Fidelity's Glitch Reveals Fund Price Reporting Risks

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WITH investment management firms' price-reporting systems pushed to the limit by the rapid growth of the mutual fund market, many buy-side technologists felt a chill of mortality--or fallibility at least--when they read about Fidelity Management & Research Co.'s humiliating price-dissemination snafu late last month.

Fidelity sent erroneous mutual fund prices to the National Association of Securities Dealers (NASD) on June 17, causing inaccurate prices to be published--not to mention a heavy b