May 28, 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

Hedge Funds: Insufficient Hedge Fund Data Transparency Complicates Risk Management, Client Reporting. The Pension Protection Act of 2006 makes it easier for hedge fund to accept pension fund investments without being subject to ERISA standards for private industry pension plans, while it increases due diligence requirements in various areas for pension fund managers.

Industry Alert: Thomson, Reuters Union Lifts Products and Prices. The merger of Thomson Corporation and Reuters Group PLC forming Thomson-Reuters Corporation raises concerns among some industry participants that higher market data prices may lie ahead. The union narrows competition while providing seamless access to broader content and wider capabilities.

Canadian Market Monitor: Project Alpha Platform to Offer Continuous Matching. Technological advances are heating up exchange competition in the Great White North, with seven Canadian investment firms starting plans for a new trading system, Project Alpha.

Spotlight: Stephane Loiseau, Head of Global Program Trading, Société Générale.

Plan Sponsor Focus: Liability-Driven Investing Highlights New IT Needs. While defined-benefit pension plans in Europe are changing their investment approach from asset-focused investing to liability-driven investing (LDI), few US plan sponsors have jumped on the LDI bandwagon.

Investment Support Services: Bisys Deal Augments Citi’s Hedge Fund Servicing. Diversified financial giant Citi plans to enter hedge fund administration and enhance its mutual fund service offerings through the acquisition of the Investment Services Division of Bisys Group Inc.