21 September 2014

Isitc members to boost IT spending

12 March 2012  |  4304 views  |  0 cash

Financial industry association Isitc says that nearly two thirds of its members plan to increase their information technology spending over the next two years as regulatory compliance continues to dominate the agenda.

A poll of Isitc (International Securities Association for Institutional Trade Communication) members revels that 40% think adhering to new regulations is their highest priority for 2012.

Meanwhile, 45% agree that regulation will have the greatest impact on operational risk management and 43% believe adhering to these new rules will have the greatest impact on their overall operations.

Despite the challenges, around two thirds of respondents think that the financial crisis has prompted the industry to improve infrastructure and processes. Nearly 90% think that some progress towards improving standards by adopting best practice has been made.

However, more generally, the economic outlook is still gloomy, with 45% suspecting that a real recovery is not imminent and instead we will continue to see slow growth. Uncertainty reigns, with 82% of respondents stating that the vision for the future of the industry is "cloudy" and that it's unclear as to what the market will look like in 2020.

Jan Snitzer, chair, Isitc, says: "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. Isitc's mission is to make the industry less 'cloudy' and more 'clear' through developing industry best practices and standards."

Comments: (0)

Comment on this story (membership required)
Log in to receive notifications when someone posts a comment

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board, sign up now.

Related blogs

Create a blog about this story (membership required)

Related stories

23 January, 2012
06 January, 2012
23 May, 2011
10 March, 2009

Related company news

 

Featured job

Competitive (base, bonus, benefits)
Boston, MA (USA)

Find your next job