Bank of America today acquired trading firm Financial Labs LLC, confirmed Melissa Fox, a Bank of America spokeswoman. Terms were not disclosed. Financial Labs focuses on developing trading algorithms for foreign exchange; Ms. Fox said Bank of America would leverage the firm's expertise across asset classes. Aaron Sokasian, CEO of Financial Labs, will become a principal at Bank of America. Financial Labs' team of mathematicians and astrophysicists will join Bank of America.
Bank of America today acquired trading firm Financial Labs LLC...
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