Special Report

Sifma Technology Conference

The worst of the world's banking, securities and credit crises may be past. But improving operations and saving money is still every bit as important as making money on smart trading strategies.

Contents

Seven-Step Survival Guide: How to Thrive in Tough Times

Securities Industry News takes a look at seven steps you can take to cut expenses, boost productivity and innovate with technology.

STEP ONE: The 70 Percent Solution: Cut Costs Upfront and As You Go, With Cloud Computing

Nearly half of the 350 Wall Street I.T. professionals responding to questions posed by Sifma and IBM said they believed that 'cloud' computing is the technology with the greatest potential to force business change in an era of budget restrictions and skill shortages.

STEP TWO: Hands Off: Automating Reconciliation Can Dramatically Lower Costs

Automating the reconciliation process can dramatically lower costs, according to Richard Chapman, director of pre-sales for North America at SunGard Data Systems.

STEP THREE: Spend Green, Go Green, Save Green

Financial firms can save 99 percent of the heating, air conditioning and power consumption costs involved in sending and receiving market data messages, according to messaging middleware provider Tervela.

STEP FOUR: Time is Money. Make Millions From Every Millisecond

Despite budgetary constraints, there's a payoff in spending on new technologies to increase the speed of exchanging data and executing transactions.

STEP FIVE: Co-locate. Even With Your Competitor.

This month, the New York Stock Exchange will begin talking to potential occupants of its new data center, scheduled to open in New Jersey next year.

STEP SIX: Flatten Communications Costs With Cable Connections

Some Wall Street firms are cutting costs by taking their data traffic from companies that traditionally supplied communication services to companies that traditionally supplied television services.

STEP SEVEN: Use Machines To Make Extreme Profits From Extreme Frequency

High frequency trading firms now account for more than 60% of all US equity trades, according to research from Boston advisory firm Aite Group.