Expenditure on trading applications and telecoms is growing at 10% per annum in the US Tri-State region with no sign of an imminent slowdown, according to the latest report from Kimsey Consulting.
Total spend on trading technology in the New York Tri-State region is now five per cent higher than 12 months ago, running at an estimated USD$5.9 billion says the Kimsey report.
The upward trend is likely to continue as an estimated one-in-five dealing rooms enter a technology refit/upgrade stage over the course of the next 18 months, says Kimsey.
Firms interviewed in the 2007 study had a total of 20,000 trading positions, and 6,000 off-floor positions.
Amongst the 60+ survey questions, respondents are asked to score their satisfaction with vendor applications. GL Trade was ranked top overall for market data provisioning, beating out Thomson Financial which ran out tops against rivals Reuters and Bloomberg. The best newswire service was judged to be Dow Jones Newswires. BondDesk took the honours for top trading platform, and Trading Technologies ranked highest for trade capture. IPC was judged the pre-eminent turret supplier.
The report also found growing confidence in the application of voice over IP technology. Almost three quarters of firms quizzed now regard VoIP as a suitable technology for the trading floor, compared to around two-thirds in 2006.