Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  OBSTLER DAVID M
 2. Date of Event Requiring Statement (Month/Day/Year)
01/24/2008		 3. Issuer Name and Ticker or Trading Symbol
RiskMetrics Group Inc [RMG]
(Last)
(First)
(Middle)
C/O RISKMETRICS GROUP, INC., ONE CHASE, MANHATTAN PLAZA, 44TH FLOOR		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Financial Officer
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

NEW YORK, NY 10005		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock, Par Value $0.01 Per Share 41,666
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right To Buy)   (1) 01/28/2015 Common Stock, Par Value $0.01 Per Share 41,664 $ 4.8 D  
Stock Option (Right To Buy)   (2) 01/28/2015 Common Stock, Par Value $0.01 Per Share 354,170 $ 4.8 D  
Stock Option (Right To Buy)   (3) 12/31/2015 Common Stock, Par Value $0.01 Per Share 62,500 $ 7.2 D  
Stock Option (Right To Buy) 12/31/2010 12/31/2016 Common Stock, Par Value $0.01 Per Share 6,537 $ 15.29 D  
Stock Option (Right To Buy)   (4) 12/31/2016 Common Stock, Par Value $0.01 Per Share 30,962 $ 15.29 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
OBSTLER DAVID M
C/O RISKMETRICS GROUP, INC., ONE CHASE
MANHATTAN PLAZA, 44TH FLOOR
NEW YORK, NY 10005		       Chief Financial Officer  

Signatures

/s/ David Obstler 01/24/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Options granted on 12/31/2002, which vest in two equal annual installments on the third and fourth anniversaries of the grant date.
(2) Options granted on 01/28/2005, which vest in four approximately equal annual installments on the first, second, third and fourth anniversaries of the grant date.
(3) Options granted on 12/31/2005, which vest in four equal annual installments on the first, second, third and fourth anniversaries of the grant date.
(4) Options granted on 12/31/2006, which vest in three equal annual installments of 9,375 on the first, second and third anniversaries of the grant date and 2,837 of which vest on the fourth anniversary of the grant date.

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