Intrduction to the Market and its terminology The term 'trading turret' commonly refers to a specialised telephony key system, used by financial traders in conjunction with other tools that make up their voice trading platform. Voice-based trading turrets are commonly used by traders who all use voi…
Intrduction to the Market and its terminology
The term 'trading turret' commonly refers to a specialised telephony key system, used by financial traders in conjunction with other tools that make up their voice trading platform. Voice-based trading turrets are commonly used by traders who all use voice to establish, secure or close a deal, and therefore require a highly specialised system. Turret systems have a number of specific requirements based on a Trader's usage. These requirements revolve around dedicated point-to-point and large distribution 'hoot-n-holler' circuits (circuits that allow on-going two-way communications without the need to physically activate hand-sets). Due to these requirements most Turrets have multiple speaker units and large numbers of present lines, generally shared by teams or in some cases globally across whole trading organisations. A set of software functions such as conference 'barge-in' and dynamic key paging usually support these areas described above and separate the Turret from a standard voice solution. Infinet Financial Systems (IFS) Infinet is setting a new direction for voice in the trading room and beyond. it is becoming a leading provider of voice trading platforms in Asia in the short term and into the US/UK and globally in the medium term. Infinet will do this by being disruptive to the known paradigms in the industry
Infinet will set a completely new level of price/performance Infinet will fundamentally change the distribution model for the industry, stripping away cost and delivering better solutions to the customer Infinet will utilise a unique mix of proprietary and open-source software to replace hardware in key aspects of the finished solution delivering to-date unheard of levels of flexibility and capability Infinet will provide fully distributed solutions that provide new levels of capability top the customer Infinet will provide new levels of environmentally efficient solutions to a market at present untouched by the green revolution Infinet have an unequalled management team focussed on this vertical sector
Infinet's offering – the Adaptive Trading Platform (ATP) is a superior voice-trading solution supported by vertical applications for the Trading Room.It is based on patented software combined with off-the-shelf hardware and is a platform that has no single point of failure and virtually limitless scalability. These two items in themselves are things that NO other provider can deliver. The ATP was designed and functions as a fully non- blocking (and the only totally resilient) Trading System, unlike many other solutions which are built around PBX systems or are centralized offering less flexibility. The other and perhaps most important issues in favor of the ATP is its fully-distributed nature and the deployment of the 'Mixer' technology on this fully distributed basis. This means that when deployed, the central costs are much diminished compared to the competition and the costs can be recovered on a linear basis, enhancing per position margin recovery on a planned basis.
Discussions with potential partners and customers have shown that whilst initially aimed at Trading, and by extension, the Trading Turret, the ATP has further multiple applications, in major markets, including command and control, utilities, security and defence.
The initial addressable turret market is estimated at being 220,000 Traders with supporting industry revenues of $2,200 M, an industry with an average 'churn-rate' (the measurement for technology replacement) of 5 years deriving $440M per annum in new sales. Maintenance adds a further $200M to this market. Customers who use voice at the Trading desk are at the 'tipping-point' where the unique demands of the industry will be better satisfied by an IP standard. This technology shift enables them to increase overall productivity whilst introducing new levels of capability. In the first year of development and lauch of the platform, Infinet has achieved the following
Been implemented into 'test-beds' of 4 global customers (a standard pre-sale requirement) Sold single, multi-site and 'as-a-service' solutions directly and via partners in 5 territories Implemented the biggest successful test of Voice Trading technology ever
Infinet is requesting a further US$ 3M funding to complete the final stages of the development of the ATP. The current run rate will increase from $200 to $300 k per month. This extra funding will be used to finish the development 'roadmap. to ensure it works even more effectively over Telco and subscriber networks, as a private cloud-based solution, as-a-service based data center solution and to extend the set of advanced applications being requested from customers.
All represent major additional revenue opportunities.
The money will also be used to add extra implementation resource as Infinet believes it has to date , and continues to, turn substantial business away, preferring to focus on product completion at the expense of taking on extra resource.
IFS Senior management: Stephen Phillips - CEO
Steve has 29 years' experience in trading room technology, throughout the world, working in sales, business development and support with many of the industry's leaders. Most recently, Steve has been based in both Japan, where he served as Managing Director, IPC Information Systems, Asia / Pacific and in the US, where he was BT Trading Systems Regional Operations Director North & South America.
Huw Williams - CTO Huw has over 26 years of experience in the Financial IT industry, including 20 years of experience designing and managing Order management and Trade processing systems for major multinational institutions that include JP Morgan Chase and Deutsche Bank Securities. Huw co-founded Denphone K.K. in 2004, growing the business to become one of the premier Asterisk and IP telephony specialist firms in Japan.
Marc Steatham - CMO Marc has over 20 years' experience in trading room technology, throughout the world, working in marketing, strategy and business development with most of the industry's leaders. Most recently, Marc has been based in New York, where he served as VP of Strategy for IPC Information Systems. Marc has consulted in all things voice for the trading room in the last few years working at BT and Orange Business Services amongst others. Colin Knight - SVP Europe Colin has over 30 years' experience in trading room technology. He has worked in all areas of vendor operations and supply, including Syntegra (BT) Managing Director North America and IPC Information Systems President EMEA. Colin has overseen all aspects of vendor supply from supply chain through to distributor and partner management. Philip Riseley - Managing Director, APAC Phil has over 30 years' experience in the Telecoms Industry working for both vendors and financial institutions, working at Cybertech International as Managing Director APAC and IPC Information Systems – Operations Director NE Asia. Phil has also worked on the 'customer side' of the business with positions held at Salomon Smith Barney and Citibank.
Colin Jones - Non-executive director Colin Jones has 18 years' experience as a lawyer. Positions he has held include Associate at Simpson Thacher & Bartlett and Counsel at Latham & Watkins. Colin was also in-house counsel at a major international telecommunications firm, involved in a wide variety of transactions throughout the business world with specific extensive experience in telecommunications, IT, finance and cross-border transactions.
Team (1)
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