Technology was the saviour of businesses across sectors during Pandemic, an all India study conducted by Association of National Exchanges Members of India (ANMI) has revealed.
This first-of-its-kind StockTech report was released recently. The survey was conducted for 900 ANMI members who are part of the stock broking/ capital market community, says a release here.
The survey has insightful information on technological trends in the stock broking industry and to what extent market players upped their technology during the pandemic, Mahesh Desai, Chairman, WIRC, ANMI, said.
Key findings :
The survey found that 85.36% of stock brokers today are actively investing in technology.
An overwhelming 92.6% of stock brokers have increased the expenditure on technology during the pandemic, it further revealed.
As many as 41% of stock brokers have increased their technological expenses by more than 20% in the past two years, the study revealed.
Moreover, 39% of stock brokers bumped up the budget to meet technological requirements on a year-on-year basis while 61% of the stock brokers increased it ‘as and when required,’ the survey noted.
As much as 65.8% of the boardroom meetings held during the pandemic discussed technology as the main driving issue.
Furthermore about 80.4% of respondents said they have not faced any major glitches related to technologies used in the past 2 years.
As per the analysis, back office software is found to be invested in the most (78%) by stock brokers, followed by the front office at (73.17%) and Algos (68.29%)
The StockTech Survey report was unveiled by G P Garg, ED, SEBI, Ashish Kumar Chauhan, MD & CEO, BSE and Kamlesh Shroff, Convenor, StockTech 2021 & Director, National Council, ANMI, Mahesh Desai, Chairman, WIRC, ANMI, Mangal Prabhat Lodha, MLA, State of Maharashtra, Padmaja Chunduru, MD & CEO,NSDL, Nehal Vora, MD & CEO, CSDL, K K Maheshwari, President, ANMI and Kamlesh Shah, Alternate President, ANMI.
