RJ and Makay

Last week Bank of America Merrill Lynch formed the Global Futures and Derivatives Clearing Services (GFDCS) Group. The brokerage firm said it formed the initiative in anticipation for the substantial growth in OTC derivatives clearing, and for the tremendous demand for education and related services from the company’s institutional investor and corporate clients.

GFDCS builds off the company’s futures business to provide agent-clearing services for rates, currencies, credit, equities and commodities derivatives. The GFDCS group will operate as part of BofA Merrill’s Global Markets Financing and Futures platform (GMF&F), which includes prime brokerage and services.