IT contractors may find increasing job opportunities in financial services companies, as a technology firm introduces an innovative new system.

American firm FTEN has now received its patent for new technology which allows real-time risk management analysis in electronically traded markets.

The company believes that the technology is so revolutionary and improves risk management processes so significantly that it will change the landscape of the financial markets.

IT contractors could then have a number of opportunities to help market-based firms to update their computing processes, with the possible addition of organisers in the public sector.

"It is our hope that regulators will also consider similar secure data cloud approaches to achieve broader systemic risk management objectives of increased transparency, accountability and control," said FTEN's chief executive officer Ted Myerson.

Recruiter Alexander Mann Solutions recently claimed that IT contractors should look to the banking sector for job opportunities, as the sector is investing in technology.