Transforming Legacy Tech

Today we face greater cost and risk pressures than ever across our industry – and we have an unprecedented range of technological solutions available with which to address these pressures.

So why are legacy back office platforms still so prevalent across the global sell side? We have a chance for a generational transformation in our trade processing – and so what is holding us back?

39% of firms are replacing LegacyTech this year

By 2024, 84% of firms will have undertaken LegacyTech replacement projects  – a large number of which are happening this year.

22% of firms are replacing LegacyTech in corporate actions

Now is the time for LegacyTech replacement – most of all in corporate actions. With almost one in four firms focusing on asset servicing as their key transformation priority, we look set to see increased automation and STP in this key area.

Replacing Legacy systems yields USD1.5m on average

We are all well-aware of the significant costs of replacing LegacyTech today. But are we equally aware of the revenue upsides that these replacements facilitate? With the average legacy replacement project yielding almost USD700k in new revenues enabled, it is key that we build our change planning based on more than just operational savings.

97% of derivatives systems are unable to handle other asset classes

Derivatives have always been held apart as an asset class – with few organisations running their trading across a multi-asset infrastructure. But in an era of cross-margining and capital efficiency, how can we continue to keep 97% of our systems separate?

27% of clearing and settlement systems are over 20 years old

The sell-side appears to carry a significantly higher LegacyTech burden than the buy-side – with one in four settlements systems older than 20 years. What is that doing to impede our performance, risk management and agility today?

Previous
Next

Read the full story

Read the full story here: including all of the statistics and expert insights that you need to plan ahead

Full Key Findings

Download the key statistical insights from our industry-wide research here

Legacy Tech Key Finding by TheVX

Listen to the experts' view on post-trade technology transformation

TheVX Logo

How are firms turning LegacyTech into a competitive edge today?

Today's back office is highly complex and is set to become much more so. In the face of cost pressures, new settlement disciplines and accelerated transaction lifecycles, what role does our technology play as an enabler or obstacle to significant change?

Listen to @Richard Wilson from @IHS Markit and @Tracy Moors from @Digital Asset as they share their expert views with @Barnaby Nelson on how firms are driving a new competitive edge today through their LegacyTech transformation.

graphs

Login

to access our interactive Dashboard

Contact Us If You Don’t Have Login Info

Read the full story here: including all of the statistics and expert insights that you need to plan ahead

Read the full story here: including all of the statistics and expert insights that you need to plan ahead

Subscribe Now

Please share your email if you would like to receive more of the VX's unique, actionable insights.

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here

Download the key statistical insights from our industry-wide research here