AmInvestment Bank Berhad (AIB), one of Malaysia's leading investment bank groups, is wrapping up a beta test of IPC Systems' Unigy Platform, a unified trading communication solution.
As part of a technology overhaul, AIB's beta test of Unigy has been in full operation since April 18, with 55 traders actively using the system and the new Unigy-powered IQ/MAX Edge turrets on the company's trading floor.
"Our traders have been very pleased with the introduction of Unigy and the new Edge turrets," says John Tan, director and head of equity markets, AIB. "The new user interface with the Edge turret and the Unigy platform provide traders the ability to easily tailor the turret to their specific needs. The new application launch pad provides traders easy access to line appearances, contacts and speed dials, and their communications history."
"The Unigy backroom allows us to quickly deliver new trading connections and voice applications required to support our trading operations," continues Tan. "With the Unigy Management System we can also more easily meet our reporting requirements for compliance and regulatory needs."
In an interview with Advanced Trading, IPC says that the implementation went smoothly.
"The network is a software-based system. The client gave us remote access into the system. While we had people onsite monitoring the system we had the ability to have our engineers monitor and help the client with any concerns that came up," Bruce Bolcer, senior manager, product management for IPC Systems, tells AT. "It went smoothly and we didn't need [the remote monitoring on our end]. It's designed to be monitored remotely so we don't have to always be there."
One of the roll out challenges was dealing with Malaysian compliance and regulation. "One thing we did have was strict client requirements on voice recording. A lot of effort and focus was in implementing and handing over the voice recording to the client. In the US, you're not required to do recording requirements like in Malaysia," recalls Bolcer.
Bolcer tells Advanced Trading that a US firm is beta testing the Unigy platform but declined to name the firm. He did acknowledge that it was a US company that was a "household name."
Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio