Nybo added that "sell-side firms are realigning their business models, turning to technology as an enabler for more efficient operations, better customer service and ultimately to support increased revenues". This year, businesses will invest $1.2 billion globally to support post-trade processes for derivatives, he said.

The complexity of execution strategies is also generating a new set of challenges. "As more firms use automated strategies to trade derivatives and more trades are executed through algorithms, clearing brokers specialising in high-frequency trading services, for example, will feel the pressure," he said.

"Even though these firms may go home flat overnight, an inability to manage trading activity throughout the day can significantly impact real-time margin and risk calculations, especially in times of elevated volatility."