ANMI’s unveils the 2nd StockTech Survey on technology trends: An overwhelming 92.6% of stock brokers have increased the expenditure on technology during the pandemic

Mumbai, 17 Dec 2021: Association of National Exchange Members of India (ANMI), India’s largest grouping of over 900 exchange brokers and members, today released the 2^nd  StockTech Survey Report on technology trends and challenges in the country’s broking industry. The report is a first-of-its-kind survey since the onset of the Covid-19 pandemic. The StockTech Survey report was unveiled at ANMI’s StockTech 2021.

Mr.Mahesh Desai, Chairman, WIRC, ANMI said “The 21st century capital market stakeholders and investors are heavily dependent on technology.  The last decade has thrown up major global challenges which require a concerted response from our industry for effective solution. Latest technology adoption is the answer to our business worries. We have been fortunate to have the support and guidance of technology experts and capital market participants to make StockTech 2021 a possibility in the given pandemic-climate. It has been and always will be ANMI’s endeavour to provide the stock broking industry the roadmap to achieve sustainable growth”.

The survey findings show that an overwhelming 92.6% of stock brokers have increased the expenditure on technology during the pandemic. As many as 41% of stock brokers have increased their technological expenses by more than 20% in the past two years. Moreover, 39% of stock brokers bump up the budget to meet technological requirements on a year-on-year basis compared with 26.2% of brokers in 2018. Approximately 61% of the stock broking organisations today increase the budget for technology ‘as and when required’ against 71.4% in 2018. 

As much as 65.8% of the boardroom meetings held during the pandemic discussed technology as the main header. In comparison, technology was the main driving point for 48.8% of leadership meetings during 2018. About 80.4% of respondents said they have not faced any problems related to technologies used in the past 2 years, while 19.5% said they had faced issues. As per analysis Back Office software is found to be invested in the most (78%) by stock brokers, followed by the front office at (73.17%) and Algos (68.29%).

The StockTech annual event is India’s largest gathering of the entire financial market technology ecosystem. It was attended by 31 top fin-tech exhibitors, vendors, Stock brokers, and most of the major industry stakeholders and influencers.

This symposium provides an opportunity for leading technology players operating in this segment to showcase their innovations and global expertise in meeting the requirements of India’s broking industry.