More consolidation of bank trading platforms to come, says Wall St Systems
Banks are increasingly allocating technology budget to consolidating platforms to increase the efficiency of cash and foreign exchange trading, according to bank sources and technology vendors.
Such changes are understood to be under consideration and implementation at several institutions, and JP Morgan revealed earlier this year it started consolidation two years ago. The bank will reduce the number of platforms it operates from 10 to five by 2014, in a process that will cost up to $500
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