Most Read
- Wall Street Eagerly Waiting for Carbon Credit Trading
- The Bigger Questions Post Madoff
- CME Revs Up for Surge in Carbon Credit Trading
- NYSE Divulges More Details About Its New Data Centers
- The Urgency and High Price of New Cost Basis Reporting Law
- Algo Traders Connect To Twitter
- Sentence Puts Madoff into 100-Year-Plus Group
- Goldman Seen Ahead of Morgan Stanley in Recovery
Capital Markets Firms to Spend $41.8 Billion on IT in 2008, Aite Says
Aite Group put out a new, optimistic IT spending report for the capital markets yesterday that, like the Wall Street & Technology IT spending survey that we released in November, predicts an increase in IT spending of just under 10% for 2008, as well as for the ensuing years through 2011. (By contrast, a more conservative Celent report anticipated only a 4% rise in spending this year, to $36.2 billion.)
According to Aite estimates, capital markets firms spent $38.1 billion on IT in 2007 and they'll spend $41.8 billion this year, $45.1 billion in 2009, $50.4 billion in 2010 and $54.9 billion in 2011.
The 13 CIOs Aite surveyed said their top business objective for 2008 IT spending is operational efficiency, followed closely by reducing costs and then compliance. Their top five IT priorities are global trading and settlement (cited by 61%), systems integration (47%), broker workstations (47%), business intelligence solutions (46%) and risk management systems (39%).
Asked about specific applications they plan to invest in, a large majority -- 69% -- said they plan to implement an enterprise data management solution this year. Along similar lines, 62% of respondents said they plan to implement an enterprise reporting solution in 2008. A little more than half (54%) plan to deploy a business intelligence solution. Just under half (46%) say they plan to implement process automation tools. Services-oriented architectures are developing deeper roots -- 46% of respondents plan to implement a SOA this year. But in spite of CEP vendor hype, only 23% anticipate adopting a complex event processing solution this year.
Interestingly, the CIOs Aite surveyed plan to hire business analysts (54% said they would increase staff in this area), project and program managers (46%), developers (46%) and systems administrators (31%) in 2008 -- good news for IT job-seekers.
Posted by Penny Crosman at 03:03 PM
This is a public forum. CMP Media and its affiliates are not responsible for and do not control what is posted herein. CMP Media makes no warranties or guarantees concerning any advice dispensed by its staff members or readers.
Community standards in this comment area do not permit hate language, excessive profanity, or other patently offensive language. Please be aware that all information posted to this comment area becomes the property of CMP Media LLC and may be edited and republished in print or electronic format as outlined in CMP Media's Terms of Service.
Important Note: This comment area is NOT intended for commercial messages or solicitations of business.
Greg MacSweeny Columns
Greg MacSweeneyBondDesk Selects Progress Apama CEP Platform to Deliver Real-Time Analytics & Decision Support
BondDesk will use Progress Apama's CEP platform within the BondDesk ATS.
Wall Street Firms Eye Cloud Computing to Help Counter Budget Challenges
IBM Demonstrates Cloud Computing and Low Latency Messaging at SIFMA 2009
Fidessa LatentZero Extends Asset Class Coverage For Derivatives
Larry Tabb Columns
Larry TabbThe Odds of Exchange Migration
Though it may seem like a quick fix, migrating OTC products to exchanges is a process frau...
OTC, Central Clearing or Exchange-Traded: Choosing the Right Path
Divining the Future of Professional Media in a Web 2.0 World
CHECK THIS OUTMake your organization more efficient and customer focused. Visit the Transaction Lifecycle Management Site today! Featured White Paper |
EventsLive Events:Advanced Trading's Buy-Side Trading Summit November 15 - 17, 2009 |
|
Marketplace |
Career CenterReady to take that job and shove it?
|
Most Recent Job Posts:
* Kforce seeking Collector in Getzville, NY
* KForce seeking Health Information Management Directors in San Francisco, CA * KForce seeking Health Information Management Directors in New York, NY * Apollo College seeking Program Director in Albuquerque, NM * Amalgamated Bank seeking Chief Information Officer in New York, NY For more tech jobs in the industry, visit Wall Street & Technology's Career Portal. |
























