Gerry Murphy
president, SunGard’s
Brokerage and
Clearance business
Our business continues to change rapidly, just as it has for my 20+ years in this industry. I think my fellow brokerage & clearance blog authors and the readers here would all agree. However, the past two years have given us change in a different way. We’re talking about overnight, precedent-setting change.
Change like this means many things – new risks, regulations, requirements – and a lot of new questions regarding what to do next. But today, I’d like to share one specific idea: with precedent-setting change, the industry needs precedent-setting technology solutions that can help companies operate more efficiently.
This is not the time to stick to the status quo. The industry has been completely shaken up, and I believe we are going to continue feeling the ripple effects for a long time to come. Financial technology leaders should recognize that we all need to adapt and manage in a new environment where sweeping change must be the expectation. It’s more important than ever for software providers and IT vendors to be able to turn on a dime and invent or reinvent technologies that solve critical industry problems, existing or new.
I believe the organizations that will come out on top when the shake-up shakes out are the organizations that recognize this and can react nimbly. No one can afford to wait anymore. I say 2010 is about anticipating continual change and staying at least one step ahead.
How are you responding to the reverberations of the changes affecting our industry? Let’s start a conversation in the comments.