Nedcor Bank Limited, Nedcor`s major banking and technology arm, has signed a R20 million deal with Dimension Data for a trading room solution - the largest deal of its kind in South Africa to date.
Dimension Data`s world-class financial trading solution, IPC Alliance, will provide Nedcor Bank with screen-based trading, remote connectivity, performance, reliability and a competitive edge.
To improve trade execution efficiencies at its Johannesburg, Cape Town and Durban offices, Nedcor Bank has chosen best of breed solutions from Dimension Data Trading Solutions, a specialist division of Dimension Data Interactive Media. Dimension Data and Nedcor Bank have partnered for several years, ensuring the financial services group uses information technology effectively to improve productivity and customer service while reducing costs. The trading room solution includes the latest Alliance switching platform from IPC, the global market leader in financial trading solutions; integrated Nice voice recorders; Paragon PC remoting solutions; distributed TV; and flat panel LCD screens.
Four flat PC screens will be positioned on each trader`s desk, with each screen serving a different purpose, from personal PC to market data display, software turret, and distributed TV. The latter, available as a window on the trader`s desktop, enables the trader to flick through several channels, including CNN and Bloomberg, and be on top of breaking news.
Certain traders will also have a multiprotocol keyboard, enabling them to operate up to six PCs or workstations from a single keyboard.
Nedcor Bank plans to implement Computer Telephony Integration (CTI), effectively linking each trade phone to a server, to give its financial traders a competitive advantage. For example, with CTI, when a trader makes or receives a call a screen comes up with the details of the caller, the trade on hand and all relevant historical data. CTI was a key decision point in Nedcor Bank`s final vendor selection analysis.
Nedcor Bank will not only have CTI facilities, but also screen-based trading. The system will have a `soft turret` which means the conventional turret keyboard appears on the trader`s PC screen for options to be selected with the click of a mouse button with "drag and drop" functionality.
Dimension Data commissioned this `soft turret` to be specially developed for Nedcor by IPC`s US software developers.
Dimension Data Interactive Media is not only able to leverage the skills of IPC, and its other suppliers, but can also draw on the skills of its dedicated team of trading floor consultants, and the Group as a whole.
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Dimension Data
Dimension Data is a leading global network services and i-Commerce solutions provider, focused on enabling enterprises, telecommunication service providers and new economy companies to communicate and transact effectively in an e-enabled environment.
Dimension Data listed on the London Stock Exchange in July 2000 and is a constituent of the FTSE 100 index. The Group has over 11,000 employees and operates in over 30 countries on six continents. It has achieved a compound annual growth rate in US dollars of 57 per cent in revenue and 36 per cent in earnings per share over the past two years.