COVID-Secure versus Compliant – the ultimate compromise for financial traders? It doesn’t have to be

The UK government message may have changed from Stay Home to Stay Alert but the days of the packed trading floor or busy office are still some way off and “work from home if you can” is still the mantra.

The Hertfordshire-based technology company, Qubic Group plc has been developing relationships with Wesley Clover, the Canada-based group headed by Sir Terry Matthews and is now introducing the game-changing Eclipse trading system to the London market.

In London, the FCA has tried to give more leeway for those trading away from the office.

“Firms should continue to record calls, but we accept that some scenarios may emerge where this is not possible. Firms should make us aware if they are unable to meet these requirements. We expect firms to consider what steps they could take to mitigate outstanding risks if they are unable to comply with their obligations to record voice communications. This could include enhanced monitoring, or retrospective review once the situation has been resolved.”

Having to rely on newly devised mitigation processes, although helpful in the short-term, may not necessarily provide the longer-term answer as we learn to live with COVID-19 moving forward.

Eclipse provides a single platform for ‘trading anywhere’. The system can be used with an expandable, fully featured turret as well as with a soft turret. All voice traffic can be routed through the primary office telephony platform and provide fully compliant voice recording irrespective of the device being used or the location.

Eclipse helps traders re-create the office environment at home with all their familiar, essential tools on-hand so they can work efficiently and effectively. They do not have to rely on clunky workarounds that cost time and can lead to mistakes when they’re trying to work orders, manage flows, oversee risk and serve clients.

Al Pigliacelli, SVP and Founder of Wesley Clover Solutions comments “The new integrated communications system combines Eclipse trading devices with associated soft turrets, as well as full office phones and features. The All-In-One Cloud-based solution supports line-bridging between devices, recording, internal hoot & holler, voicemail and much more. Eclipse is front and centre when it comes to flexibility and ‘trade-from-anywhere’ technology.”

Chris Papa, CEO of Qubic Group plc commented, “We deliver integrated voice and data to London-based companies from our own Cloud Core as well as aggregating services such as Microsoft Azure (we are Microsoft Gold Partner) and AWS. One the voice side, we are one of a handful of Mitel Cloud Build partners.

Through lockdown, we have been helping a broad range of business to successfully have their staff working from home with technology like Microsoft Teams, Unified Communications, softphones and teleworker licenses. The Eclipse trading system with its physical devices and soft turrets, integrates tightly with our existing platforms to deliver compliant remote trading, not just for now, but as we emerge from the current pandemic working-practices may change permanently as organizations turn to flexible working to improve efficiency and help their people achieve a better work-life balance.”

“I’ve been working with Chris and Joe and Qubic for more than 25 years,” says Wesley Clover International Founder and Chairman, Sir Terry Matthews. “Qubic has always been an innovative reseller that has deployed technology in clever ways to deliver solutions to complex problems. I am pleased to see Wesley Clover Solutions and Qubic partnering to develop business together in London and the rest of the UK. While Eclipse is one of the first product sets that Qubic is taking on from our company portfolio, I look forward seeing the business relationship deepen moving forward.”