Merrill Lynch plans VoIP trading system

An advanced financial trading system with VoIP features is set to spread worldwide, it has been announced.

A deal with IPC Systems will see financial services firm Merrill Lynch introduce new trading desktop systems with a VoIP upgrade on its two largest trading systems in New York and London, as well as other trading floors around the world.

Using a VoIP-powered system will reduce outgoings on call costs and allow the service to be monitored in real-time which should ensure high reliability.

Tony Kerrison, Merrill Lynch's chief technology officer for global technology infrastructure, said the system will offer "what matters most to our traders - efficiency, dependability and user-friendliness".

He added that the VoIP technology will " provide our traders with highly advanced, reliable and collaborative trading floor communications."

According to Dow Jones Newswires, Merrill Lynch is investing $100 million (£50 million) in the VoIP trading systems and four data centres in London and New York, all of which will be implemented in early 2008.