IP Trade, a provider of internet protocol (IP)-based trading communications, has expanded its London office and opened new offices in Madrid and Milan. The London office is headed by Chris Bates, vice president, IP Trade EMEA, who has joined from BT’s Trading Systems division.
The company says it has expanded its European presence to capitalise on the growing appetite for using voice over IP (VoIP) technology for trading communications.
According to Stephen Kimsey of Kimsey Consulting, a marketing and research advisory services consultancy specialising in the global financial, commodities and energy trading and associated technologies sector, there is an increasing acceptance of VoIP. He notes that almost three-quarters of financial institutions now regard it as a suitable technology solution for the trading floor, compared with around two-thirds in 2006. “Increasing acceptance of VoIP is creating new opportunities for the traditional vendors to be challenged by newcomers such as IP Trade with their ability to deliver low cost of ownership, nimble solutions that are easily integrated and rapidly delivered to market, and an innovative approach to unified communications,” says Kimsey.
Kimsey Consulting adds that 25,000 more trading positions are expected by 2010, and there will be an increase of approximately 2,000 firms participating in the global trading markets.