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Here are some of the major drivers for IT services growth, specifically in capital markets and prime brokerage:

Capital Markets

1. Trading platforms - Continuous spending on lower latency trading systems and scalable cloud infrastructure to support high-frequency and algorithmic trading.

2. Data management - Solutions for processing huge volumes of market data, including tick data and using big data analytics and AI for actionable insights.

3. Risk management - IT services for real-time market and counterparty risk monitoring across asset classes. Also, regulatory reporting.

4. Post-trade processing - Automate confirmation, clearing, and settlement processes using technologies like blockchain and DLT (Distributed ledger technology).

Prime Brokerage

1. Client portal - Ongoing portal development providing clients access to reports, account information, and risk analytics.

2. Security - High spending on cybersecurity, including data encryption, access controls, and fraud detection to protect client assets.

3. Connectivity - Ultra-low latency networks and colocation services to exchanges to enable fast trade execution.

4. Reporting - Automating client reporting through APIs and integration with internal systems like OMS and risk engines.

Key differences:

• Capital markets focus heavily on trading performance, data and risk management.

• Prime brokerage emphasises security, client access, and seamless integration.

But both have a strong demand for automation, real-time data capabilities, and robust cybersecurity measures given the high-value transactions. Regulatory requirements also drive a lot of IT spending to stay compliant.