For the past few months, many “Articulaters” have been swept up in planning. Not just for the long-awaited (and still being waited upon) summer; rather, for the SIFMA Technology Management Conference – one of the largest fintech events, especially for securities, capital markets and investment services.
While I’m not a SIFMA newbie, I haven’t been going for two-plus decades like some of my peers. I missed the SIFMAs of the 1990s, before the boom and bluster of the Dot.com crash. My frame of reference is the 2000s – full of all the high-performance computing jargon, latency benchmarks, Web 2.0, widgets galore, booth babes and nary an empty glass in sight.
This year’s show was quite different though. Rather than the hustle and bustle of last year’s pre-Lehman Brothers’ collapse event of 7,000, including vendors, sell- and buy-side end users, exchanges and more, this year’s event was down by at least a third, if not by half. If anything, it served as a stark reminder of how many have been impacted by Wall Street and its supporting industries. Perhaps in all this the media industry has fared the worst. With dwindling vendors and ever-shrinking budgets for advertising, it’s the publishers, editors, journalists and support staff that bear the brunt of the pain.
I’m not trying to paint an all-dour picture. In fact, many remarked that the quality of attendees was up. There were prospects, partners and service providers abound across the exhibition halls and meeting rooms of the midtown Hilton.
On a personal note, I had the pleasure of working with Articulate client Portware to celebrate the success of those still making things happen and representing the best in the industry: the analysts and journalists that highlight the goings-on, breaking news, trends and predictions. After watching long-time friends, formidable competitors and all-around industry legends (Madoff, anyone?) falter and sometimes fall in the past year, Portware had the courage to highlight the positive things that are happening. With the help of a charity auction, some Clear Channel friends and a phenomenal designer, Portware found its way to fame on a billboard – the Times Square JumboTron. The ad, running every 15 minutes, reminded us to look up at what’s in front of us.
I’m extremely proud not only of the always-resilient fintech community, but especially for my colleagues – the team members who worked long hours, our fantastic clients who came out in full force and my peers in the industry. Congrats on a well-deserved event. After all, SIFMA is a reminder that it’s an incredibly small – and hopefully finished-shrinking – industry in which I’m happy to be a part.
By Katy Zack