IT budgets: back on the chopping block?

Managers gradually loosened their technology budgets over the next several months, as vendors, consultants, and counterparties preached the gospel of STP. A slew of ensuing events - the hedge fund boom, the rise of alternative execution venues, Reg NMS in the US and Mifid in Europe among them - subsequently drove greater buy-side demand for front-, middle- and back-office technologies, or for counterparties who could provide those systems. Of course, improving financial market conditions als