Fabric Technologies, a London based systems integrator offering voice, data and networking solutions to investment banking and trading organisations, announced the formation of a strategic partnership with Obsidian Wireless – the market provider of mobile phone recording solutions.
The formation of the partnership follows the recent (but long-anticipated) announcement by the Financial Services Authority (FSA) that it is to remove its exemption on mobile phone recording. This was originally granted following the establishment of legislation in 2008 which made the recording of fixed line calls compulsory.
The announcement that the exemption would be removed was made on 14th November 2010 and the FSA has stated that financial services companies have 12 months to ensure their full compliance. All FSA registered businesses must ensure that they are able to record calls made and received on mobile phones in addition to text messages, Instant Messaging, emails and other forms of mobile electronic communication. Recorded information must be retained by companies for a minimum of six months.
Fabric will be offering Obsidian’s Mobile Compliance Suite™, an end-to-end solution which has been developed specifically to help financial services firms comply with both the FSA legislation and EEC privacy laws.
Fabric’s partnership with Obsidian Wireless follows its successes in providing tailored solutions to financial services companies. These include customised deployments of SIP based trading turrets produced by IP Trade – an industry leading vendor who last year recognised Fabric as its Global Partner of the Year.
Fabric also has extensive expertise and a strong track record in providing high frequency trading networks and latency management solutions to financial services firms including, Hedge Funds, Market Makers, Algorithmic Traders and Investment Banks.
The FSA’s official policy statement provides detailed information about the legislation including a full list of requirements.
D.C.