This article appears courtesy of Institutional Investor
Source: Wall Street Letter
Veronica Belitski
Wachovia Securities , the third largest brokerage by assets, has moved its new proprietary trading unit off the equity trading desk in a bid to prevent the perception of front-running and conflicts of interest, traders at the firm said. Although the move affects only about a dozen Baltimore-based traders, it is one of the first big brokerages to install internal controls on trade execution information.
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