January 20, 2011 – Fund managers are sometimes cited by broker-dealers, custodian banks, prime brokers and other service providers for being the last to embrace technology and automated procedures.

That's because buy side firms really didn’t have to worry about whether or not they were operationally efficient. They could leverage the software their sell-side counterparts offered them such as execution management systems in combination with some web-based reporting. Investors and regulators seemed to be okay with that in large part because fund managers were operating in a bull market. They could afford to make a mistake or two.

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