CHARLOTTE, N.C. - Bank of America's global corporate investment banking arm signed a multiyear contract with ADP Brokerage Services Group for a processing system to support its global securities business.

ADP Brokerage, a division of Automatic Data Processing Inc., will help the Bank of America global unit consolidate its currency trading support system.

The consolidation could potentially save 20% of the unit's security processing costs.

ADP Brokerage provides systems for securities processing, desktop productivity, and investor communication services.

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.