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09 August 2011       Albourne Village

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A working group of leading hedge fund managers, investors, prime brokers and administrators have come together to launch the Open Protocol (OP) Template. This was formally launched on 9 August 2011 in London and on 11 August 2011 in New York, with the purpose of standardizing how hedge funds collect, collate and convey risk information.

The main objectives are to help hedge fund investors aggregate and integrate their exposures; to help reduce the proliferation of investor-specific risk formats requested of funds over time; and to provide regulators with a detailed technical approach forged by practitioners in the hope that a systematic approach will emerge for trying to identify systemic risk.

The aim is for the Open Protocol template and manual to be updated over time when significant changes occur in the financial industry to accommodate these developments.