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Commentary

EDITOR'S LETTER
Tom Steinert-Threlkeld

Trading Through

The mispriced transactions totaled 442,600, from October 2008 through the start of this year. The amount owed customers for the mistakes was $420,360. Less than a buck a trade. On a 200-share trade, that equals less than 3 cents each.

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Photo Gallery January 1, 2003

Board of Governors

STA th Annual Conference and Business Meeting

<p>Front Row: Nick Karos, U.S. Bancorp Piper Jaffrey, Minneapolis; Lisa Utasi, Smith Barney Asset Mgmt.; Michael Bird, Merrill Lynch, both New York; Bill Yancey, Automated Trading Desk, Mt. Pleasant; James Duncan, Canaccord Capital , Toronto; John Giesea, STA President; Dean, Sharon Smith, Fordham University; both New York; Jan Pitman, Roger Engemann & Assoc., Pasadena; Michael Wolk, Foley & Lardner,</p><p>Washington D.C.; Back Row: Mary McDermott-Holland, Franklin Portfolio Associates, Boston; Bart Green, A.G. Edwards, St. Louis; Drew Milstein, Susquehanna International Group, Bala Cynwyd; Jim Toes, Merrill Lynch, New York; Jack Hughes, Janney Montgomery Scott, Philadelphia; Pete Driscoll, Northern Trust Company, Chicago; Walter Dolengo, STA, New York; John Barone, William Blair, Chicago; Mark Madoff, Bernard L. Madoff Investment Securities, New York.</p>

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