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Tower Group, Inc. (TWGP) Advises Brokerage Firms to Target IT Spending to Drive Revenue

Tower Group (TWGP) is a research and advisory services firm that focuses exclusively on the global financial services industry. The company is a wholly owned subsidiary of MasterCard Worldwide, and operates as a separate business entity with complete editorial independence. The company’s analysts and specialized advisors cover the business and technological issues impacting the entire financial services sector.

New research from Tower Group asserts that targeted IT spending by brokerage firms can drive revenue in new asset classes and geographies, and gain order flow during periods of market volatility like the current one. Key opportunities for growth in today’s challenging environment require investment in global 21st century trading infrastructure. Two examples of opportunities that require strategic IT investment are the rapid rise of the carbon offset trading market, and the growth of global securities industry revenue from Brazil, Russia, India, China and Korea.

Tower Group is reminding brokerages that their clients will continue to seek ways to take advantage of market conditions, and will look to the brokers either to supply additional tools or at least keep up with order flow. The company believes brokerages should allocate their IT budgets in three primary areas: market data content and infrastructure, trading tools, and risk management. Focusing on these areas will create an opportunity for institutions to increase transaction volumes across businesses.

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