Finance Breaking news Market data spending expected to see marginal decline in 2021 last financial news
Breaking-Finance.Com - Global spending on financial market data is expected to decline marginally in 2021, with 33.7% of respondents in Burton-Taylor’s Financial Market Data/Analysis 2020 Global Demand Survey expecting spending to decline by more than 2%, with 8.5% of respondents expecting total spending to decline by 6% or more according to a new study published today by Burton-Taylor International Consulting, part of...
Breaking-Finance.Com - User segments expected to see the largest declines included salespeople and corporate C-Suite users, with 15% and 13% in each category expecting spending declines in excess of 6%, respectively.Despite the broad economic impact of COVID-19 shutdowns, the financial industry remains uncertain about the influence on market data spending, with just over half of respondents (54%) expecting COVID-19 to have a significant influence on market data spending in 2021 while 46% expect little to no influence from the virus on spending activity.A smaller percentage of our respondents expect market data spending to increase in 2021, with 23.0% expecting spending to increase by 2% or more, and 5.4% expecting spending to increase by 6% or more.
. The growth expectations represent a continuation of recent trends, with the segment seeing a 10% in spending in 2019.“Although market data spending is expected to decline marginally in 2021, there are a number of segments where our respondents see outsized growth. Demand for data that can help decipher the impact of Covid- 19 on economic prospects remains in high demand, as are data sources that can support corporate credit evaluations,” says Robert Iati, Director at Burton-Taylor. “The survey results also reinforce the importance of risk management processes in the new distributed work environment, as monitoring risk parameters from staff working at home raises significant compliance concerns.”
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