STRUCTURED PRODUCTS FAIR VALUATIONS
A SPECIAL AMG INTERNET VIDEO PRESENTATION
FRIDAY, SEPTEMBER 7, 2007 / 11:00 a.m. Eastern / 8:00 a.m. Pacific / 16:00 GMT

Click here to REGISTER. And then on 9/7 participate in this event online!

In light of challenges associated with the sub-prime situation, the Asset Management Group ("AMG") of SIFMA is offering a live Internet video presentation on September 7th, beginning at 11:00 a.m. Eastern Time, that will describe the buy side basics of fair valuation pricing sources concerning structured securities and related products. This presentation -- which is the online equivalent of a television broadcast -- will also include audience Q & A.

This initiative has been developed under the leadership of Cynthia Meyn, Managing Director of Morgan Stanley Investment Management, who serves as a member of the AMG Steering Committee. Specifically, the 9/7 presentation will use hypothetical examples to illustrate the various steps that many traditional buy side firms currently follow when they arrange to utilize the services of the leading vendors in the valuations space.

There are no simple answers to the complex valuations questions that traditional asset managers and their counterparties are presently dealing with in the marketplace. However, the AMG believes that the 9/7 review of basic buy side practices will be helpful to professionals in the investment community as they assess their individual strategies designed to provide ultimate investors with updated account valuations.

Panelists on 9/7 will include David Lefferts of Markit and Mas Nakachi of Calypso. In addition, MSIM Managing Director James Garrett will share his views on the role of internal buy side valuation committees. AMG Staff Advisor Joseph Sack will provide a background piece and introduce the panelists. Ms. Meyn will serve as moderator of this special 60 minute presentation. Additional panelists TBA.

Should you have any questions concerning this Webinar event, please contact Joe Sack at 646-637-9265. Thank you.

The Asset Management Group reports to the Board of Directors of the Securities Industry and Financial Markets Association. John Gidman, Executive Vice President of Loomis, Sayles and Company, L.P., and David L. Murphy, CFA, Senior Vice President and Head of Fixed Income, Fidelity Investments, serve as Chair and Vice Chair, respectively, of AMG.

SIMCORP IS THE PROUD SPONSOR OF THIS EVENT

New Listed Options Symbology – Are you impacted?

In May 2006, a group of options industry professionals created a plan to overhaul the symbology used in representing exchange traded option contracts. The committee was asked to recommend an approach to eliminate the practice of representing listed options contracts with OPRA codes (tickers) and fractional strike prices by the OCC Board of Directors (which is comprised of broker dealer and exchange leaders). The Options Symbology Initiative (OSI) plan was released for comment in May 2006, amended and approved by the OCC Board of Directors on December 5, 2006. The committee added the implementation strategy to the OSI plan on August 8, 2007.

Asset managers that trade listed options will have to amend their security master files and order management systems to accommodate these changes. If you wish to learn more about this project, please refer to the link. Information regarding the (OSI) may be viewed at www.optionsclearing.com/symbology/.

Upcoming Events

Log on to: www.theassetmanager.com to register for the following events:

Technology Webinar / Fair Valuation Pricing Sources & the Buy Side - September 7, 2007

Training Class: Introduction to Capital Markets - September 14, 2007 (New York City)

Asset Management Conference -September 18, 2007 (Boston)

Workshop on Data Management - September 19, 2007 (Boston)

AMF Member Meeting - September 20, 2007 (Boston)

Training Class: Introduction to Fixed-Income - October 5, 2007 (New York City)

SIFMA Fixed-Income Operations Conference - October 25-27, 2007 (Fort Lauderdale)

Training Class: Introduction to Equities - November 30, 2007 (New York City)

Training Class: Introduction to Derivatives - December 19, 2007 (New York City)

Important Publications:
SIFMA Update
Washington Weekly
Legal, Regulatory and Market Practices Action Line
Weekly Report of the American Securitization Forum
SIFMA SmartBrief (past five issues)