20 October 2017

Brief: Bank of America consolidates securities processing

17 November 2000  |  2061 views  |  0 Brief: Bank of America consolidates securities processing

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.

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