Latest Bank of America News: Finextra Research

Banc of America Securities hails Ambush algorithm

Banc of America Securities (BAS) says its newest equity algorithm, Ambush, which is designed to swiftly execute large orders with minimal market impact, has experienced the fastest adoption rate of any of its seven algorithmic trading strategies.

16 August 2006

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Fixed income dealers to set up LiquidityHub swaps service

A group of ten investment banks have joined forces to form LiquidityHub, a central fixed income pricing aggregator which is initially being introduced for dealer-to-client prices on euro and dollar interest rate swaps and US Treasurys.

14 July 2006

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EDS reports $700m Bank of America contract

EDS has inked a six-year $700 million deal to integrate the communications infrastructure for MBNA Corporation into Bank of America's voice and data network.

26 June 2006

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Banc of America Securities names William Harts head of strategy, equities

Banc of America Securities has appointed William Harts as managing director and head of strategy for equities, with responsibility for design, integration and deployment of technology across the equities platform.

05 May 2006

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Deutsche Bank names BoA's Rob Flatley global head of electronic execution

Deutsche Bank Securities has hired Rob Flatley from Banc of America Securities as a managing director and head of global electronic execution for equities.

02 May 2006

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Bank of America CEO fuels Visa break-away speculation

Bank of America CEO Ken Lewis has confirmed speculation that the West Coast bank is exploring the possibility of leaving Visa and developing its own branded card scheme.

27 April 2006

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Bank of America clocks up 15 million e-banking customers

Bank of America says it now has around 15 million Web banking customers, which amounts to more than a third of the entire online banking market in the US.

12 April 2006

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Bank of America cuts 1900 call centre jobs

Bank of America is closing three US call centres, leading to the loss of 1900 jobs, as it continues to consolidate its operations with the MBNA credit card unit it acquired earlier this year.

11 April 2006

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More US customers switching to Web banking

The number of online banking customers in the US grew to nearly 40 million during the fourth quarter of 2005, a 27% increase over the previous year, according to statistics from Web metrics firm ComScore Networks.

11 April 2006

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Bank of America and S1 win patent infringement suit

A federal jury has ruled in favour of Bank of America and S1 Corporation in a patent infringement lawsuit brought against the two companies by New York trade finance firm TradeCard.

29 March 2006

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Bank of America introduces new online banking alerts

Bank of America is introducing a new alert service that will enable its 15 million Web banking customers to receive account information over their mobile handsets, PDAs or via e-mail.

08 March 2006

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Jefferies raids Banc of America for second time

Investment banking group Jefferies has hired a further seven employees from Banc of America Securities to enhance and grow its electronic trading operations.

01 March 2006

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