June 11, 2007 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

Block Trading: Buy-Side Traders Say Block Trading May Be On the Upswing With Newer Hybrid Approach. After years of whittling down trades into smaller pieces to reduce market impact or to soak up liquidity in ECNs and alternative trading systems, institutional investors are on the threshold of a resurgence in executing block trades across a broader spectrum of liquidity pools.

Industry Alert: OMX Deal Will Strengthen Nasdaq in Options Trading. Nasdaq’s planned acquisition of OMX, an exchange technology provider and operator of the Nordic Exchange, will boost its expansion into options trading. Nasdaq will also benefit from OMX’s expertise in derivatives.

Electronic Trading Forums: Nasdaq Plans an Expanded Portal for Rule 144A Issues. Nasdaq is planning a new fully automated, closed trading platform for Portal, its institutional market which handles SEC Rule 144A securities.

Spotlight: Timothy Mahoney, Chief Executive Officer, BIDS Trading, L.P.

On The Exchanges: Japan Weighs Merging Its Financial Markets Into One. As Japan’s government reportedly considers a merger of stock, commodity and other financial markets into a single super exchange under the umbrella of the Tokyo Stock Exchange, it may only be following the dictates of what market participants want.

Hedge Funds: Market-Oriented Regulation Evolving for Hedge Funds. Institutionalization of hedge funds is changing the nature of their regulation in the year since a US federal appeals court overturned the SEC’s registration requirements for hedge funds.

Portfolio Management: Alternative Investments Put New Face on Systems. Booming business among hedge funds and money managers is boosting the fortunes of portfolio management vendors, including Thomson Financial, Netik, Pendo Systems and Advent Software.

Business Strategies: Tata to Invest $50 Million in Financial Solutions Unit. Tata Consultancy Services has formed a new strategic business unit, TCS Financial Solutions, to serve as a products company leveraging Tata’s development and systems integration knowledge.

New Product Watch: A roundup of offerings to be featured at this year’s SIFMA Conference in New York.