Subject: Who Provides the Low ' ? From: "Institutional Investor" Sent: Thursday, November 3, 2011 4:53:56 PM To: [email protected]" <[email protected]> Transaction Costs Analy sun It s tough for an investor to make a buck in these straitened times. Which makes trading costs all the more important. In Institutional Investor s 15th annual =purvey of trading costs, the broad results show that brokerages having been combining high-tech trading tools with a human touch to reduce transaction expenses. And in this year s ranking we present all of our data in a range of tables analyzing and ranking the lowest costs on transactions in the U.S. and Europe. See our story below for the full list of tables. Top Stories Thursday, November: Who Provides the Lowest Transaction Costs? In Institutional Investors 15th annual survey of trading costs, the broad results show that brokerages having been combining high-tech trading tools with a human touch to reduce transaction expenses. EFTA_R1_00030179 EFTA01740700

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