Etrali Trading Solutions, the global IT integrator for trading, today announced that TASS Wertpapierhandelsbank GmbH (TASS) has deployed a complete unified trading communications solution across its trading floors in London and Hofheim, Germany.
TASS is one of the leading firms for trading in floating rate notes and fixed bonds. They also operate in institutional market data subscriptions and real assets for private investors, such as gold, silver and diamonds.
The deal sees TASS connect to Etrali Trading Solution's private cloud platform and includes fully compliant turrets, trading connectivity to counterparts and liquidity pools along with a complete business continuity planning solution. This enables TASS to consolidate suppliers, move to a unified communications architecture and comply with upcoming regulations around call recording, such as Dodd Frank, with its in-built recording and storage capability.
The solution drastically reduces total cost of ownership for TASS, as well as cutting operational and implementation costs through consolidating vendor agreements into a single source and minimising costs associated with integration into existing technology. Etrali Trading Solutions has been working with TASS since 2008 and in 2012 was a key partner in opening TASS' London office.
Joerg Suchomel, Head of Trading, TASS said, "Etrali Trading Solutions was the only provider who was able to offer a complete solution at a competitive price and was the obvious choice for us, extending the relationship we have with them. Compliance and cost reduction are major themes in the industry at the moment and this solution helps us fulfil these needs. That, combined with the fact that our traders can work from anywhere in the world with the same control as if they were on the trading floor makes Etrali Trading Solutions a perfect match for us."
Guido Reynaerts, Vice President NEE, Etrali Trading Solutions said, "We've been working with TASS for a number of years now and it's a testament to that partnership that we've brought them on to this unified trading communications solution. With regulators becoming ever more demanding we're seeing an increasing number of institutions upgrading their trading compliance capabilities. It's clear, also, that the compliance burden will only get heavier and ensuring that your systems are future-proof is paramount."
The solution was operational within five weeks and is now live. It will also enable TASS to connect with over 2,000 trading community members within the Etrali Trading Solutions network.