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Bank of America Merrill Lynch Adds U.S. Electronic Options to CSA Program



  Bank of America Merrill Lynch Adds U.S. Electronic Options to CSA Program

               Hires JP Xenakis to Support Institutional Demand

Business Wire

NEW YORK -- December 10, 2012

As the use and popularity of options continues to grow, Bank of America
Merrill Lynch is pleased to announce the addition of U.S. electronic options
to the firm’s Global Commission Management (GCM) platform. This fully
automated and integrated offering facilitates another payment avenue for
clients who use BofA Merrill’s leading research, execution tools, and
commission management platforms.

“This is a natural progression that marries our low touch options execution
and commission management platforms,” said Bill O’Connor, director, Global
Commission Management. “With the addition of this product, we’re responding to
institutional demand with a seamless offering allowing clients to capitalize
on our robust options execution capabilities.”

To support the growth and demand in this space from institutional clients,
BofA Merrill has hired JP Xenakis as director of electronic options sales. He
will liaise with the Global Commission Management sales team to introduce the
new offering into the marketplace. Xenakis joins BofA Merrill from Barclays
where he was head of electronic options trading distribution. Prior to that,
he was in electronic options sales at Goldman Sachs.

With more than 600 clients globally, BofA Merrill’s GCM platform is one of the
largest service providers in the commission management space and allows asset
managers access to BofA Merrill’s global trading infrastructure across high
and low touch channels. BofA Merrill was rated as the No. 1 GCM provider by a
higher number of Greenwich Universe asset managers than any other firm.

BofA Merrill is a leading global provider of equity, options and futures
trading, sales and research services to mutual funds, hedge funds, CTAs,
broker-dealers, pensions, endowments and other institutions. The bank was
recently ranked first for share of options and volatility commissions in the
2012 Greenwich Associates North American Equity Derivative Survey. It also
ranked in the top three for U.S. Equity Trading Share and Electronic
Penetration in the 2012 Greenwich Associates Survey. Additionally, BofA
Merrill was named Best Equity Bank in North America in 2012 by Global Finance
and Best Broker-Dealer for Equities by Wall Street Letter in 2012.

Bank of America

Bank of America is one of the world's largest financial institutions, serving
individual consumers, small- and middle-market businesses and large
corporations with a full range of banking, investing, asset management and
other financial and risk management products and services. The company
provides unmatched convenience in the United States, serving more than 55
million consumer and small business relationships with approximately 5,500
retail banking offices and approximately 16,300 ATMs and award-winning online
banking with 30 million active users. Bank of America is among the world's
leading wealth management companies and is a global leader in corporate and
investment banking and trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the world. Bank
of America offers industry-leading support to more than 3 million small
business owners through a suite of innovative, easy-to-use online products and
services. The company serves clients through operations in more than 40
countries. Bank of America Corporation stock (NYSE: BAC) is a component of the
Dow Jones Industrial Average and is listed on the New York Stock Exchange.

“Bank of America Merrill Lynch” is the marketing name for the global banking
and global markets businesses of Bank of America Corporation. Lending,
derivatives, and other commercial banking activities are performed globally by
banking affiliates of Bank of America Corporation, including Bank of America,
N.A., member FDIC. Securities, strategic advisory, and other investment
banking activities are performed globally by investment banking affiliates of
Bank of America Corporation (“Investment Banking Affiliates”), including, in
the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated and
Merrill Lynch Professional Clearing Corp., both of which are registered as
broker-dealers and members of FINRA and SIPC, and, in other jurisdictions, by
locally registered entities. Merrill Lynch, Pierce, Fenner & Smith
Incorporated and Merrill Lynch Professional Clearing Corp. are registered as
futures commission merchants with the CFTC and NFA. Investment products
offered by Investment Banking Affiliates: Are Not FDIC Insured • May Lose
Value • Are Not Bank Guaranteed. ©2010 Bank of America Corporation

Visit the Bank of America newsroom for more Bank of America news.

                            www.bankofamerica.com

Contact:

Reporters May Contact:
Kerrie McHugh, Bank of America Merrill Lynch, 1.646.855.3375
kerrie.mchugh@bankofamerica.com
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