What is phone turret?

A phone turret (also known as a phone trading turret or dealer board) is a specialized telephony system used by financial trading firms, banks, and stock exchanges for voice communication between traders, brokers, and clients. It typically consists of a group of telephones, a number of specialized features, and a PC running software that coordinates all the functions.

A phone turret offers multiple benefits to financial traders, including improved voice quality, quick call routing, group collaboration, and secure communications. It allows traders to place multiple calls simultaneously and maintain voice communication with multiple parties on a single call. The phone turret is designed with specialized features such as trading floor intercoms, speaker systems, and speed dials that help traders work efficiently.

In addition, phone turrets are usually equipped with sophisticated call recording, monitoring, and management tools to ensure compliance with financial regulations and to improve customer service. They can also integrate with other trading tools such as order management systems and instant messaging platforms.

Overall, a phone turret is an essential tool for financial trading firms, enabling fast and secure voice communication and collaboration among traders, brokers, and clients.