March 13, 2012 – More than two-thirds of investment managers, broker/dealers, and custodians expect to increase their spending on technology in the next two years.
All told, 71% of members surveyed by the International Securities Association for Institutional Trade Communication said information technology spending at their firms will increase over the next two years.
The survey did not provide any estimate of the amount or percentage of growth of the expected increase in spending.
ISITC is a trade group focused on standards in transaction processing and related communications. Its annual conference begins March 25 in Boston.
The survey also found:
- 68 percent plan to improve infrastructure and processes.
- 90 percent of respondents stated that the industry has made some progress towards improving standards by adopting best practice
- 40 percent stated that adhering to new regulations is their highest priority for 2012.
- 45 percent agreed that regulation will have the greatest impact on operational risk management.
- 43 percent believe that adhering to these new regulations will have the greatest impact on their firms’ overall operations as well as on derivatives clearing (29%).
“Our annual member survey has revealed that although we have emerged from the financial crisis, the future of our industry is still unclear,” comments Jan E. Snitzer, Chair of ISITC. “What is clear is that although progress has been made in improving our industry’s infrastructure and processes, there is still much room for us to improve.”
This story originally appeared at Securities Technology Monitor.
Register or login for access to this item and much more
All Information Management content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access