AT&T Helps Australia's Largest Futures Broker Increase Customer Satisfaction
San Antonio, Texas, January 18, 2006
Sydney, Australia, — AT&T announced today that it has implemented a Global Managed Internet Service solution for BrokerOne, Australia's largest futures broker, that helped the company significantly increase customer satisfaction and profitability.
Under a three-year agreement, BrokerOne selected AT&T to provide and manage a dedicated direct Internet connection between its Sydney office and one of its major trading partners in Chicago. Terms of the agreement were not disclosed.
BrokerOne uses its U.S. Internet connection to provide Australian future traders access to offshore futures markets through online software applications. Since financial trading is extremely time-sensitive and involves high-value transactions, it is imperative that BrokerOne's Internet connection is both fast and reliable — with the ability to handle the large spikes in traffic that result from periods of high price fluctuations and high trading volumes on the futures markets.
"We have a network monitoring system, but the best measure of our network performance is customer feedback — traders know if prices are even a quarter of a second delayed," said Zlatko Hristov, Network Manager, BrokerOne. "Our previous Internet link was not as reliable, with major latency issues causing market data delays of up to 30 minutes when under extreme load. This translated into losses of thousands of dollars every second because displayed prices were incorrect and traders could get an incorrect picture of the current market status — which adversely affected not only our profits but our reputation.
"As soon as we implemented the AT&T connection, the difference in network quality was unbelievable," Hristov continued. "Latency in very high-trade periods was reduced to a maximum of 3 to10 seconds. Our clients were happy and our profits improved."
BrokerOne chose AT&T after inviting several Internet service providers to submit trace routes from its Australian offices to Chicago to show exactly where the data travels, and delivery success rates. The new network's architecture ensures that real-time traffic such as pricing and trade data has priority over other less important traffic.
"AT&T's network provided the best connection between Australia and our trading partners in Chicago," said Hristov. "Using AT&T's Global Managed Internet Service we are able to get the service quality and reliability of a dedicated connection at the price of Internet. We are so happy with it that we are now looking at implementing the AT&T Global Managed Internet Service in other office locations around the world."
Jeyan Jeevaratnam, Managing Director of AT&T Australia and New Zealand, said he was pleased to be able to offer BrokerOne a real competitive advantage in terms of superior network performance.
"Over the last four years AT&T has invested around US$10 billion in upgrading the technology and reach of our network globally," he said. "This allows us to offer Australian companies access to an IP-enabled, MPLS-based network that covers more than 90 percent of the world's economies and has unrivalled coverage in the U.S. market."
AT&T Global Managed Internet Service (GMIS) provides dedicated direct, high-speed internet access. This offers customers a globally consistent and reliable service that is ideal for connecting local area networks to the Internet.
About the New AT&T
AT&T Inc. is one of the world's largest telecommunications holding companies and is the largest in the United States. Operating globally under the AT&T brand, AT&T companies are recognized as the leading worldwide providers of IP-based communications services to business and as leading U.S. providers of high-speed DSL Internet, local and long-distance voice, and directory publishing and advertising services. AT&T Inc. holds a 60 percent ownership interest in Cingular Wireless, which is the No. 1 U.S. wireless services provider with more than 52 million wireless customers. Additional information about AT&T Inc. and AT&T products and services is available at www.TheNewATT.com.
BrokerOne is Australia's largest futures broker, specialising in serving all futures traders from the retail trader to the industry professionals. BrokerOne is a market leader in providing electronic access to both domestic and offshore markets through several of the leading trading software packages. It has a 24-hour execution and trading help desk operating from 8:00am Monday to the close of the US markets on Saturday morning. It has established itself as a specialist in relative value trading as well as having a vast knowledge in both fundamental and technical trading. BrokerOne's dynamic history in the broking industry has put it in a position to provide exceptional market intelligence to all our clients. Additional information available at www.brokerone.com.au.