June 26, 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

Risk Management: Back Offices Support Front-Office Growth, Reducing Risk, Supporting Product Development. Managing operational risks from trade inception in the investment front office can encompass many tasks, not least of which is identifying where the risk itself lies, no matter where the post-trade processing activities take place. Some post-trade risks are embedded in front-office tasks while others remain latent and undetected.

Industry Alert: NYSE, Euronext Consider Consolidation of Platforms. As the New York Stock Exchange and Euronext proceed with their merger plans, one big question is which exchange’s technology platform will prevail and be used by both in the future.

Spotlight: Douglas M. Atkin, President and Chief Executive Officer, Majestic Research Corp.

Hedge Funds: Transparency Calls, Valuation Needs Spell Outsourcing. Institutional investors seeking alternative investment returns are pressing hedge funds for improved operational transparency. Large investors need to know what a hedge fund is investing in every day and want those funds to have independent third-party valuations.

Clearance & Settlement: Lack of Standards Threatens Structured Securities. The Depository Trust & Clearing Corporation will work with the Bond Market Association and the American Securitization Forum to address processing problems concerning structured securities such as collateralized mortgage obligations and other asset-backed securities.

The News Network: Nasdaq Begins IPO Cross for Secondary Trading Executions; FrontLine Debuts With Custom Regulatory Solutions; Lava Trading Offers BATS ECN Access for Nasdaq Stocks; Orc Software Debuts FX Access on FXall, Hotspot FXi.