Keeping track of deadlines, cost of operational updates, adapting technology and preparing for regulations are all named as extremely challenging in the most recent ISITC member survey SIBOS, Dubai ? September 16, 2013 ? ISITC (The International Securities Association for Institutional Trade Communication), the industry trade group focused on standards in transaction processing and related communications, today announced poll results addressing the most pressing challenges that regulatory change present to the financial industry. Findings reveal mixed feelings regarding the benefits that increased regulatory oversight will yield. The 2013 survey polled ISITC member firms including leading broker/dealers, investment managers, custodians and associate constituencies across North America. Various firms spotlight keeping track of deadlines, the cost of operational updates, adapting technology and preparing for regulation as extremely challenging for the financial industry. Detailed survey results show that:
?Each year ISITC formally checks in with its North American members to understand the most significant challenges facing financial firms. The exercise provides a strong overview of the issues impacting the financial industry today. As the industry?s complexity evolves, the value of forums such as ISITC is clear. Participation creates union and understanding,? states Jan E. Snitzer, Chair of ISITC. ?Challenges in the market are sure to persist, if not increase. ISITC offers its members the opportunity to engage in an ongoing discourse on pressing issues, including those addressed in this year?s poll, and to take part in shaping our industry?s future. Through collaboration, ISITC members strive to reduce inefficiencies and lower risk while developing and promoting standards and market practices for the global securities industry overall.?