The notion of "price" is a deceptively simple one in today's financial environment. Different uses-auditing, risk management and trading-can dictate different price calculation methodologies. It's particularly tricky given today's vast array of investment vehicles and when the price simply doesn't exist in the normally accepted places where it's expected to be found.

It's time the financial industry's vocabulary and approach to risk management became a little more extensive and a lot more precise.

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Insight and analysis into the management, marketing, operations and technology of the asset management industry.