by Suman Gupta
83.6% Stockbrokers plan to Increase IT Budgets to leverage Emerging Technologies
● Survey reveals 83.6% of stockbrokers plan increased IT budgets, with 41.8% targeting a 20% rise.
● AI, algorithmic trading, and blockchain top the list of technological priorities
● StockTech 2024-25, themed around “Safety, Simplicity, and Scalability,” brought together leading fintech players and brokers.
Mumbai, November 22, 2024: The Association of National Exchanges Members of India Western region (ANMI WIRC), India’s largest pan-India body of over 900 exchange brokers and members, today launched its StockTech Survey 2024-25, highlighting the latest trends and challenges in the stockbroking sector. The findings were unveiled at the flagship StockTech 2024-25 event held at NESCO, Mumbai.
The survey reveals that a staggering 83.6% of stockbrokers plan to increase their IT budgets in 2024-25, with 41.8% targeting a 20% rise. The focus remains on deploying cutting-edge technologies such as Artificial Intelligence (AI), algorithmic trading, and blockchain to enhance efficiency, scalability, and customer experience.
Survey Highlights
● Investing in Technology:
○ 34.3% prioritize AI and ML to drive predictive analytics and personalized trading strategies.
○ 32.9% focus on algorithmic trading, emphasizing precision and automation.
○ 7.1% embrace blockchain for secure and transparent operations.
● Digital Transformation:
○ Over 60% of stockbrokers have digitized more than 50% of their business processes, reflecting a strong push toward operational modernization.
● Safety and Simplicity:
○ 84.8% of respondents cited safety as a critical priority, underscoring the need for robust risk management and cybersecurity strategies.
○ 90.9% value simplicity, emphasizing user-friendly platforms to foster retail investor participation.
Shri V S Sundaresan, Executive Director, SEBI said : “The StockTech Survey 2024-25 underscores the transformative potential of technology in India’s capital markets. As stockbrokers increasingly prioritize investments in AI, blockchain, and algorithmic trading, SEBI remains committed to fostering an environment of innovation, transparency, and investor protection. By embracing emerging technologies alongside robust risk management frameworks, the industry can achieve sustainable growth while safeguarding the interests of market participants.”
Mr. Harin Mehta, Chairman,ANMI said: “The StockTech Survey 2024-25 offers a deep dive into the technological evolution of India’s stockbroking industry. With growing investments in AI, automation, and security, the industry is poised to deliver enhanced resilience and inclusivity. ANMI’s commitment remains steadfast in equipping the sector with the roadmap for sustainable growth in an increasingly digital world.”
The StockTech 2024-25 event, themed “Safety, Simplicity, and Scalability,” brought together leading fintech exhibitors, brokers, and industry thought leaders. Attendees explored cutting-edge technologies designed to address the dynamic needs of India’s capital markets.
About ANMI : The Association of National Exchanges Members of India (ANMI) represents trading members of India’s leading exchanges, including NSE, BSE, MCX and NCDEX. Dedicated to fostering ethical practices and skill development, ANMI acts as a bridge between brokers, regulators, and stakeholders to promote sustainable growth in capital markets.
