Kimsey: NY Area IT Spend to Drop

SPECIAL REPORT

NEW YORK--Spending on trading technology by securities firms in New York, New Jersey and Connecticut is expected to drop by 25 percent to $5.3 billion between now and April 2004, according to a recent survey of sell-side firms and their IT spending habits.

This represents a drop from around $7 billion in spending last year by firms in the tri-state area, say officials of the UK-based market research and consultancy company Kimsey Consulting.

The survey also finds that 50 percent of respondents

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