Incentives needed to close gaps in industry efficiency

Brokers, custodians and fund managers say a lack of industry-wide incentives is slowing the march towards automation.

The financial markets' top leaders agree that a lack of industry-wide incentives for automation is slowing the march toward greater efficiency in the global securities industry, according to the findings of a report released today by the Tabb Group and sponsored by Omgeo, the leading global provider of post-trade, pre-settlement solutions.

Providing incentives for industry-wide automation is therefore becoming vital, the study found, as firms are increasingly focusing on enhancing their internal technologies, leaving external gaps as the greatest hurdle to overcome. Thus, while many firms have made significant progress, the overall efficiency levels they can achieve are limited by their less automated customers and trading partners.

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