September 17, 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

The Electronic Marketplace: Trading Technologies Whet Canadian Appetites For Leveraging Algorithms Across Dark Pools. The number of venues for tapping ‘dark’ or undisclosed liquidity has only just begun to increase in Canada. The increasing number of alternative liquidity pools sets the stage for buy-side institutions to deploy algorithmic trading strategies that expose order flow briefly to multiple execution venues.

Industry Alert: Interoperability Poses New Challenge for Exchanges. Following the mergers and consolidations set in motion over the past two years, the activity on the exchange front is now shifting toward making operations technology compatible or even having one exchange’s technology replace another’s.

Electronic Trading Networks: ITG Net Debuts With Access to 350 Global Brokers. Investment Technology Group Inc. has expanded the number of brokers its customers can use with the launch of ITG Net, a service that combines ITG’s existing routing network with the Macgregor Financial Network it had acquired with its purchase of Macgregor in early 2006.

Spotlight: Jana Schreuder, President, Worldwide Operations & Technology, Northern Trust Company.

Focus On Latency: Yipes FinancialConnect! Portfolio Finds Its Niche. The London Stock Exchange turned to Yipes FinancialConnect! Portfolio when it faced a challenge in distributing its data across North America with minimal latency. Using this Ethernet-based solution, the LSE could “pop out” data to buy-side firms through a direct connection.

Business Strategies: CME-CBOT Union Focuses on Financial Engineering. The Chicago Mercantile Exchange’s acquisition of the Chicago Board of Trade will enable the CME to engineer products that accommodate market volatility as it increasingly pushes investors in the direction of futures and derivatives.