The New York Mercantile Exchange is the latest financial entity to decline the telecom technology that turret-makers promote. With its commitment to open outcry trading, the New York Mercantile Exchange (Nymex) has a special love for the clear tones of shouting traders, so its telephones are close to its heart.<\/p>\n","protected":false},"excerpt":{"rendered":"
But while opinion about the suitability of the latest telephony technology, the Voice over Internet Protocol (VoIP), has been vacillating between whether to adopt it or not within financial institutions, Nymex is holding firm in ruling out the possibility of using the technology for now.<\/p>\n
When Nymex officials opted for a digital voice network to replace the legacy V Band analog turret system, they explicitly opted out of using VoIP for the more than 700 trading turret positions. According to John Barbara, director of telecommunications for the IS department of Nymex, the exchange chose the BT ITS voice trading system over a similar offering from rival IPC Information Systems. “Both BT and IPC came up with a four-handset solution, so we put two four-handset turrets in each booth.<\/p>\n
Nymex chose the BT ITS solution for its 450 trading position on the Nymex trading floor, where traders deal in energy, crude oil, gasoline, heating oil, natural gas markets and platinum group metals. Nymex also purchased and implemented 290 positions at its sibling Comex division, where traders deal in gold, silver, copper and aluminum.<\/p>\n
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