October 31, 2005 Issue Abstract


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Derivatives Trading: Growth in Demand for Derivatives Trading Outpaces Adequacy of Operational Support. Industry insiders warn that Wall Street’s ability to grow the derivatives business may be stymied by manual processes and lack of adequate IT support for pre- and post-trade processing.


Industry Alert: Amex Plans Auction and Electronic Market Integration. Seeking to compete more strongly with other options markets, the American Stock Exchange (Amex) has filed rules for a new planned hybrid market structure with the US Securities and Exchange Commission.


Spotlight: Philippe Collas, Chief Executive Officer, SG Global Investment Management and Services and Chairman of SGAM.


Swaps & Derivatives: ISITC-IOA, AMF Swaps Group to Standardize Messages. In tandem with ISITC-IOA [International Securities Association for Institutional Trade Communication and International Operations Association], the AMF SWAPS Initiative Working Group [part of the Asset Managers Forum of the Bond Market Association] has begun talking about standards for trade notifications and confirmations, as well as collateral management, with the industry players who will be most affected.


Corporate Watch: BNY Securities Group Leverages Synergies in New Model. BNY Securities Group, the institutional agency brokerage, clearing and financial service outsourcing sector of The Bank of New York, has sought to offer a true global range of services to institutions, broker-dealers, corporations and financial intermediaries.


New Product Roundup: Advanced Solutions Offer Early Taste of 2006. Companies launching notable new offering in recent weeks include ADP, Advent Software, AIM Software, Buyins.net, Charles River Development, Clearstream, DST International, DTCC, Evaluation Services, and Financial Software Systems.


Regulatory Update: SEC Issues Interpretive Statement on Soft Dollars. The US Securities and Exchange Commission has issued interpretive guidance on money managers’ use of client commissions to pay for brokerage and research services under Section 28(e) of the Securities Exchange Act of 1934.



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