CIBC World Markets upgrades with Syntegra

CIBC World Markets upgrades with Syntegra

CIBC World Markets has completed the installation of new Syntegra voice trading systems in New York and Japan, and extended managed dealing room service contracts with the vendor in Toronto, Montreal and London.

The New York installation was completed two months after the September 11 attacks on the World Trade Center and entailed the installation of ITS pV405i turrets, pVs81i speakers and pVM5i platform intercoms for 150 positions at a new trading floor on Fifth Avenue.

"The new trading room was fitted out in just five weeks, with both Syntegra staff and CIBC staff working around the clock to accommodate our needs," says Mike Dear, VP, who led the CIBC technology recovery programme after the firm was forced to move from its offices at One World Financial Center.

In Tokyo, CIBC World Markets went live with the latest Syntegra voice trading technology in early May, following a decision to refurbish and consolidate its trading room into one area. The new room consists of 19 positions, with traders using Syntegra's ITS pV405i turrets and pVs81i speakers.

CIBC currently uses Syntegra's technology at its trading floors in Boca Raton, Hong Kong, London, Montreal, New York, San Francisco, Singapore, Tokyo and Toronto.

Mike Loftus, executive director and head of technology planning at CIBC World Markets says the firms is in discussions with Syntegra about its ITS Myriad collaborative trading platform. "(We) are evaluating Voice over IP to deliver cost savings from combining voice and data on the same network between CIBC offices and for remote working," he says.

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