20 October 2017

Banc of America Securities creates electronic trading unit; hires Macgregor's Flatley; acquires DAFC

24 February 2004  |  6491 views  |  0 trader_1

Banc of America Securities has formed an Electronic Trading Services (ETS) group dedicated to developing software for delivery to the firm's institutional investor clients.

In conjunction with the build-out, Banc of America Securities has hired Rob Flatley, formerly chief operating officer of order management vendor Macgregor, as managing director and head of ETS marketing, support and strategic alliances.

Based in New York, Flatley will report to Peter Forlenza and Ross Stevens, co-heads of the ETS group. Forlenza is the firm's head of cash equities while Stevens is chief operating officer for global equities.

Forlenza says the firm's acquisition of quant-driven broker-dealer Vector last year was a formative step in the creation of ETS and "the foundation on which we are developing leading applications for clients".

She adds: "The formation of ETS ensures dedicated resources within BAS to continually identify and deploy new solutions for clients."

Supplemental: Banc of America Securities late today announced the acquisition of Dallas-based Direct Access Financial Corp (DAFC), a leading provider of direct access trading technology to the institutional brokerage and investor community.

Banc of America's Stevens comments: "This acquisition of DAFC extends our technology platform, and creates an opportunity to win market share in an increasingly important area of the equities business."

Terms of the transaction were not disclosed

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.innotribe.comvisit www.niceactimize.comvisit www.fivedegrees.nl

Who is commenting?

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15924 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
9030 views comments | 16 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
8166 views comments | 13 tweets | 10 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
7200 views comments | 9 tweets | 17 linkedin
Santander InnoVentures leads $6m funding round for Mexico's ePesosSantander InnoVentures leads $6m funding r...
6338 views comments | 6 tweets | 3 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job