UK Financial Trading Technology Market Enjoys Increase in Demand
UK-based financial trading institutions can expect to experience a 10 per cent increase in trading and related technology investment this year, according to a survey by Kimsey Consulting. Although the study is predicting the first general increase in demand for several years, the UK market is still an estimated 30 per cent lower in value in comparison to the late 1990’s. The study showed that trading IT spend is shifting toward annualised revenue accounting, reflecting the importance of cost control as trading IT management work to maintain up-to-date systems. There is, however, growing evidence that trading technology buyers expect more from their IT investment, maintaining the pressure on technology vendors and service providers. The survey indicated that Reuters will continue to be the major provider of market information, with approximately 40 per cent market share and an approximate 50 per cent share of all information service budgets. The number two player is Bloomberg, with a resurgent Moneyline/Telerate in third place and Thomson Financial in fourth.