The latest TowerGroup research predicts that global IT spending by the world's major exchanges, which reached $2.72 billion in 2006, will grow a modest three per cent through to 2009, despite the massive changes that the market is experiencing.
TowerGroup says its research shows that expenditure on IT by exchanges will grow by four per cent in 2007 and then slow to 2-3% in the following two years through to 2009.
The study predicts that IT spending by US exchanges will increase at the slowest pace, growing from $1.32bn in 2007 to $1.19bn in 2009. IT spending by European exchanges will grow moderately from $1.041bn in 2007 to $1.104bn in 2009. Asia will see the fastest growth in tech spending, up from $373m in 2007 to $472m in 2009.
The slowdown in spending will be enforced by downward pressure on IT costs as CIOs are forced to better align their technology strategies with corporate goals in a competitive, consolidating marketplace, says TowerGroup.