February 20, 2006 Issue Abstract

To purchase this issue of Global Investment Technology, please contact Terry Tiangco at (212) 370-3700, x287 or e-mail ttiangco@globalinv.com

Fixed Income Trading: Small and Mid-Tier Managers Face Greater Risk As IT System Strength Becomes Competitive Issue. Automation in the fixed-income world is growing even in the face of a 20 percent decline in US corporate bond trading volumes in 2005. In Europe, fixed-income markets are benefiting from a shift out of equities by institutional investors.

Industry Alert: DTCC Plans to Automate New Issues Processing. Municipal bonds and new securities issues, including equities, will see dramatic improvements in timeliness, accuracy and efficiency of trading with a centralized and automated service to be implemented by the Depository Trust and Clearing Corporation (DTCC) by the third quarter of 2007.

Spotlight: Christian Clausen, Head of Asset Management at Nordea.

Business Strategies: ITG Readies Offering Of a ‘Best Execution OMS.’ With its formation of ITG Solutions Network, Inc. on the closing of its acquisitions of Macgregor and Plexus Group, Investment Technology Group, Inc. (ITG) is positioning itself to better serve the growing hedge fund market.

Asian Market Monitor: Doing Business in China: Local Connections Help. Solid planning prior to setting foot on mainland China, international experience and hiring local Chinese talent helps ensure future success for financial firms and IT services providers who want to do business in the Asian powerhouse.