8 Of 10 Stockbrokers Raise IT Budgets

Mumbai: Over eight out of 10 (83.6%) stockbrokers in India plan to increase their IT budgets in 2024-25, with 41.8 per cent targeting a 20 per cent rise, according to a report on Friday.

The Association of National Exchanges Members of India Western region’s (ANMI-WIRC) ‘StockTech Survey 2024-25’ revealed that stockbrokers continue to focus on deploying cutting-edge technologies such as artificial intelligence (AI), algorithmic trading and blockchain to enhance efficiency, scalability and customer experience.

Harin Mehta, Chairman, ANMI said that the survey 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.

According to the survey, “34.3 per cent of stockbrokers prioritise AI and ML to drive predictive analytics and personalised trading strategies. While 32.9 per cent stockbrokers focus on algorithmic trading, emphasising precision and automation.”

However,7.1 per cent of stockbrokers embrace blockchain for secure and transparent operations, a survey said.As per the survey, over 60 per cent of stockbrokers have digitised more than 50 per cent of their business processes, reflecting a strong push toward operational modernisation.