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GFI Group

Published 15 March 2010 | By CyberTech

Following a successful trial period GFI Group, a leading worldwide inter-dealer brokerage, has implemented the CyberTech Pro voice recording platform.

GFI implements CyberTech Pro call recording solution across its operations following a successful trial period.

The background

Following a successful proof of concept trial, GFI Group, a leading worldwide inter-dealer brokerage, has implemented the CyberTech Pro voice recording platform across 324 IPC trader positions and 220 Cisco IP telephone extensions in its new European headquarters in London.

Instant access to communication recordings for verification purposes has been at the top of the priority list after the recent office premises move for GFI. "The main thrust behind implementing this solution across our operation was to ensure that all our controls continue to comply with external regulations", said David Howard, IT Support Manager of GFI in London.

CyberTech's Pro platform permits swift search and retrieval of recorded communications across both dealerboards and telephone communications. Retrieval may be made by trader ID or by telephone number search. This enables speedy dispute resolution and transaction verification on busy trading floors, and the solution integrates fully with the organisation's IT security systems.

"A rigorous trial of the CyberTech Pro was necessary in order to ensure that the recorder met all the mandatory requirements and that it would be a perfect match to fit with our strict IT security policies", continued Howard. "The fact that we could use our preferred hardware provider within our existing IT model with the CyberTech Pro without any conflicts of hardware or software, meant that not only were costs of deployment reduced but ongoing support costs would also be significantly lower".

Reliable and affordable

With hundreds of trading positions, back office and compliance staff to record, it was important that GFI found a solution that met both reliability and budgetary requirements. "CyberTech proved that their system not only met, but exceeded our requirements during the trial, and have continued to prove the capabilities of the system since its installation" stated Howard.

The right solution

CyberTech Pro was sold and installed by CyberTech UK Ltd., the UK wing of CyberTech International. "We recognised that such a large installation involving both a sophisticated dealing system and IP telephony in a brand new building required careful planning" commented Paul Manyweathers, Managing Director of CyberTech UK Ltd. "By working closely with GFI, we were able to deliver the solution on time, on budget and with everything fully operational from day one."

Custom Integration

CyberTech UK's custom written IPC integration and Cisco call manager integration provided GFI with the capability to search by dialled number, CLI, Trader ID, Extension ID as well as the traditional method of date and time. David Howard said: "We have been able to dramatically reduce the time taken to find recordings, and we already have examples of significant financial savings over our previous solution provider."

As well as the functional improvements demonstrated by the CyberTech recording platform, the ease of installation, scalability and open architecture provided unique benefits to the CyberTech proposition. Howard added: "CyberTech was a new name to us and we recognised that there was a risk involved in not purchasing our new voice recorder via one of the traditional city franchises. CyberTech not only proved the suitability of their system, but also demonstrated a willingness to work with my team to provide an exact fit for GFI's environment."

Looking to the future

Since the original installation of 1440 channels of recording in London, GFI has also deployed the CyberTech Pro solution into the Paris trading room and across its Asian sites in Hong Kong, Singapore and Tokyo.

Howard added: "Having worked closely with CyberTech UK, who were able to deliver on time and on budget with everything working as it should from day one, we look forward to developing further our ongoing relationship."

GFI Group

GFI Group Inc. is a leading inter-dealer broker specialising in over-the-counter derivatives products and related securities. GFI Group Inc. provides brokerage services, market data and analytics software products to institutional clients in markets for a range of credit, financial, equity and commodity instruments. Headquartered in New York, GFI was founded in 1987 and employs more than 1,300 people with additional offices in London, Paris, Hong Kong, Tokyo, Singapore, Sydney, Englewood (NJ), and Sugar Land (TX). GFI provides services and products to over 1,700 institutional clients, including leading investment and commercial banks, corporations, insurance companies and hedge funds. Its brands include GFI™, Starsupply®, GFInet®, CreditMatch®, FENICS® and Amerex®.