RI3K chief executive Alex Letts has warned that the London market’s adoption of electronic systems is being slowed by changing messaging standards.
Letts said that the continued development of the Acord and Market Reform Programme Office (MRPO) standards meant that providers of electronic placement systems, such as RI3K, had to modify their software too often.
He said development of the standards should be put on hold to allow the market to implement placing systems at their current state.
Letts said: “There is a lack of appreciation for the people who provide these systems.
“It makes us feel like we’re shooting at ever moving goal-posts. Modernisation needs to continue, but each time we make changes it slows the electronic providers down.”
But he stressed that this did not mean standards should not be developed in the future.
“There’s nothing wrong with staged evolution. It is inevitable that standards will change in the effort to modernise.”