The Heat Goes On
EDITOR'S LETTER
That firms have greatly increased tech budgets to deal with the explosive growth in electronic trading and the seismic shifts in market structure is no surprise, but the numbers in Aite Group's "Capital Markets Spending in 2007: The Back Office Finally Gets Respect" are eye-catching. This year the industry will spend $38.1 billion on IT initiatives, the report says. Tech budgets that increased in 2007 by an average of 21 percent are expected to keep rising through 2010, when IT spending will hit
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