PBX systems are typically implemented as an organizations telephony system. Turrets typically reside off a seperate back end system designed to support Large amounts of Lines, speed-dials, PLAR's and Hoot-n-Holler. There is a company called IP blue Software that is developing a Turret / Call Coverage endpoint that supports both tradtional PBX features and Turret Specific funtionality leveraged off Cisco's Unified Communications platform. This solution has be installed and being proven in real world trading floors. IP blue will also spend the time to customize and taylor their solutions to the specific needs of customers. This type of approach enables the flexiblity of both a trad. telephone and Turret Solution, with the ability of integration with real-time collaboration applications utilizing one back-end VoIP telephony system that helps reduce the challanges of support and overhead costs.
The basic difference between the PBX & turrets is the PBX is designed to have many users share a limited number of outside lines, while turrets are the opposite - individual users requiring large numbers of outside lines. The dealerboards give traders quick one-touch access to dozens or hundreds of lines on their desktop, and they're capable of providing speakers, multiple handsets, and other 'gotta close this right NOW and don't get in my way!!' features.
If you have a smaller, relatively sedate trading team, you can probably get by using PBX or key system features - one button per line (square key layout), and use speed dials if traders can wait for them to dial out. If it's a fast paced team, the turrets will keep them happier. At a cost.
You can do PBX sets for about $1K / station, but turrets can easily go for $15K per seat. But the cost is meaningless compared to one good trade, right?
Good luck!
If you do not need many hoot lines check out the new release of Mitel's 3300ICP. They now have a new trader turret that is IP based. I personally would of liked to see a seperate speaker/mic that integrates to the set but I guess in due time.
A trading turret system has been designed with speed of connection in mind. With ARD Automatic Ring Down Technology the connection is immediate. In a fast moving market that might be very important to you. The time it takes for any PBX to dial a 10 digit phone number is far greater then an ARD takes to connect. The turret also offers access to many more lines then the standard PBX. Most PBX phones are 24 btn maybe 32 buttons. The turret system employees a system where you have view of 40 and you can page forward to the next group of 40 lines on Page 2 giving you access to 80 or 100 lines per position.
Hope this helped. Let me know if you have any further questions.
I just trashe dmy Turret for a PBX. If you gowith Nortel (and I'm sure others as well) all you need ot do to have ARDs is to install COT cards. I like having only one system to maintain (with the PBX you can use it for admin and other things) and makning changes is a LOT easier then having to reset all the phones, etc.
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