BT has today announced new voice recording capabilities that help UK financial institutions to address requirements of certain new FSA regulations. These regulations, which come into affect in March 2009, require all telephone conversations relating to client orders and transactions for the equity, fixed income and derivative markets, to be recorded and stored securely for six months.
BT's ITS Recorder is a voice recording system that captures, indexes and retrieves customer interactions and trading transactions for the front and back office. It delivers a secure recording system that uses digital watermarking of the calls, proving calls have not been tampered with, and supported by a unique audit trail that enables the filtering of irrelevant messages. Encryption onto removable media ensures the integrity of the recorded data and also protects against malicious attacks on the data.
Concurrent with the development of ITS Recorder to support new market regulations, BT also offers the following capabilities for any trader:
- Comprehensive recording capabilities for the ITS platform as well as the PBX
- The ability to record irrespective of whether the turrets are connected to the ITS platform over TDM or IP, extending the hybrid IP and TDM delivery capability of the ITS platform
- Compatibility with previous generations of ITS platforms
- Replay capabilities directly from ITS.Netrix or a PC web browser
Tim Furmidge, general manager, Product Management, BT Global Financial Services, said: "The new FSA regulations recognise that voice trading is here to stay. As the new rules come into effect in March 2009, the clock is ticking for each trading institution to put in place a robust voice communication recording solution that fulfils its compliance obligations. With the ITS Recorder, BT offers a new generation of voice recording that provides a seamless, consistent and efficient solution that helps firms to address these new regulations."