Data security is top priority in electronic trading, say Kewill

Friday 9th May 2008: 11:13

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Security is a major issue in electronic trading, according to a recent survey.

Research by Kewill, which provides global solutions for the dynamic supply network, reveals that 69% cite security of data as a high priority.

The survey of insurers, brokers, software houses and consultants was conducted at the recent Post E-Business Strategy 2008 event.

More than half (54%) said improved customer service is a top priority, while reduction of operating costs, improved business efficiency and reliability were listed as other key areas.

Some 50% said manual re-keying of data is a difficulty when trading or communicating electronically, while a massive 85% said incompatibility with other technology platforms is a moderate or major concern.

Interestingly, 11% are not yet trading electronically, while, of those that do, some 61% of electronic trading is either fully or partially outsourced.

All the participants said they thought the amount of electronic trading conducted in the market would increase over the next two years.

Debbie Baker, business unit director, insurance at Kewill, which provides global solutions for the dynamic supply network, said the survey revealed some interesting results.

“We have a stake hold in what’s happening in the market place and understanding what’s happening in the market is key to our business,” she added.