HSBC Group in the UK has invested in Redwood’s award-winning RedMatrix conferencing system, and the RedRecorder call recording application. The applications run on a new Redwood DNX-1200 platform installed at the Group’s Canary Wharf headquarters.
With 10,000 offices in 83 countries, and 128 million customers worldwide, HSBC is one of the best known of the world’’s multinational banking giants. Its three Canary Wharf trading floors are among the largest in the UK, serving as the daily marketplace for 1,400 traders.
Communication between trader groups across the globe is an integral part of HSBC’’s banking operations. Trade-critical discussions are hosted via specialised dealer boards. The reliability and availability of these systems is therefore crucial to the profitability of the business.
HSBC traders need instant access to scheduled and unscheduled conferences throughout the trading day. The Group chose the Redwood platform for its next generation conferencing needs because it is already proven as a solution for some of the world’s premier financial institutions.
Traders have their own dealer boards, connected to a variety of lines, with each line programmed to a particular conference. The trading floors also have morning and evening conferences, broadcast across the entire floor via a public address system.
RedMatrix handles all levels of conference traffic, and offers a wide variety of additional functions that offer greater flexibility to HSBC.
A key benefit is the ability for traders to access any conference remotely, by dialing in to an allocated telephone number. Access is controlled by a PIN and security code combination assigned to each conference.
RedRecorder records all conferences and makes them available for web download by security-cleared users. It also enables recordings to be e-mailed securely to those who may have missed the conference.
Chris Newte, Product Manager for Redwood, explains that the platform’’s ability to cope with a diversity of connections was a key factor in the decision to purchase. "We were able to demonstrate strong stability, even with consistently unpredictable spikes in traffic. HSBC were looking for a platform to ensure maximum trading capacity and continuity throughout the busiest working days and Redwood delivered."