920424--3/2/2009--INVESTMENT_TECHNOLOGY_GROUP

related topics

{system, service, information}

{customer, product, revenue}

{property, intellectual, protect}

{acquisition, growth, future}

{financial, litigation, operation}

{operation, international, foreign}

{product, market, service}

{regulation, government, change}

{tax, income, asset}

{competitive, industry, competition}

{investment, property, distribution}

{interest, director, officer}

{regulation, change, law}

{cost, contract, operation}

{cost, operation, labor}

{stock, price, operating}

{condition, economic, financial}

{loss, insurance, financial}

Certain Factors That May Affect Our Financial Condition and Results of Operations Decreases in trading volumes or securities prices could harm our business and profitability. Decreases in our commission rates and other transactional fees could adversely affect our operating results. A failure in the design or operation of our technology could adversely affect our profitability and reputation. If we fail to keep up with rapid changes in technology and continue to provide leading products and services to our customers, our results of operations could be negatively impacted. Insufficient system capacity, system operating failures or security breaches could materially harm our reputation, financial position and profitability. Our securities and clearing business exposes us to material liquidity risk. Our business exposes us to credit risk that could affect our operating results and profitability. As a clearing member firm in certain jurisdictions we are subject to significant default risk. Our operations in jurisdictions other than the U.S., Hong Kong and Australia are dependent on their clearing agents and any failures by them could materially impact our business and operating results. We incur principal trading risk in our Canadian interlisted arbitrage trading business. The business in which we operate is extremely competitive worldwide. We face certain challenges and risks to the growth of our non-U.S. business that may adversely affect our business strategy. We are dependent on certain major customers and a decline in their use of our services could materially impact our revenues. The securities markets and the brokerage industry in which we operate globally are subject to extensive, evolving regulation that could materially impact our business. Our fixed costs for technology and infrastructure may result in reduced profitability or losses. We are dependent on certain third party vendors for key services. We incur risks related to our international business due to currency exchange rate fluctuations that could impact our financial results and financial position. We could be subject to challenges by U.S. and foreign tax authorities that could result in additional taxes and penalties. Inability to protect our intellectual property may result in increased competition, loss of business or other negative results on our business and financial condition. If we were to unknowingly infringe third party intellectual property or be accused of doing so without merit, we would bear significant costs of defense and litigation, which could impact our financial results. Financial and operational problems with our acquisitions and strategic relationships could have a material impact on our results of operation. Misconduct of our employees could cause us reputational and financial harm.

Full 10-K form ▸

920424--3/2/2009--INVESTMENT_TECHNOLOGY_GROUP_INC