IT spending set to fall below $1bn
Hedge fund technology spending will drop 40%, from $1.45 billion in 2008 to $882 million through 2009. This is one of the major forecasts made by the Tabb Group in its latest IT report*. The group surveyed 61 US hedge fund managers in the first half of 2008, examining funds' trading and back-office technology requirements and how they will square those needs with difficult market conditions and smaller budgets.
Smaller IT budgets do not mitigate managers' needs for greater trading and
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