Celebrate the Russian New Year by catching up with friends and networking new contacts at the Financial Women’s Association vodka tasting.

The editors at The Glass Hammer have just learned that Benazir Bhutto, Pakistani opposition leader and champion for women’s rights, the rule of law and democracy, has been assassinated by a suicide bomber during a political rally in Rawalpindi, Pakistan on December 27, 2007. At least a dozen others were killed in the attack. Ms. Bhutto was just named in today’s The Glass Hammer article focusing on the most influential women of 2007, in which we noted that she, along with Hillary Clinton, were the only seriously influential women listed, on a list otherwise comprised of minor media celebrities.

While her politics and public statements were at times controversial, Ms. Bhutto was a champion for change and a strong female voice in a country and a culture that has for many years marginalized women and failed to recognize their right to equality.

Upon hearing today’s news, The Glass Hammer publisher and CEO Nicki Gilmour said, “I think anyone who saw Ms. Bhutto speak at the 2006 Securities Industry and Financial Markets Association (SIFMA) will know that this inspiring leader is a loss to the world since she had a great understanding of the eastern and western cultures. She endured the killing of her own family and followers but continued to take actions to foster democracy and women’s rights in Pakistan.”

Whether or not she really could have brought democracy to Pakistan is hard to answer. A deeply polarizing figure who had spent the last decade in self-imposed exile, her previous terms as Prime Minster from 1988-1990 and 1993-1996 were plagued with scandals and charges of political corruption, and she faced daunting political and military opposition from President Pervez Musharraf’s administration, with whom she had recently been trying to negotiate a power sharing agreement.

Unless you live in a country you can never really understand the culture and all of the dynamics at play, and it is not possible for us to speculate from a privileged position as women in finance in Western countries about what would be best for the people of Pakistan. However, one thing is clear. Ms. Bhutto had a mighty spirit, a brave plan and the international experience to work with people within her country and leaders throughout the world. An articulate fearless leader and a woman to inspire us all, she will be missed.

Contributed by Susie Potier

A rumor was circulating around the Futures Industry Association (FIA) Expo last month when the largest futures exchange did not exhibit at the conference. The question on the tip of everyone’s tongue was “why wasn’t the Chicago Mercantile Exchange (CME) at the FIA show?” It was the talk of the convention as futures traders from all over the country gathered in Chicago to discuss the changing futures trading landscape. As the CME is one of the original members of the Futures Industry Association, it is worrisome they did not sponsor this year’s event.

The FIA was established in 1955 as the national trade organization for the futures industry. According to their website, their mission is to provide a forum to discuss issues within the futures industry, work with the exchanges and represent the public customer. They also study ways to reduce transaction costs, eliminate credit fraud as well as coordinate educational and networking seminars, including those held at the FIA Expo, FIA Boca in May and the International Derivatives Expo in June.

Their members include over 40 of the largest futures commission merchants. The FIA also estimates that their members are responsible for 80 percent of customer business transactions executed on U.S. futures exchanges.

John Lothian, a futures broker who writes a daily newsletter, pointed out the absence of the CME at the FIA Expo on November 16, 2007. In his newsletter, he questioned the Exchange’s motives for not exhibiting at the show and said that “the spiteful posture sends a chilling message to the rest of the futures industry about how the CME group may be willing to treat those who have disagreed with them in the past or may disagree with them in the future.”

After reading Mr. Lothian’s comments and watching the FIA keep the CME’s booth space at the expo, it can only make one wonder if there is more to this story…

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FWA Members can catch up, network and reflect on the past year. For prospective members it represents a chance to learn more about the FWA and meet FWA leaders who shape the NJ agenda, serve as board members, and volunteer for many programs.