US securities industry to sustain high BCP expenditure

NEW YORK -- Financial services firms will continue spending a limitless amount of money on business continuity planning (BCP), regardless of its return on investments (ROI), according to industry officials.

TowerGroup, a Massachusetts-based financial services research firm, estimates that BCP spending in the US securities industry will remain between $2.5 billion and $3 billion per year between 2004 and 2007. Most of this money is being spent on external BCP providers.

"Of the $3 billion to be spent on BCP in 2004, about 67% was spent on information technology; 23% on facilities and 8% on people, while 2% will be spent on the other aspects. Despite the technological advancement, there is no silver

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