Brief: Bank of America consolidates securities processing
17 November 2000 | 2022 views | 0
Bank of America's global corporate and investment banking division has signed a multi-year contract with ADP Brokerage Services Group for a newly developed back office securities processing system.
The West Coast bank plans to consolidate its worldwide, multi-product and multi-currency trading operations on the system. The consolidation effort will result in a potential 20% saving on securities processing costs, says the bank.