On behalf of SIFMA’s Board of Directors, I invite you to attend our 2007 Annual Meeting, November 7-9, at the Boca Raton Resort and Club in Boca Raton, Florida.  This year’s program will address a full range of key issues facing our industry today, including competitiveness of the U.S. capital markets, global exchange consolidation, regulatory and legal initiatives, and trends in the fixed-income and capital markets.  Among the confirmed speakers will be FINRA Chairman and CEO Mary Schapiro, NYSE Euronext CEO John Thain, CME Group CEO Craig Donohue, SEC Commissioner Annette Nazareth, Harvard University Professor Hal Scott, and political commentator Tucker Carlson.

In addition, industry experts will lead business unit breakout sessions in the areas of Capital Markets, Private Client, and Asset Management.  I hope your firm and other SIFMA members will take the opportunity to provide input on the policy priorities and market initiatives we are developing in each of these areas.  Our goal is to create consensus on these important issues so that we speak clearly as one voice for the industry and our markets.

I am confident you will benefit from attending the annual meeting, and that you will find it a valuable, rewarding experience.  I also welcome your comments or suggestions on how we can make your participation more meaningful to you – as well as on any other SIFMA business matters.

I look forward to seeing you in Boca Raton in November!

                Sincerely,

                Marc E. Lackritz
                President and CEO