Bank of America launches derivatives clearing


Bank of America Merrill Lynch has set up a new global futures and derivatives clearing service, headquartered in New York. The group will be led by Robert Burke, head of over-the-counter derivatives clearing, and Gonzalo Chocano, the bank's global head of futures. They will report to the co-heads of global markets financing and futures, Syl Chackman and Denis Manelski.

The bank says it anticipates "substantial growth in OTC derivatives clearing and tremendous demand for education and related ser

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