The itpconfig command line tool allows you to configure a trap forwarding proxy to forward Oracle ILOM generated SNMP traps to the host or a configured SNMP trap destination over the Host-to-ILOM Interconnect. This allows SNMP traps to be forwarded to a destination you specify without having to have a network connection to the server's NET MGT port.
The itpconfig command can be used to both setup a trap proxy and to configure the Host-to-ILOM Interconnect between the Oracle ILOM service processor and the host.
Refer to your server documentation to see if your server supports the Host-to-ILOM Interconnect.