Bank One agreed yesterday to a $90 million settlement of an investigation by regulators into rapid trading in and out of its mutual funds.

Alpha generation platforms focus solely on quantitative investment research rather than the rapid trading of investments.

"These gyrations and rapid trading leave one unsettled," he said.

The employees aided market timing, or the rapid trading of mutual fund shares for short-term gains, the executive said.

The changes come as Janus is struggling to put an examination of rapid trading in its funds behind it.

Putnam's policy said that it would police and prevent anyone from carrying out rapid trading, known as market timing.

The company has said that some rapid trading occurred in its foreign funds.

Such rapid trading is not illegal, but the majority of variable annuities discourage or formally limit the practice.

Are flash crashes caused by instabilities arising from rapid trading?

It also has restrictions on market timing, or rapid trading of shares in mutual funds.