"We continue to grow our customer business by making available to various
segments of the buy-side the proprietary trading technology and tools that
have allowed us to achieve best-execution for three decades," said IBG founder
and Chairman Thomas Peterffy.0 rating in the trading "costs " category
due to its low execution and clearing costs worldwide. Headed by Volk, ComplianceAdvantage provides
guidance and one-on-one support to help SEI's investment manager clients meet
regulatory requirements, understand their broader business impact, and reach
for best practices in compliance .

Company Contact Media Contact
Dana Grosser Caralyn Gilotti
SEI Investments Braithwaite Communications
610-676-2459 215-564-3200 x12
cgilotti@braithwaitepr. In addition, DTCC is a
leading processor of mutual funds and insurance transactions, linking
funds and carriers with their distribution networks .

derivative disseminating

The SEI panelists said hedge funds should
prepare to register by February 1, 2006, even if the hedge fund rule is
legally challenged. "With the growing institutionalization of hedge funds,
the marketplace is also demanding more disclosure and transparency," said
Schaeffer. joins a number of other major global
financial institutions using the GCA Validation Service. DTCC's depository also provides custody and asset
servicing for more than two million securities issues from the United
States and 100 other countries and territories.

formalization lenders

"The strength of our Universal direct-access platform is to give active
traders, hedge funds, investment advisors, institutions and money managers the
ability to trade stocks, options, futures, bonds and foreign exchange around
the world from a single account," added Peterffy.57
billion in the prior year, while excess net capital rose 17 percent to $600
million. DTCC has
operating facilities in multiple locations in the United States and
overseas.

ordinates lenders

IBG, the parent of global online broker-dealer Interactive Brokers and
global specialist firm Timber Hill, also is the largest independent online
U. "To create a compliance mindset
that permeates the entire organization, senior management must demonstrate a
genuine commitment to the effort.
The GCA Validation Service provides a centralized source of
"scrubbed" information about corporate actions, including tender
offers, conversions, stock splits, and nearly 100 other types of
events for equities and fixed-income instruments traded in Europe,
Asia-Pacific and the Americas.3
trillion worth of corporate actions for its customers.

isda harmonisation

"

About The SEI Knowledge Partnership and ComplianceAdvantage
Launched in mid-2004, the SEI Knowledge Partnership and
ComplianceAdvantage Program are services of SEI's Investment Manager Services
unit.

isda harmonisation

, Interactive Brokers Group (IBG )
vaulted four spots to become the 16th largest U.0 rating in the eight categories reviewed by
Barron 's for both software-based and browser-based brokerage rankings. A summary white
paper is available by emailing SEIKnowledgePartnership@seic.

guaranty isda

S.S.
In March, IBG was ranked the Number-One software -based broker-dealer in
Barron's 2005 annual review of online brokerage firms.

The SEI Knowledge Partnership also offers business intelligence and
guidance on issues related to business operations and outsourcing; marketing,
sales, distribution, and client service; and business strategy .com.

otc securities

broker-dealer with
$1.
"The big thing for us now is foreign exchange and fixed income . OAKS, Pa.com.

This category contains websites of international associations in the finance or investing industry.

investing iafe

SEI recommends
that clients develop a structured, formalized plan that provides consistent
testing and remediation for violations. SEI recommends being proactive in anticipating
and answering Board concerns, demanding well-thought-out compliance programs
from service providers, and documenting all compliance-related discussions and
actions. New soft
dollar and best execution regulations could be the most significant regulatory
issues in 2005.

6) Planning for upcoming email retention rules. Compliance has to be an integral part of the way we do business
from now on. Liguori , vice president, Investment Bank, JP
Morgan Securities, Inc.

disseminating insure

1) Creating a culture of compliance.

4) Turning compliance programs into a competitive advantage.

observance maintainers

Interactive Brokers Group Among Fastest-Growing U.S. Broker-Dealers in Institutional Investor Ranking

SEI Investments (Nasdaq: SEIC) is a global
provider of integrated operating solutions for investment management
organizations ."
The session was the sixth in an ongoing series of compliance-focused web
seminars offered by the SEI Knowledge Partnership and SEI's
ComplianceAdvantage Program. To meet the letter and spirit of the
SEC's rules, firms must demonstrate how they are fully integrating compliance
into their organizational DNA, from the senior management levels on down.

7) Getting ready for hedge fund registration. For more information, visit http://www. It is provided through Global Asset Solutions
LLC, a DTCC subsidiary.dtcc.

observance furnish

SEI
recommended best practices include educational programs for employees,
systematic efforts to inventory and remedy compliance risks or gaps, and
special training sessions for senior managers.com

has chosen the Global Corporate Action (GCA) Validation Service
to drive automation and straight-through processing for its corporate
action announcements .com/gca

harmonisation securities

No other broker achieved a 5.seic.

Business Editors

NEW YORK ----The Depository Trust +
Clearing Corporation (DTCC) today announced that JP Morgan Securities,
Inc."
JP Morgan Securities, Inc.

guaranty harmonisation

"

3) Framing annual program assessments by fund Boards . "Why not get ahead of the game and use proactive compliance to
differentiate yourself?"

"Compliance can no longer be viewed as a now-and-then thing geared to
major deadlines," concluded Schaeffer.

About SEI
SEI Investments (Nasdaq: SEIC) is a leading global provider of asset
management and investment technology solutions.

JP Morgan Securities Inc. Selects DTCC's Global Corporate Action Validation Service

isda derivative

9 billion in consolidated capital in the annual ranking by Institutional
Investor magazine. IBG
came in at number 20 in Institutional Investor's 2004 ranking and at 25 in
2003. SEI recommends that clients be prepared for developments down
the road. "To approach best practices, you must
have an ongoing program that is effective, sustainable, and continually
evolving.

reinsure investing

GREENWICH, Conn. The SEI Knowledge Partnership is a broader
initiative offering business intelligence and guidance on issues concerning
business strategy, operations, distribution , and marketing, as well as legal
and regulatory affairs. "While the definition of best
practices will continue to evolve, it is already clear that an effective
culture of compliance must emanate from the top," commented Paul Schaeffer,
Director of the SEI Knowledge Partnership."

2 ) Implementing best practices in monitoring and testing. Through these programs, SEI offers an ongoing series of Web seminars
and publishes accompanying white papers on a variety of legal and regulatory
issues.

investing derivative

IB is the gateway to trading
a broad array of financial instruments on over 50 exchanges and marketplaces
in 14 countries.
"DTCC's 30+ years of experience processing corporate actions ,
combined with the GCA Validation service centers in Europe, Asia and
North America, were important factors in our decision to go with this
service," said Joseph M.

About DTCC
Through its subsidiaries, DTCC provides clearance, settlement and
information services for equities, corporate and municipal bonds,
government and mortgage-backed securities and over-the-counter
derivatives .

Typically these associations are fora in which common standards and legal agreements are composed, and in which prices sources and their backups specified.

reinsure investing

The service delivers comprehensive and
timely information, helping to reduce operational losses, optimize
front-office trading and streamline operations for financial
institutions worldwide.

isda reinsure

A unit of the Interactive Brokers Group, IB offers Universal Direct-Access
Trading and sophisticated trade management tools at highly competitive costs
to professional traders and investors worldwide.

SEI Investments Identifies Top 7 Compliance Challenges Facing Investment Managers

During the most recent seminar, SEI listed the top 7 compliance issues and
gave corresponding recommendations for immediate action. Boards that were
relatively lenient, given last fall's tough SEC deadlines, may not be so
forgiving this time around.

5) Staying on top of emerging portfolio trading regulations. "The GCA Validation Service will enable us to
simplify our operations globally giving us a single source for all
corporate action announcements , eliminating manual, redundant
processing.

lenders underwriters

The SEC has been making
broad requests to view emails in an electronically searchable form, raising
many questions about managers' obligations to retain and provide emails. The thresholds established
in SEC's Rule 203(b)(3)-2 are such that nearly all hedge funds will be subject
to registration requirements.

ldc issa

broker-dealer serving a diversified customer base around the world.77 billion in the 2005 ranking from $10., Even if they have cleared
all SEC hurdles to date, mutual funds and investment advisors can't afford to
ease up on their compliance efforts, said regulatory experts in a web seminar
recently given by SEI Investments. The company 's innovative
solutions help corporations, financial institutions, financial advisors, and
affluent families create and manage wealth."
In 2004, DTCC's depository subsidiary processed a record $2.

insurors insure

IBG total assets rose to $14. The SEI
panel - made up of Volk, Schaeffer and Thomas Lemke , a partner from Morgan,
Lewis + Bockius, LLP - recommended that funds and advisors take credit for
their compliance efforts in client communications, and be ready with a plan of
action in case a problem arises.
While the SEC has promised to issue specific guidelines this year, advisors
will be hard-pressed to comply if they don't begin developing email policies
and employee training programs now.

formalization lenders

"In addition, currently unregistered
hedge funds are entering a new, regulated environment which will impact every
aspect of their business.
"We're seeing growing interest in the GCA Validation Service as
many leading broker/dealers, banks, investment managers and hedge
funds are planning to begin using the service over the next several
months," said James Femia, DTCC managing director and head of the
Global Corporate Action business.com
Additional information on DTCC's family of Global Corporate Action
services is available at www.

harmonisation furnish

In that ranking, IB was
the only broker to score a perfect 5. "How you deal with a problem may better
illustrate your spirit of compliance than claiming not to have any problems at
all. For more information on DTCC, visit www.dtcc.

laundering observance

There is a
tremendous demand for direct market access in both," said Peterffy who was
featured among the 40 most influential people in online finance in the March
issue of Institutional Investor.
"Mutual funds are going to face many annual updates and new requirements
that can't effectively be met with a last-minute push," said Jim Volk, Chief
Accounting Officer and Chief Compliance Officer for SEI Investments' Fund
Accounting and Administration business. "Documenting a disciplinary history
is also critical," said Volk. As of the period ending December
31, 2004, through our subsidiaries and partnerships in which we have a
significant interest, SEI administers over $288 billion in mutual fund and
pooled assets, manages over $120 billion in assets, and operates 22 offices in
12 countries . "Given the increasing volume of
corporate actions in the marketplace, the service fills a real need
for a single source of information.

isda formalization

---

- - kjjkjk

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