Epstein Secrets

EFTA00742476 11, 2010: 2pm - 4pm 500 Index 1,160 1,150 1,140 1,130 1,120 1,110 1,100 1,090 1,080 1,070 1,060 2:00 PM 3:00PM Source: Bloomberg. HFT firms account for a growing share of all trades %of all trading activity 70% - 60% - 50% - 40% • 30% - 20% - 10% 0% 4:00 FM 2003 20

d minimum quote controls on HFTs are even more important for the marketplace. (c) The proliferation of so-called "dark pools" such as LiquidNet and Pipeline reflect a desire by institutional investors to avoid detection by HFT algorithms. This may lead to greater market fragmentation. Sources "Unintend

owing cash. PAORGAN STANLEY RESEARCH NORTH AMERICA _LC Matthew Harrison r12 714 62:» David Friedman, Key Ratios and Statistics Reuters: BUB.0 Bloomberg: BIIB US Biotechnology / United Stales of America Shr price. close (Jul 22. 2014) $303.67 Mkt cap. curt (mm) $72.313 52-Week Range 5358.89-203

ort. EFTA00598607 Morgan Stanley MORGAN STANLEY RESEARCH July 23. 2014 Brogan Idec Inc. Risk-Reward Snapshot: Biogen Idec (BIIB, OW, PT $395) Pipeline. Tecfidera and Hemophilia Drive Risk-Reward $50200 (.651.4) 339300(.30W • 200 100 oisaissassisLiamirisaiiiissi JtS12 Jan-I3 Jul.13 Jen-I4 J

Associated Press, NBC News, Fox News Trump Administration Sues to Oust Corporation for Public Broadcasting Board Members Reuters, Washington Post, Bloomberg, Fortune House NDAA Draft Mandates Database of Contractors Used in Covert Operations NextGov Waltz Brushes off SignalGate Questions, Points Finger

of California to be Administrator of the National Highway Traffic Safety Administration and Paul Roberti of Rhode Island to be Administrator of the Pipeline and Hazardous Materials Safety Administration both of the Department of Transportation. — 10:00 AM — Host: Commerce, Science, and Transportation • T