Standard Chartered banks on Syntegra for New York trading floor

Standard Chartered banks on Syntegra for New York trading floor

Standard Chartered Bank is to deploy Syntegra’s ITS voice trading technology at its new New York trading floor at 1 Madison Avenue, as part of a relocation following the collapse of 7 World Trade Center on September 11 where the bank had its offices.

Immediately following the attacks, Standard Chartered Bank began operations from its back-up site in New Jersey - on a slightly reduced scale, due to limited space. Syntegra provided a temporary system, and 21 traders at the back-up facility are currently using ITS pV405i turrets and pVs41i speakers, supported by a p27 switch. Syntegra also provided voice recording from NICE.

Max Kofman, vice president, global technical service delivery manager at Standard Chartered Bank, says: "We were particularly impressed with the response received after September 11 when Syntegra swiftly fitted out our back-up site within a very tight schedule. We chose to continue using Syntegra technology for these reasons."

Standard Chartered Bank staff at the new offices will use the latest IP-ready Syntegra turrets running on ITS Release 13. In total, there will be 43 Syntegra positions, with 24 foreign exchange traders using ITS pV405Hi turrets and 19 corporate and non-banking financial institution sales staff using pV205Hi turrets. Standard Chartered Bank will be the first non-exchange customer to use the pV205Hi turrets.

Kofman continues: "We chose Syntegra’s new IP-ready pV405Hi and pV205Hi turrets for our new building for space saving reasons - both on and underneath the desk. Looking forward, we are considering the deployment of the ITS Myriad collaborative trading platform which has the potential to assist us in improving customer service."

In addition, front office traders will use Syntegra’s pVs41i speakers, and both turrets and speakers will be supported by an ITS p47 switch. As a systems integrator, Syntegra also supplied voice recording from NICE, an intercom system from Speakerbus, and integration with the Nortel Meridian PABX at the new site.

All technology provided will be covered by a five-year maintenance contract.

The new trading floor in New York is scheduled to go live in August 2002.

Standard Chartered Bank currently uses Syntegra’s voice trading technology in London, Hong Kong, Mumbai (Bombay), Singapore, Tokyo and seven locations in Africa.

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