September 2006

COVER STORY Outer Defenses To win back investors' confidence following a seemingly endless parade of high-profile breaches, remote hardware security has become a differentiating factor for financial services firms. BUSINESS LINES Exchanges Are Adopting the FPL's FAST Protocol to Speed Up Market Data Rates With market data message rates surging, exchanges are adopting the FAST protocol to reduce bandwidth requirements. Get On the Omnibus: The Mutual Fund Industry Gears up for 22c-2 Mutual funds are focusing on omnibus account activity visibility and reporting as the compliance date for SEC Rule 22c-2 draws near. SOA: At Your Service The technology that supports service-oriented architechture continues to mature, further enabling firms' customer-centric strategies. Affirmative Action A flood of new solutions hits the credit derivatives space in an effort to stem the risk of backlogged paperwork. INDUSTRY VOICE Web Explosion It does not take a rocket scientist to realize that we are in the midst of an online revolution. PERSPECTIVES Switching a Back-Office Relationship Is Very Hard While the front office is eminently more glamorous and lucrative, switching front-office providers is easy. Switching a clearing, custody or depository relationship, however, is very hard.

FROM THE EDITOR Changing the Game MTV just celebrated its 25th birthday. And the MTV Generation, as it is known, discovered that it no longer is the new kid on the block. CIO CHALLENGE Energy Efficiency THE CHALLENGE: To meet the ever-increasing demand for computing power on Wall Street, firms require more and more energy to run their data centers. But faced with skyrocketing energy costs, CIOs are challenged to balance raw computing power with energy consumption. PRODUCT WATCH Matrox Releases PowerSpace for Virtual Desktop Management Safend UpGrades Endpoint Security With Protector 3.0 Spotfire Releases DXP for Enterprise Analytics, Features Pre-configured Guided Analytics for Financial Professionals SHIFTING GEARS Tullett Prebon Promotes Del Vecchio to CIO Silverman Makes a Move to Morgan Mark Tolani to Head Development at Cohen Bros. Keeping Tabs UP FRONT CDS Processing Cost to Peak in '06 IT Not Aware of GRC Needs Says Compliance Pros Corporate Actions Trip Up STP According to TowerGroup Research Operational Risk Management Goes Global Financial Services Companies Failing to Perform Due Diligence on Outsourcing Deals Ask The Experts: Ira Lehrman, CTO at Merrill Lynch, on Outsourcing