The future health and prosperity of the global financial trading community depends on its ability to develop and adopt technologies that fuel efficiency. Given that the global trading floor is one of the most high-octane and high stakes environments in the industry, it is essential that trading technologies keep pace with the needs of the 21st century trader.

Almost all professional traders rely on a powerful communications tool commonly known as a "turret" or "dealer board." Built specifically for the trading environment, this tool combines multiple communications channels and applications to help traders manage critical communications workflow and to organize and process information vital to decision-making.

Historically, these tools were virtually invisible to the trader; turrets were strictly purpose built, and they served this purpose extremely well. However, despite the power on the inside, the user interface has remained largely constant. With the advent of cell phones, instant messaging, iPods and Xboxes, a new breed of trader emerged from the dust heap of telephones and tickers - traders weaned on high-end consumer technology that has had a profound influence on expectations, and the potential, of tools in the workplace. The time has come for a new approach built upon the following simple idea: power-up the tool, empower the trader.

The only place to start developing this new approach is by understanding the world of the trader. It is only by visiting trading floors, observing and speaking with traders that one begins to understand what really happens there: how they work, what occurs during their day on the desk, how they interact with colleagues and counter parties and what challenges they face.

Growing amounts of data, smaller margins and more demanding clients, place increasing pressure on the trader and, therefore, on the communications tool that serves him. An effective turret must provide immediate connections to counterparties, one-button conferencing, desk- or firm-wide intercom, speaker replay, context driven interfaces and easy collaboration with trading desk colleagues who can pick up any ringing line from any turret to make sure a customer is served immediately. Speed is critical and the personal nature of voice communication differentiates one trader from more impersonal service providers.

This is a call to action. Manufacturers have steadily upgraded the internal technology but the user interfaces have lagged behind. In the hectic life of a trading floor, few users have the time to explore functionality. Faced with the scarcity of time and training, the challenge is to design an interface that is easy to understand and fosters intuitive learning.

The future of trading floor communications will continue to build upon the foundations being established today. Preference will most likely vary by region, firm, and type of trading, but experts expect to see a broader demand for innovative technology. Through new solutions and the adoption of ever advancing technologies the communications tool of the future will truly be the traders "cockpit" providing the tools and information, where and when necessary to be successful, connected and efficient.

Lois Liebowitz is Vice President of Marketing at IPC, 212-825-9060. Please visit IPC at www.ipc.com.