According to the survey, 83.6% of stockbrokers intend to boost their IT spending, with 41.8% aiming for a 20% hike. Artificial intelligence, algorithmic trading, and blockchain are the top technical priorities. StockTech 2024-25, themed "Safety, Simplicity, and Scalability," drew together top fintech players and brokers.
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 released its StockTech Survey 2024-25, which highlights the most recent trends and challenges in the stockbroking industry. The findings were announced during the flagship StockTech 2024-25 event hosted at NESCO in Mumbai.
According to the survey, a stunning 83.6% of stockbrokers intend to boost their IT budgets in 2024-25, with 41.8% expecting a 20% increase. The emphasis continues on implementing cutting-edge technology like artificial intelligence (AI), algorithmic trading, and blockchain to improve efficiency, scalability, and client experience.
Survey Highlights:
● Invest in technology:
1. 34.3% prefer AI and ML for predictive analytics and tailored trading strategies.
2. 32.9% focus on algorithmic trading, which prioritizes precision and automation.
3. 7.1% adopt blockchain for safe and transparent processes.
● Digital Transformation:
○ Over 60% of stockbrokers have digitized at least 50% of their business processes, indicating a strong drive for operational modernization.
● Safety and Simplicity:
○ 84.8% of respondents prioritized safety, highlighting the need for effective risk management and cybersecurity strategies.
○ 90.9% prioritize simplicity and user-friendly systems to encourage retail investor involvement.
Shri V S Sundaresan, Executive Director of SEBI, stated, "The StockTech Survey 2024-25 highlights the transformative potential of technology in India's capital markets. As stockbrokers prioritize investments in AI, blockchain, and algorithmic trading, SEBI remains dedicated to creating an environment that fosters innovation, transparency, and investor safety. By embracing innovative technology and rigorous risk management frameworks, the industry may achieve long-term growth while protecting market players' interests."
Harin Mehta, Chairman of ANMI, stated, "The StockTech Survey 2024-25 provides a detailed look at the technological growth of India's stockbroking business. With increased investments in AI, automation, and security, the sector is prepared to provide greater resilience and inclusion. ANMI remains committed to providing the sector with a plan for sustainable growth in a digital future. The StockTech 2024-25 event, themed "Safety, Simplicity, and Scalability," brought together prominent fintech exhibitors, brokers, and industry thought leaders. Attendees looked at cutting-edge solutions developed to meet the changing needs of India's capital markets.
