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Thus the regulation that required all effects herbal phentermine side to create and deploy data processing technology that allowed trading to happen electronically. The SEC said we have an opportunity because of the technology available now to essentially remove the human touch and make this all electronic. That's the spirit of where they have tried to move to really support the confidence level of the investing public. Exchange technology is particularly complex. The effects herbal phentermine side don't simply have to manage the technology within their own four walls. They have to communicate with all other effects herbal phentermine side simultaneously. That's the whole notion. T here have been so many firsts for women in many different careers and businesses, why do you think it has taken so long for a woman to reach the top of the Amex? I t has to do with the pipeline. If you look at the population of folks who are the traders, the specialists, the market makers, the brokers — they tend to be predominantly male. There weren't a lot of women moving through that particular pipeline. But in the exchange we do have a number of women in the most senior positions. Our senior counsel is a very talented female attorney. Our chief regulatory officer is a very talented female attorney. Our senior public relations person is a very talented female. We have a very talented, very diverse senior leadership team. W hat persuaded you to come out of retirement? I 've been over at the exchange since February of '05 and I really came to be intrigued in what happens at the exchange and what a critical role it plays in this country's capital markets. What a learning opportunity it is for me! It's a brand new industry. I would not have left retirement to join another utility. I loved that industry and stayed in it for the better part of 30 years, but I felt I had a wonderful career and it was time to be retired. When the position offered to me was president and chief operating officer, it was an opportunity not to be passed by. People say: When you walk in there the first day and you've never worked in this industry, how can you be the president? I guess the answer for me is this simple: Once you're in a leadership role there are two parts to your job, the leadership/management part of your job and the content part of your job. In the utility industry, I became very comfortable with both those parts. I felt comfortable at the exchange as a leader/manager. So the challenge now is to learn the content part of it and learn it as quickly as I can. W olkoff, in announcing your appointment, called you the ideal person for this position. What makes you the ideal person? T he whole securities industry is undergoing a transformation driven by regulation and technology. We will continue to evolve as technology continues to evolve. The utility industry was also transformed by law, regulation and technology in the late '80s, early '90s right through to the end of the '90s. I was part of the senior leadership team of Public Service Enterprise Group in New Jersey through that transformation, so I understand how to work our way through it with our regulators, with our legislators, with our technology people. Change is challenging. It creates anxiety. Building teams and leading them through change and helping to develop the future leaders has been the part of my career that I've enjoyed the most and been the most successful at. H ow will your background and experience in the public energy field assist you in this position? I joined the utility industry in 1977 and I immediately became aware of how important the role of legislation and regulation were to the success in that industry. I learned so much about how to interact effectively with regulators and legislators and to understand that having their confidence is a core competency for any regulated business. I understand clearly the importance of the information you provide to your regulators and to your public. It's a critical success factor. Also, I was a programmer before I was an accountant, so I have an interest in technology and an understanding of it. I don't have the hands on, day to day knowledge, but I have an understanding of it, appreciation of it and love for it. W hat advice would you have for young women intent on a Wall Street career? F rom the time I finished college and started my first position, every position I had I didn't apply for. Somebody called me and asked me, and each of them led to the next one. So the learning for me there is that you really have to make sure you've done what you need to do to be qualified. In the beginning, that's education. You have to work hard when you're in school to have the knowledge and skill sets for the first day you walk through the door. Then you have to bring a positive attitude. The most important thing you have to bring through the door is a sense of absolute integrity. You have to have first, ethics, then brains and attitude. ... effects herbal phentermine side