Tower: Trading IT Spend Down for 2003
SPECIAL REPORT
NEW YORK--Vendors of trading systems, facing a broker-dealer market that will reduce the number of trading positions and technology spending, will have to make their systems open, flexible, and customizable in order maintain market share, according to a report by market research firm TowerGroup.
North American broker-dealers will spend $675 million on order routing and electronic trading IT in 2003, down 8 percent from 2002, writes Miranda Mizen, TowerGroup analyst. That spending is likely to be
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