For the S&I team, SIBOS was a whirlwind of activity and it was nice having it in Toronto- not too far. While I will summarize my thoughts from the conference next week, it was quite eerie timing to have so much market turbulence as we were discussing regulatory reform, derivatives trading and market structure developments and the latest in GUIs, widgets and other tools for back and middle office operations. Even as I left SIBOS and walked a few blocks into a meeting with the Toronto Stock Exchange I caught a glimpse of the global market carnage. Clearly, there is much change coming for the industry and we have to consider that even as we detect and analyze long term trends and evaluate the minutia of vendor offerings, near-term inflection points can disrupt planning and move things in a new direction