP, Martin Ryan. “Excellent client service is a prerequisite, and this system enables us to meet those demands. BT’s deep knowledge of voice and collaboration technology complements our wider ambitions to improve the efficiency of our client-facing services.”

BT Trading also automates voice recording and verifies enforcement of recording for regulatory compliance purposes. The technology provider also recently added an automatic logging off safeguard if there is a problem with the recording service, ensuring that unrecorded trades cannot take place.

“We look forward to working with TP ICAP to give its brokers the best technology experiences when communicating with colleagues and customers,” said Bernadette Wightman, managing director of banking and financial services at BT. “TP ICAP prides itself in excellence in everything it does, so we’re delighted it has chosen our BT Trading platform as it transforms its trading floor operations to enhance agility, customer service, and compliance.”

Earlier this week, TP ICAP confirmed it is in advanced discussions to acquire institutional trading network Liquidnet for up to $700 million. The discussions are on the purchase of the entire issued share capital of Liquidnet and its subsidiaries for between $600 million and $700 million.

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