BankAmerica Corp. plans to eliminate as many as 150 positions in its exchange-traded futures business, a move that could foreshadow further cutbacks internationally.

The $595 billion-asset banking company broke the news to brokers this week at trading offices in London, Singapore, Hong Kong, Tokyo, and Chicago, according to a spokeswoman. The company would be left with about 50 people in futures clearing activities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.