The image of the globe-trotting trader, dashing to the next team meeting in London, New York, Frankfurt or Shanghai is easy to imagine. But while the industry is more globalised than ever, the technology to support these on-the-move employees has been slow to catch up, until now.

Much of the demand for dedicated mobile devices and software comes from the growth in consumer smartphones over the past few years. BlackBerrys, combining voice and email, have always been popular. But it’s only recently that these devices, along with iPhones and Android phones have offered flexible data access, large colour screens and web browsing. For the average consumer, it means being able to surf, chat and mail wherever the day takes you. A trader is more likely to ask why he can’t use an equally advanced device in the workplace or on the move.

Demand is also being driven by the growth in cross-border orders. Increasingly complex derivative products require traders to travel, meet and work in teams. As more and more traders find themselves working away from their home office, it’s not enough just to be available on email, text or voice. And as markets move faster and faster, traders can’t be blind to market movements when they are away from their main office.

Recent events have highlighted the need for more versatile and secure mobile devices. The 2009 H1N1 pandemic and the eruption of Eyjafjallajokull in 2010, led to severe travel restrictions imposed by travel authorities or by trading institutions themselves keen to protect the well being of employees. Most trading floors have strong, traditional business continuity plans – a second location where the team can set up quickly in the event of a local catastrophe. Today, the trading floor needs to travel with the employee. They need a lighter solution to trade from wherever they are. In response to this and in a bid to combat insider trading the FSA has made it mandatory from  November 14th 2011 that investment banks will be required to record and store their traders' mobile phone calls.

The interest in mobile trading is set to grow in 2011 with existing solutions on the market which enable calls and SMS messages to be recorded. Firms now need to start thinking about how they are going to put this into action.

Thierry Charvet,
Head of Marketing & Strategy, Orange Trading Solutions