  Bank of America Merrill Lynch loses $10 mln over "operational error" September 23, 2012 - 17:11 AMT PanARMENIAN.Net - Bank of America Merrill Lynch sustained a loss of nearly $10 million due to an "operational error" in handling of stock option trades known as dividend trades by the company's Merrill Pro unit, Reuters reported citing the Wall Street Journal. The unit's clients were not affected and the error has been corrected, WSJ said, citing unnamed sources familiar with the matter. Bank of America Merrill Lynch is a division of Bank of America Corp (BAC.N). Dividend trades involve placing trades a day before shares of a company or exchange traded fund issuer go "ex-dividend," seeking to capitalize on a typical drop in share prices after that date. Trading data released September 21 showed that nearly a quarter of call options on the SPDR exchange-traded fund were not exercised, suggesting a likely error in processing dividend trades in the contracts, the newspaper said.   Top stories Azerbaijani authorities report that they have already resettled 3,000 people in the Nagorno-Karabakh town of Stepanakert. On June 10, Azerbaijani President of Azerbaijan Ilham Aliyev will leave for Turkey on a working visit. Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive.   Partner news |  Latest news Viva sees growing demand for cloud services  In recent years, medical institutions are starting to make use of Viva’s cloud servicesArmenian, German presidents meet in Berlin Armenian and German Presidents Vahagn Khachaturyan and Frank-Walter Steinmeier met in Berlin.Armenia assumes presidency of Mediterranean Network of Regulatory Authorities The Commission on Television and Radio of Armenia said it expects productive cooperation in various formats.Balance of attached cards in the Idram&IDBank app From now on, users will be able to view the online balances of cards issued by ArCa system banks and attached to the app. |
