Trading firms are under pressure to achieve cost savings upward of 20%, and one way to reduce costs is to change their turret procurement strategies.
TowerGroup recommends that securities firms adopt six new strategies to gain more control over the costs of the voice communication infrastructure, the most important being prolonging the life of a turret.
The greatest potential for new demand for turrets comes from commodities trading desks and emerging markets activity, especially in Asia.
TowerGroup predicts that a change in procurement strategies will reduce the number of new turret installations at a compound annual growth rate of -4.5% over the next five years.
Turret providers will respond with products designed to accommodate the reduced need for voice brokering and with lower price points such as the light turret (or "turret lite").
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