BT has signed an agreement to acquire IP Trade SA to boost communications for trading floors and control rooms.
The deal underlines BT’s continued investment in voice trading and turret solutions, something that has been steadily declining over recent years as more trades become automated.
BT said the acquisition will improve its customers’ ability to trade and control from a variety of devices, including desktops, software and regular office phones.
Chief executive officer of global services at BT, Luis Alvarez, explained BT is “fully committed to maintaining and supporting our existing customers through delivery of BT’s own and IP Trade solutions against our product roadmap.”
One in three traders currently use BT’s Netrix turret series worldwide, amounting to more than 680,000 traders in over 800 trading companies across 60 countries.
Jean-Francois Geys, chief executive officer at IP Trade, added the acquisition will see clients “benefit from optimised global solutions that meet their needs today and into the future.”
The deal is expected to close in the first quarter of this year, although it is subject to regulatory approval.
BT recently opened the doors of its innovation lab - BT Infinity - to The TRADE for an insight into the workings of its FinTech exploration centre.
To read about the visit, click here.