IDC estimates that financial services firms worldwide will allocate more than $430 billion to IT spending in 2014. But as firms weigh how much to budget for data, cloud computing and other hot technology next year, some of these technologies are increasingly becoming part of the budget process in ways other than as line items.
U.S. stock and option exchange company SROs have come to a general agreement on how to enhance the integrity of the securities markets. The idea is to reduce the sort of glitches that can easily infect the entire market system, examples of which have been all too plentiful as of late.
For today's financial firms, information security is a battle fought on many fronts. On one hand, firms are reaching out to deliver data on tablets and mobile phone and to tap services on private clouds. At the same time, internally firms are integrating disparate silos of information and collecting "big data" to create deeper and more detailed views of the enterprise.
On Tuesday, the country's largest stock exchanges announced that they have agreed to a plan to strengthen markets, in response to regulators' demands for changes that would stem the tide of market disruptions. Details were few but the news was welcome. On the same day, one of the newest US stock trading venues announced it was taking its own steps to avoid trading disruptions.
The old adage that nothing is certain but death and taxes has been attributed to Benjamin Franklin. If Franklin worked in today's financial industry, he might modify that a bit.
The Dodd-Frank Wall Street Reform and Consumer Protection Act has imposed many new requirements on Wall Street. One of those requirements affects how firms save and store certain oral communications, including calls and texts from mobile devices.The technology companies that store and save oral recordings have very different ways or reminding Wall Street of these new requirements.