Financial Services Industry
Industry: Email Alert RSS FeedThe stake grows to $8bn for T+1.
Financial News, May, 2002
Byline: Richard Greensted
Unreconstructed socialists have always maintained that financial markets are nothing more than glorified casinos. If that is the case - and the performance of some trading rooms suggests that they would better employed on the blackjack table - then a new way to gamble your money has just been unveiled. How would you like to bet your IT budget on the likelihood of T 1 ever being anything other than a nice PowerPoint presentation? The combined stake currently stands at a chunky $8bn ([euro]8.8bn), according to the chief croupier, the Securities Industry Association (SIA). That is the figure proposed some two years ago in the original business case put forward for the move to T 1 in the US. Broker/dealers could roll the dice for $5.4bn,...
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