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Mellon Gets Tough On Trading Costs

Traders Magazine, January 2003

Peter Chapman

Top money manager Mellon Private Asset Management, reeling from a steep drop in assets under management, has undertaken an ambitious plan to get its trading costs under control. The investment house in Boston is instituting a comprehensive program to monitor the order-handling practices of its portfolio managers, analysts, traders and brokers. Mellon will systematically measure the costs associated with each trade from the moment a portfolio idea is hatched to its ultimate completion.

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