| Panelists : | Mr. William J. Brodsky, Chairman & CEO, Chicago Board Options Exchange, Chicago | Mr. James McNulty, President & CEO, Chicago Mercantile Exchange, Chicago | Mr. Mark D. Fichtel, President & CEO, Board of Trade of the City of New York, New York | Mr. Frederick J. Grede, Chief Operating Officer, Hong Kong Exchanges and Clearing Ltd., and Chief Executive, Hong Kong Futures Exchange, Hong Kong | Mr. Renato Mercadante Mortari, Corporate Affairs Director, Bolsa de Mercadorias e Futuros, São Paulo | Mr. Douglas B. Gardner, Vice Chairman, eSpeed Inc., New York, and Executive Managing Director, Cantor Fitzgerald, L.P., New York |