  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. Partner news  Top stories Nuland, a career foreign service officer who was until recently State's top spokesperson, was expected to be nominated the post. Alkhatib said Assad should respond within 20 days and that he should then be given a month to dissolve parliament. Bağış said Istanbul’s unique status as a “peaceful coexistence of all cultures and religions” makes it a vital player in the EU. The agent shot in self-defense in the incident, which occurred at Todashev's house, the law enforcement source said.   Partner news |  Latest news Allison Williams, Emilia Clarke to star in Romeo & Juliet rethink “Rosaline”  Adapted from Rebecca Serle's novel the film retells the story from the perspective of Romeo's jilted first love Rosaline.Yerevan to host PACE Standing Committee meeting May 31 After the opening of the meeting by PACE President, the Speaker of the Armenian National Assembly will address participants.Muse to play free London show after Brad Pitt’s “World War Z” premiere The concert will take place on Sunday, June 2 and 15,000 tickets will be made available for the event.Artsakh defense army command staff exercises end in Martakert President Sahakyan stressed the combat readiness of Artsakh defense among key factors in the country’s security and state building. |
