“This means that other costs inside investment firms have been rising much faster than the IT budget. You could say that investment firms are getting more out of their IT,” Neill says. The survey found 2009’s reduced project spend would be focussed on data management, front office systems, infrastructure and dealing with legacy derivatives on the books. Neill says that system infrastructure in fact leapfrogged front office systems and derivatives processing to rise from third to first in terms of project focus in the latest survey.

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