IT skills in high demand

Recent research from the Confederation of British Industry (CBI) shows there's high demand for IT skills in London's banking sector, writes Astbury Marsden.

A report by the organisation claims technology-based knowledge is one of the key areas employers are eager to consider when recruiting. Richard Lambert, director-general at the CBI, predicted: "The demand for people with high-quality skills and qualifications will intensify."

In addition, the report suggested many businesses are keen to expand their capabilities in terms of offering apprenticeship places.

The Securities and Exchange Commission is struggling to react to the 'flash crash' of 6 May in part because it knows little about who is trading what, states Investment News.

"The technologies used for market oversight and surveillance have not kept pace with the technology and trading patterns of the ... securities markets," said SEC chairman Mary Schapiro in testimony to the securities subcommittee of the Senate Committee on Banking, Housing and Urban Affairs.

Next week, the SEC will propose a rule to create a consolidated audit trail. The improved audit system would give the SEC real-time access to most of the market data it needs to reconstruct and analyse market disruptions like that of 6 May, said Schapiro.

The iPhone is expected to replace the BlackBerry as the corporate communication device of choice for some bankers employed by Standard Chartered, says Bobsguide.

According to newspaper reports, staff working for the bank will now be given the option of choosing the Apple-manufactured device for mobile e-mail and Internet access. Asian-based Standard Chartered is believed to be one of the first large financial institutions to offer the device to its staff.

Jan Verplancke, chief information officer and head of technology for Standard Chartered, said the new device had been offered to bankers due to the compatibility of its applications with banking systems.