The prices are not correlated by the exchanges, but there a host of arbitragers out there who will immediately pounce if the prices drift out of line by the slightest fraction, buying on the cheaper exchange while simultaneously selling on the more expensive exchange, and in practice this keeps the prices the same. (money.stackexchange.com)
He wrote a well known book on the nation's elite law firms called The Partners before writing his New York Times best - seller Den of Thieves on Wall Street arbitrager Ivan Boesky and Michael Milken. (hsuuntied.com)
Also, is the portfolio manager considered as a hedger or a speculator here (obviously not arbitrager)? (money.stackexchange.com)