Sydbank chooses Wey Technology for trading floor revamp

Source: Wey Technology

Wey Technology, provider of trading room infrastructures, has today announced that Sydbank, Denmark's fourth-largest full-service bank, has selected Wey Technology's products to redesign its trading floor.

The revamp eliminates the bank's costs of user moves and changes and helps streamline trading floor operations. Currently, there are 90 traders at Sydbank, trading FX, equities and commodities. The bank went live with its new trading floor on 14 April.

The bank, which was previously using Reuters Prism video switch supported by WEY Technology, decided to completely redesign its trading floor to increase its user capacity. The bank opted for WEY Technology's Allocation System, which dynamically enables users to share resources, such as market data.

Max Samsø Hansen, CIO, Sydbank, comments: "Our ambition was to create the trading room of the future. We selected WEY Technology to improve the working environment and productivity of our traders and the life of our support staff that will no longer need to work out of hours to handle trader relocations. This modern technology also enables us to eliminate costs for moves and changes in the trading room."

Traders' moves and changes are one of the most significant recurring costs within a bank's trading environment. WEY Technology's Allocation System will give the bank true hot-desking capabilities. Until now, Sydbank had to coordinate up to seven internal departments and external companies in order to change the position of a single trader, incurring management costs and delays.

With WEY Technology's Allocation System, Sydbank will be able to better manage its resources and lower its data feed costs. WEY Technology's Allocation System can provide an audit trail for each service, its users and the period of time it was used, allowing the bank to closely monitor costs and allocate them to individual users, desks and business lines.

WEY Technology's Allocation System will also allow Sydbank to optimise its users' desktop real estate. Sydbank's traders will have only their screens, turrets and keyboards on their desks, with all other equipment safely stored in a remote equipmentnt room. This will make traders more efficient and productive, eliminating the heat and noise caused by their workstations; at the same time, the bank will be able to reduce its IT and energy bills, and become greener.

David Ainslie, U.K. managing director, WEY Technology, adds: "Sydbank is one of the most forward-thinking institutions and it took a long-term view in choosing technology for its trading floor. Sydbank will be the largest implementation of our Allocation Systems worldwide. Our technology enables banks to improve their traders' efficiency and productivity, reduce costs and enjoy measurable ROI. This ultimately makes them more competitive in the market."

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