February 2006 - BoA builds algorithmic forex capabilities
REVIEW OF THE YEAR
The firm had been a significant player in the rapidly growing alternative trading industry, specialising in automated, algorithmic trading in high-frequency finance. It was one of the first proprietary trading firms to be permitted to operate on EBS and Reuters.
The deal was structured as a purchase of selected assets by BoA, including all those related to its trading. It includes a six-strong team of mathematicians and astrophysicists, that form a new team at the bank. This team is being headed
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