January 2008
COVER STORY
Wall Street Firms Increasingly Adopt Web 2.0

Wall Street Firms Increasingly Adopt Web 2.0
Financial firms increasingly are adopting Web 2.0 technologies to give customers the collaborative tools they've come to expect online. But traditional firms still have to catch up with the new generation of online brokers, and security remains a major concern.

Sidebar
Saxo Bank CEO Says Second Life is Good for Communications and Fun
Although it still is too early to tell how companies ultimately will leverage Second Life to gain strategic business advantage, the financial services industry continues to expand in the virtual world as it grows more and more popular.

SPECIAL REPORT
CIO Influence Is Waning
CIO turnover is increasing, and the the role of the top IT executive is at a critical point of change.

CIOs Must Lead By Example
CIOs need to exercise influence rather than control, refocusing the IT culture to home in on business value, better alternatives and rapid change.

BUSINESS LINES:

INVESTMENT MANAGEMENT
Fidelity, Thrasher Fund and Cake Financial Take Unique Approaches to Serving Generation X and Y Investors
Financial firms are embracing mobile technology, Web 2.0 tools and social networking principles to reach Gen X and Gen Y.

OPERATIONS
Wachovia Rolls Out Virtualization Throughout Its Data Centers and Some Trading Floors
In the interest of saving money and time and of becoming more environmentally friendly, Wachovia is virtualizing servers, desktops, storage and more.

Three Prongs to Wachovia's Virtual IT Strategy
Wachovia's vision of creating a virtual IT environment will provide the bank with a more agile technology infrastructure while cutting costs and helping the environment, says Jacob Hall, vice president and head of Wachovia's platform design and data center technology products group. According to Hall, the strategy is based on three principles.

TRADING
CME Group Migrates Combined CME-CBOT Electronic Trading to a Single Platform
CME Group is migrating the CBOT's elecronic trading to the Globex platform while consolidating two trading floors into one.

CME Boosts Globex's Capacity for CBOT Products and Speeds Up Data
CME increases capacity of Globex to process CBOT trading volumes while adopting the FIX FAST protocol to speed up market data.

FOCUS ON
Omgeo President and CEO Marianne Brown Looks to Expand Globally By Acting Locally
Emerging markets are ready to compete, says Marianne Brown, who joined Omgeo as CEO and president in November 2006.

FROM THE EDITOR
Quants Are Taking the Fun Out of Investing
Quants are Wall Street's version of the highly-efficient and near emotionless NFL scoring machine: the New England Patriots.

PERSPECTIVES
NYSE Specialist Elimination Is Overdue
The NYSE specialist may soon be eliminated and replaced with designated market makers. But whether these new market intermediaries are effective and profitable is questionable.

INDUSTRY VOICE
Asset Managers Adopt a Software-as-a-Service Model for Corporate Actions Processing
While asset managers and broker-dealers clearly do not need a corporate actions processing system as large as custodians, they do require an automated solution to mitigate the inherent risk with manual processing.

UP FRONT
U.S. Banks Are Targets in 60 Percent of Worldwide Phishing Attacks
Phishing Attacks target U.S. institions most, according to the RSA's Anti-Fraud Command Center.

Financial Industry's Pandemic Exercise Gets Mixed Results
2,775 firms took part in the three-week long exercise, which allowed enough time to simulate a full pandemic wave.

Retirees Seldom Move Assets
Aite Group report suggests that once retirees have entrusted their assets with certain firms, they tend to stay there.

Dark Pools Don't Translate in Foreign Markets
Despite their increasing popularity in U.S. markets, dark pools of liquidity are finding few takers in foreign markets, according to a new market study from Celent.

Data Breaches Costly For Financial Firms
Data breaches are costly for any company, but according to a 2007 study by the Ponemon Institute the average total cost for an incident is much higher in the financial sector.

PRODUCT WATCH
TKS' Penny Gets a Pickup
New York-based TKS Solutions has expanded the feature set of its flagship partnership and shareholder accounting software, Penny.

Agito Networks Releases RoamAnywhere Mobility Router
The router is a platform for mobile convergence with which an enterprise can leverage its WiFi networks for in-building mobile voice and data services.

MyComplianceOffice Provides Proof of Compliance by Auditing Activities
Compliance management solution MyComplianceOffice from TerraNua audits activities including attestations, policy review and updates and employee trading.

SHIFTING GEARS
L'Huillier Named CTO at Project Turquoise
Former Boston Stock Exchange CIO moves to head technology at Project Turquoise.

Vhayu Co-Founder Chadha Heads to Nirvana Financial
Chadha aims to enable the provider of technology for global hedge funds to take full advantage of available global market data while minimizing latency.

O'Keefe Joins Data Visualization Vendor
Former trader will develop programs that help traders perceive their risk profiles at a glance.