Institutional investors will spend a projected $1.1 billion on research technology globally by 2010, up from $586 million in 2007, according to a report written by Dushyant Shahrawat, research director in TowerGroupâ€™s investment management practice, who predicted a 22% compound annual growth rate in spending in that area. The U.S. will account for the lionâ€™s share of the increase, with spending jumping to $692 million in 2010 from $372 million in 2007.
â€œBuy-side research has become a complicated process that aggregates internal analysis, broker research, independent research, outsourced analysis and the use of other research tools,â€ the report said. Brokerage firms are expected to further automate their research services to lower cost and improve distribution of both proprietary and third-party research.
Money:Tech: Global FinTech Spending to See Surge
By October 18, 2007 · ··