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Bank of America Looking to Whittle 50 Trading Platforms Down to One

By 25 Mar, 2011June 6th, 2017News

eFinancial Careers

Paul Clarke, eFinancial Careers, looks at how some of the leading investment banks are reducing the amount of trading platforms they use in order to streamline their technology. As banks face increasing pressures to integrate their complex trading systems due to reported lower trading volumes and regulatory pressure, this article examines the changes that have to be made to achieve operational efficiency, and where these will impact the most. Once of the main outcomes to a reduced complexity to the technology infrastructure is that banks will eventually require less IT staff. GreySpark joins the debate, maintaining that investment banks are indeed looking to consolidate trading platforms and those that don’t act soon will be left behind. The downside of this is that there will be less IT support around, meaning that banks will have a weakened ability to respond to problems in multiple business lines. On the other hand, GreySpark is sure that jobs will be created elsewhere due to the increase in large scale technology integration projects.

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