More than half the information technology executives admit they don’t fully understand the needs of traders.
That’s according to a recent survey conducted by turret vendor IPC Systems. Despite the fact that the two groups meet regularly to discuss new technology, only 48 percent of the IT execs canvassed said they completely understood traders’ needs.
At the same time, only 45 percent of the traders said their IT department completely understood their needs. In other words, both groups agreed there was a problem.
The survey was conducted at TradeTech London in March. Nearly 60 percent of the IT respondents were management-level executives. The trading executives came from both the buyside and the sellside, more than half worked in equities.
Behind the inability of some IT execs to fully address traders’ needs is the fact that they didn’t fully understand the details of a trader’s day-to-day job. More than half of the IT execs polled said they did not understand the traders’ workflow.
Despite the findings, most trading executives gave their IT departments high marks for their service. Simon Jones, a director of product marketing at IPC, told Traders Magazine that the lack of understanding by IT execs may be more perception than reality, but “there is clearly room for improvement.”
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