Over 83% of stockbrokers planning to increase IT budgets in 2024-25: ANMI report

Around 83.6 per cent of stockbrokers are readying to summation their IT budgets successful 2024-25, arsenic per the Association of National Exchanges Members of India Western portion (ANMI-WIRC) survey conducted among its 900 members connected Friday, November 22.

This means 8 retired of 10 stockbrokers with 41.8 per cent targeting 20 per cent emergence successful their budget, the study said.

Moreover, the accent connected technologies specified arsenic Artificial Intelligence (AI), algorithmic trading, and blockchain is driving brokers to enlistee skilled professionals successful these fields with 66 per cent of broking firms surveyed intending to summation their IT manpower oregon enlistee caller talent.

The Association of National Exchanges Members of India (ANMI) carried retired the survey to delve deeper into the relation of fiscal exertion successful the banal broking sector.

Harin Mehta, Chairman, ANMI said that the survey offers a heavy dive into the technological improvement of India's banal broking industry. With increasing investments successful AI, automation, and security, the manufacture is poised to present enhanced resilience and inclusivity.

According to the survey, "34.3 per cent of stockbrokers prioritise AI and ML to thrust predictive analytics and personalised trading strategies. While 32.9 per cent stockbrokers absorption connected algorithmic trading, emphasising precision and automation."

However, 7.1 per cent of stockbrokers clasp blockchain for unafraid and transparent operations, a survey said.

In survey, 84.8 per cent of respondents cited information arsenic a captious priority, underscoring the request for robust hazard absorption and cybersecurity strategies. While, 90.9 per cent worth simplicity, emphasizing user-friendly platforms to foster retail capitalist participation.

V. Sundaresan, Executive Director, SEBI said, “The StockTech Survey 2024-25 underscores the transformative imaginable of exertion successful India's superior markets. As stockbrokers progressively prioritise investments successful AI, Blockchain and algorithmic trading.

"SEBI remains committed to fostering an situation of innovation, transparency, and capitalist protection. By embracing emerging technologies alongside robust hazard absorption frameworks, the manufacture tin execute sustainable maturation portion safeguarding the interests of marketplace participants,” helium added.

With agencies inputs