June 2006
COVER STORY

Banks Take Their Places on the Grid
As computing demands increase, more and more investment banks are jumping on the grid bandwagon. And as it matures, they're finding more and more uses for the technology.

Merrill Lynch Drives Efficiency Through Grid Computing
To drive greater efficiency, higher utilization and more flexibility in providing the tools and infrastructure the business needs to remain competitive, Merrill Lynch's business, development and infrastructure teams are collaborating on an enterprisewide grid computing project.


FEATURE
Money, Power And Principle
A lawsuit against Morgan Stanley provides a rare look into high-stakes IT deals and begs the question: Are you crossing the line?


BUSINESS LINES
An Industry in Denial
Industry participants believe the costs of Reg NMS will be someone else's problem, but investors surely will pay.

The Best of Both Worlds
Mutual funds with hedge fund characteristics, such as offerings from Rydex Investments, are giving customers more choices.


INDUSTRY VOICE
The Virtual Trader
By Peter Skoglund
In the event of a disruption, organizations can get traders back to work quickly by using infrastructure such as dedicated alternative trading facilities or by having a distributed architecture that enables traders to move among operational sites in a "hot desk" fashion.
FROM THE EDITOR
Playing by the Rules
The cost of compliance is extremely high. The SIA estimates that the financial services industry alone spends in excess of $25 billion on compliance.


CIO CHALLENGE
Project and Portfolio Management
The Challenge: As IT budgets have soared, firms have increased efforts to wring business value out of IT. Project and portfolio management software can help strengthen IT governance, better aligning tech initiatives with business goals and improving resource allocation.


PRODUCT WATCH
Flow-Based Anomaly Detection
Derivative Confirms for Buy Side
StreamBase Upgrades Engine


SHIFTING GEARS
Banhidi Switches Gears
Capitol Wealth Advisors Taps Paventi
Goldman Exec Joins OptionsXpress


UP FRONT
2006: The Year of EDM
Time Is Of the Essence
Dipping Into Dark Pools of Liquidity
EFX Users Plateau, But Volume Increases
For Good Measure
I Want My BPO
Communication Overload
Ask The Expert: Careers


SPECIAL REPORT

Getting Crafty With VOIP
Concerns about call quality, security, and infrastructure construction and management have kept some financial services organizations from investigating VOIP. But as the technology matures, that may be changing.


PERSPECTIVES
Strolling With My Alpha
Alpha? Beta? Have the Greeks invaded Wall Street and no one told me? Nah, not the Greeks, more like the quants.