Thursday 12th December 2019 | Login
Mobile Device Policies on Trading Floors & MIFID II Member Survey

Mobile Device Policies on Trading Floors & MIFID II Member Survey

Before our round table ‘Mobile Device Policies on Trading Floors & MIFID II’, The Broker Club reached out to member firms and asked questions about their mobile phone policies. All the firms who were invited to participate in the research are scheduled to attend the round table discussion, so have expressed interest in the topic.  All questions were answered by Heads of Compliance or senior compliance officers.   Question 1: Is your organisation seeing an increased demand from clients to communicate via IM or social channels (e.g. WhatsApp)?

  • 100% of members answered yes
Question 1a: Are you responding to this demand?   
  • 40% of members answered yes
Question 2: Does your organisation have a BYOD policy?
  • 60% of members answered yes
Question 2a: If not, do you expect this to change? 
  • 50% of members without a BYOD policy answered yes
Question 3: If your organisation does support BYOD today, do you handle the need to split personal and business communications?
  • 100% of members with a BYOD policy answered yes
Question 3a: Do you ensure all business-related communications are recorded?
  • 100% of members with a BYOD policy answered yes
Question 4: Are there any advantages of having a BYOD policy?
  • 80% of members answered no
  Comments “I don’t see any advantage of BYOD.  The firm cannot control the content upon the device.” “Impossible to check, can’t be recorded, but we have no choice but to allow.  Even if banning on the trading floor, people can be out of the building in seconds and using the phone there.” “BYOD tracks client communications but doesn’t stop personnel using their own devices when away from the office.”