Kidder Resumes Proprietary Index Arbitrage: Kidder, Peabody...
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From Times Staff and Wire Reports
Kidder Resumes Proprietary Index Arbitrage: Kidder, Peabody said it would resume this controversial form of computerized program trading for its own account, but would observe “significant” safeguards aimed at reducing market volatility, such as selling only as the market is rising and buying when it is falling. Kidder thus joins Bear, Stearns among Wall Street firms that have resumed program trading for their own accounts, although several brokerages continue to do it for clients.
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