Prime brokers

Prime brokers say most fund managers have not been participating in so-called 'tasteless trading' in the two weeks following the World Trade Center and Pentagon disaster.

In addition, they report business activity has slowed, with one commenting a 'shed-load' of his meetings had been cancelled in Europe.

London-based Alex Ehrlich, managing director of Goldman Sachs International, says: 'What you have seen so far is a reaction that has been very restrained in terms of trading.' He says trading volu

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