Tech Spending Hit by Subprime Mess

by Jeffrey Schwartz, RedmondDeveloper, June 20th 2008.

The subprime meltdown that has roiled the financial markets since last fall will negatively impact the amount large investment houses, banks and brokerages will spend on IT overall — and on software development projects in particular — in the coming years.That was the assessment at last week’s annual Securities Industry and Financial Markets Association (SIFMA) conference in New York, which drew more than 7,000 IT professionals and developers….

According to Tabb, spending on development is being refocused on projects that can help firms improve their margins and, not surprisingly, do a better job at risk management. As such, investments in capabilities such as algorithmic trading and complex event processing (CEP) are likely to be pivotal in some firms’ efforts to become more competitive and improve their efforts at mitigating risks. Article.