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Stock Market & Financial Investment News

News Breaks
December 10, 2012
16:38 EDTBENFranklin Resources reports preliminary AUM $768.8B as of November 30
Compares to $753.9B at October 31, and $675.8B at November 30, 2011.
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April 10, 2014
13:43 EDTBENFidelity to pitch new lost cost trading venue to large asset managers, WSJ says
Fidelity is working on a new trading venue, dubbed "Sakura," that it hopes will be a collaboration among big mutual-fund firms to reduce costs and streamline trading and will be an improvement over other "dark pools," reported The Wall Street Journal, citing people with knowledge of the matter. The report said Fidelity is in the initial planning stages and has just started pitching the idea to other large asset managers. Publicly traded fund managers include BlackRock (BLK), Franklin Resources (BEN) and T. Rowe Price (TROW), while Investment Technology Group (ITG) currently operates dark pools that facilitate block trading among large institutions. Exchange operators Nasdaq (NDAQ) and Intercontinentalexchange's (ICE) NYSE have previously testified to legislators that too much trading occurs in dark pools, hurting investors. Reference Link

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