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IPC Systems, Inc is a provider of trading floor communication systems and network services to financial entities[1] including investment banks, hedge funds and investment managers. [2] The company’s written aim is to deliver “unified solutions that support collaborative voice trading, real-time electronic trading and market data connectivity” [2] via a proprietary managed private IP network [3] to financial market participants, globally. [4] IPC provides and services voice communication systems that facilitate operations within the financial industry. The firm is known for creating and updating trading turrets – specialized, multi-line, multi-speaker communications devices used by traders. Turrets can have access to hundreds of lines and allow traders to monitor multiple connections simultaneously to maintain communication with counterparties, liquidity providers, intermediaries and exchanges.[5] IPC’s communication systems aim to consolidate voice functionality, traditional phone lines, broker lines, intercom, teleconferencing, TV sound and PC sound-into a single unit. [6]

History

[edit]

Headquartered in Jersey City, New Jersey, IPC employs approximately 1,000 employees throughout the Americas, EMEA and Asia-Pacific regions. [2] IPC was founded as Interconnect Planning Corporation as a consulting company in 1973. This changed when Republic National Bank approached IPC founder Stephen Nichols with a request to improve upon the bank’s trading hardware. [7] Consequently, IPC introduced its Series I turret in 1974. The product cost approximately $75,000 to develop. The Series I used momentary contact buttons to send a signal to the backroom relays to switch calls, rather than relying on rods and levers and switching at the turret itself like other equipment of the day. [7]

IPC was the first to use Voice over Internet Protocol (VoIP) on the trading floor to reduce communication costs and increase productivity.[3] The company introduced the first VoIP-based turret in 2001 and its second generation VoIP based turret, the IQ/MAX, in 2006. [8] Clients of IPC’s VoIP solutions include Barclays, Deutsche Bank, Bank of America [1] and Merrill Lynch. [9]

See Also

[edit]
  • See also: Trading turret

References

[edit]
  1. ^ a b Morton, Jonathan. "Beyond the Turret: Trading Floor Communications", TabbFORUM, 21 March 2011. Retrieved on 10 June 2013.
  2. ^ a b c "IPC Systems Rings The NASDAQ Stock Market Closing Bell", Nasdaq, 31 July 2013. Retrieved on 10 June 2013.
  3. ^ a b Fangqing, Wang. "Turret Maker IPC Gains Ground in Asia", Securities Technology Monitor, 26 March 2007. Retrieved on June 2013.
  4. ^ Private Equity Council "IPC Systems Inc.: Private Equity Stewardship Builds World Class Communications Company", PEGCC, 19 July 2011. Retrieved on 10 June 2013.
  5. ^ "Capturing Traders’ Hearts and Minds with Practical, Beautiful, Foolproof Design", Frog Design, Retrieved on 10 June 2013
  6. ^ Beck, John. "Trading Floor Makeover", 01 July 2009. Retrieved on 10 June 2013
  7. ^ a b "Waters Hall of Fame", Waters Technology, 01 January 2000. Retrieved on 10 June 2013
  8. ^ "Trading Newsflashes: Silver Lake Partners Acquires IPC Information Systems From GS Partners for $800 Million", Wall Street and Technology, 03 August 2006. Retrieved on 10 June 2013
  9. ^ Jawoski, Alexa. "Merrill Installs IPC VoIP Trading Turrets", Securities Technology Monitor, 19 November 2007. Retrieved on 10 June 2013

History

[edit]

Headquartered in Jersey City, New Jersey, IPC employs approximately 1,000 employees throughout the Americas, EMEA and Asia-Pacific regions. [1] IPC was founded as Interconnect Planning Corporation as a consulting company in 1973. This changed when Republic National Bank approached IPC founder Stephen Nichols with a request to improve upon the bank’s trading hardware. [2] Consequently, IPC introduced its Series I turret in 1974. The product cost approximately $75,000 to develop. The Series I used momentary contact buttons to send a signal to the backroom relays to switch calls, rather than relying on rods and levers and switching at the turret itself like other equipment of the day. [2]

IPC was the first to use Voice over Internet Protocol (VoIP) on the trading floor to reduce communication costs and increase productivity.[3] The company introduced the first VoIP-based turret in 2001 and its second generation VoIP based turret, the IQ/MAX, in 2006. [4] Clients of IPC’s VoIP solutions include Barclays, Deutsche Bank, Bank of America [5] and Merrill Lynch. [6]

See Also

[edit]
  1. ^ Cite error: The named reference nasdaq was invoked but never defined (see the help page).
  2. ^ a b "Waters Hall of Fame", Waters Technology, 01 January 2000. Retrieved on 10 June 2013
  3. ^ Cite error: The named reference wang was invoked but never defined (see the help page).
  4. ^ "Trading Newsflashes: Silver Lake Partners Acquires IPC Information Systems From GS Partners for $800 Million", Wall Street and Technology, 03 August 2006. Retrieved on 10 June 2013
  5. ^ Cite error: The named reference morton was invoked but never defined (see the help page).
  6. ^ Jawoski, Alexa. "Merrill Installs IPC VoIP Trading Turrets", Securities Technology Monitor, 19 November 2007. Retrieved on 10 June 2013
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