by Paul Clarke, eFinancial Careers

Complex event processing (CEP) is clearly a relatively niche area of financial technology, but one that is still growing in the face of difficult market conditions. And, shock-horror, there’s actually a fair bit of hiring going on in this sector.

CEP is intelligent software that is essentially the next step in algorithmic trading – it sifts through market events looking for possible patterns and acts on them. A recent study into banks’ IT spending patterns by consultancy Aite Group, suggested that while  budgets as a whole were likely to shrink by 5%, CEP investment remains on an upward trajectory. 36% of respondents to the survey intended to spend more on CEP this year than in 2008.

Adam Honore, senior analyst at Aite and author of the report, says: “We’re still bullish on the potential for CEP across financial services. Once one group successfully deploys a CEP application,  word spreads and more technology groups look at CEP to help solve their issues.” Report