Between 2011 and 2016, IT spending in North America will increase at a compound annual growth rate of 7 percent, with U.S. investment reaching $14.348 billion, according to Ovum forecasts.
On August 1, the dormant system started multiplying stock trades by 1,000, according to Bloomberg. Knight’s staff looked through eight sets of software before determining what happened, it is claimed.
The service, which is established in the US, includes business ‘health checks’, presentations from Pershing executives and external speakers, group discussions and information on new Pershing services.
Banks are using computer systems that are “unfit for purpose” and as a result have little idea what is going on inside their own businesses, according to a new in-depth report on the technological problems facing the industry.
Knight Capital is fighting for survival after a $440m (£283.6m) trading loss caused by a software glitch wiped out much of its capital, forcing Knight to seek new funding as its shares plunged as much as 80pc in two days.
DST Global Solutions will be showcasing its corporate actions automation solution, powered by XSP’s v5 platform at Mission 2012, the Financial Services Council’s annual conference held on the Gold Coast from August 1-3, 2012.