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Fresh Waters

EDITOR'S LETTER

So, what’s new? Although investment firms have been ordered to put the brakes on spending, large-scale projects continue apace. Whether it’s implementing Rule 326--the "Know Your Customer" rule--of the USA Patriot Act by October 1 or building a new trading floor, cash-strapped CIOs and their staffs still have to get the job done while keeping a watchful eye on the bottom line.

This is decidedly bad news for software and hardware vendors. Yet while most have certainly suffered losses in this

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