More firms expect technology spending increase in 2014

Overhauling old systems is still the biggest driver for anticipated technology spending increases, but prudential and market regulations are growing in importance

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The twin burdens of derivatives market reform and new prudential rules are behind a jump in the number of firms expecting to spend more on technology during 2014 – the key finding of the survey that accompanied this year’s Risk technology rankings. Nearly two-thirds of the 1,380 respondents to this year’s survey, 64.7%, say they plan to increase their IT spend next year, up from 57.7% in last year’s poll.

For 30.7% of those surveyed – the vast majority of them banks and brokerages – spending is

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