We have established an ambitious research program for 2004 and beyond. It includes such topics as how to improve our economic modelling, how regulatory initiatives and frameworks can help or hinder financial markets and institutions, and an investigation into the effects of various types of asymmetric information on capital markets. We are proud of the work that we do.
But we recognize that we can't do it all ourselves. There will always be large gaps in our research program. And we recognize that our research, and the research that is being carried out in universities, can be mutually strengthened through collaboration. And so we promote good research by actively collaborating with academics and seeking out partnerships.