Traders are facing unprecedented levels of regulation, as their employers are forced by law to track, record and store every trade-related communication – whether over the phone, email, or increasingly over new technologies such as Instant Messaging (IM), or even social media platforms.
At the same time, they are expected to comply with stringent data privacy laws (such as the Data Protection, Electronic Communications and Companies Acts) which mean companies have a legal duty to protect confidential data, and to ensure that it is stored and handled safely. They are also under significant pressure from customers (as well as legal bodies) to respond to the issues of lack of trust and transparency around large deals, which must now be analysed and de-risked.
The impact is nowhere more strongly felt than in the back office, where the trading room systems, processes and technology automation are managed. As a result, integrating back and front office technology has never been more critical, to achieve four key things:
- Enable traders to perform more effectively by communicating over multiple platforms
- Connect the entire process, from information to sale, across these platforms
- Record, store and track trades from initial contact to the sale to ensure compliance with regulations
- Simplify procedures for organisations to analyse communications connected with a trade.
Download the whitepaper The Trading Room of the Future here.
