BT Launches Virtual ITS to Enhance Trading Communications for Hedge Funds

New York - 19 June 2007

BT, one of the world’s leading providers of converged trading communications, today announced at the Securities Industry and Financial Markets Association (SIFMA) Technology Management Conference in New York that it has launched Virtual ITS, a fully managed in-network service for converged trading communications. By utilizing Virtual ITS, firms with less than 25 trading positions can have all the benefits of BT’s standard-setting ITS.Netrix trading turret, without investing in on-site communications equipment or technical expertise.

The new Virtual ITS service will be provided through the BT Radianz Shared Market Infrastructure. All connectivity and infrastructure are made available in the network, and all management and support services are provided by BT’s 24-hour specialized Global Financial Services support team. This enables BT to provide superior levels of redundancy not typically affordable to small firms, which enhances business continuity.

Phil Mottram, Managing Director Trading Systems, BT Global Financial Services, said: “The voice trading environment is moving to a network-centric model, and the launch of Virtual ITS is a high-profile first step in that strategy. The buy-side, especially hedge funds, is constantly looking for innovative ways to enhance trading technology without having to manage it on a proprietary basis. Virtual ITS enables market participants to enhance their trading effectiveness, business continuity and lower their total cost of ownership. This is a key example of BT’s flexibility to offer trading solutions to all types of financial institutions both big and small.”

The functionality of Virtual ITS is identical to that used by the largest and most sophisticated trading institutions worldwide, but with none of the overhead associated with installing and supporting on-site equipment. The service also supports a wide range of BT user devices and applications, including ITS.Netrix, ITS Anywhere for IP phones, Web, mobile and BlackBerry and ITS Myriad. For the first time, these trading rooms will have access to the most sophisticated communications and collaboration tools and user devices, provided on a simple pay-as-you go monthly service basis.

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