BT signs with Hitachi to grow turret business in Japan

BT Japan Corporation (BT) today announced that it has signed an original equipment manufacturer (OEM) agreement with Hitachi Communication Technologies, Ltd. (Hitachi Com), a wholly-owned subsidiary of Hitachi, Ltd. that manufactures, sells and supports mission-critical trading systems in Japan. As a part of the agreement, Hitachi Com will act as an OEM for BT’s trading systems portfolio in Japan, that includes BT’s trading systems equipment and its applications, as designed by BT. The system portfolio of products to be sold by Hitachi will be rebranded and customised under the Hitachi logo and will be sold beginning in July 2009.

Andy Nicholson, VP - Global Banking and Financial Markets, BT said: “Hitachi Com is one of the top turret suppliers in the region. By signing an OEM agreement with Hitachi Com, BT gains a more competitive position in the fourth-largest market in the world. This agreement with Hitachi Com gives us access to a significant customer base for turrets in Japan and opens the door for additional BT products and services to be sold in the country.”

This OEM agreement builds upon an already-strong relationship between BT and Hitachi Com. This agreement, which will be beneficial to BT, Hitachi Com, and customers in Japan, will see BT build on Hitachi Com’s long-established and highly reliable technology offering, knowledge of the Japanese market and excellence in service delivery, and Hitachi Com will take advantage of the reputation of BT’s products in meeting the requirements of banks and securities houses in Japan. This cooperation will help BT and Hitachi Com penetrate the Japanese market further and jointly plan future-generation products and services.

Mr. Takeshi Masuda, VP and Director, President of Corporate Network Systems Division, Hitachi Communication Technologies, Ltd. said: “This agreement with BT gives us the opportunity to continue to deliver high quality trading room technology to most of the banks and securities houses in Japan. Working with BT, we will deliver one of the best turret systems available in the market today.”

BT’s turrets are available in both push-button and touch-screen versions and have the unique ability to communicate via Voice over Internet Protocol (VoIP), traditional TDM connectivity or both at the same time. BT also offers a soft version of its turret called “ITS Anywhere”, which is available for IP phones, PCs via the Internet and mobile phones and Blackberrys.

Also, Sir Stephen Gomersall, Hitachi’s Chief Executive for Europe, said: “I am delighted that the introduction of these excellent products from BT will help to strengthen Hitachi Com’s product portfolio. I believe this agreement will enhance both companies, and I look forward to an exciting and innovative OEM relationship between the two organizations.”