Scotiabank, the Canadian-based bank providing a complete range of retail, commercial, corporate, investment and international banking services, has appointed Red Box Recorders as its preferred partner for call and data recording for Scotiabank Trading floors.
As a result, Red Box will implement its Quantify Recording Suite at eight locations to ensure regulatory compliance across the bank's trading operation.
Red Box Recorders has teamed up with Bay Street 1861 to develop and implement the solution, replacing an ageing, legacy recording system that no longer met Scotiabank's operational needs or possessed the necessary channel capacity. It will provide a total of 1,200 channels with an individual recorder installed at each location to provide local control and a media server to deliver central visibility.
Red Box Quantify will be integrated seamlessly with Scotiabank's BT trading floor system to record all fixed line trader communications. In addition, the system will also enable the replay of historical calls via the trading turret, enabling traders to access record and playback functionality.
Keith Hill, Senior Manager for Network Services at Scotiabank Trading floors commented: "We needed a recording solution that has the scope and functionality to be used across our multiple trading sites. The ease of use and flexibility of the Red Box Quantify system means we are best placed to meet our recording needs now and in the future."
Lee Jones, CEO of Red Box Recorders said: "Red Box Quantify voice recording ensures regulatory compliance, supports critical business processes and aids cleaner markets by deterring market abuse. As a result, we are now partner of choice for an increasing number of leading banks and financial institutions."