The US buy side has traditionally spent relatively little on IT -- certainly when compared with the sell side. Asset managers have benefited from soft-dollar arrangements, by which sell-side firms provide substantial portions of the technology required by the buy side. At the same time, the buy side has not needed the same level of technology support as the sell side.

Boston-based research and consulting firm Celent Communications projects IT spending of $4.1 billion by investment managers i

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