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SIFMA 2008: The buzz from New York
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The Securities Industry and Financial Markets Association (SIFMA) held its annual Technology Management Conference & Exhibit in New York on 10-12 June this year, drawing a crowd of over 7,000 delegates. The theme of the event was “Managing IT in Financial Services During the Credit Crisis” and Hotwire’s Banking & Finance practice was there to hear the latest trends and challenges facing the industry.
Hotwire found that in addition to the inevitable discussions on cost control and IT efficiencies there was a notable buzz around the changing capital markets landscape. With mergers and acquisitions across major exchanges and the advent of multilateral trading facilities such as Chi-X and Turquoise, the topics of increased competition, smart order routing and dark pool liquidity came high on the agenda.
As both the buy and sell sides grapple with the resulting issues around best execution and client service, conversations on the exhibit floor centred on technology as the key to addressing the challenge. Time will reveal the full impact, but the likes of order and execution management systems, market data feeds and connectivity packages are set to play a pivotal role in achieving real competitive advantage.
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