Bank of America Merrill Lynch, a recognized leader in global treasury solutions, today announced significant enhancements to its online liquidity management and investment order capability. Corporate and commercial clients can now utilize CashPro® Invest to enter orders and obtain information and reporting for U.S. dollar denominated money market mutual funds and other short-term investment products. Clients also now have access to extensive research available on money market mutual funds.
CashPro Invest is integrated with CashPro® Online, the bank’s next-generation treasury management portal, meaning clients have a one portal solution using a single sign-on to navigate to virtually all of their treasury, credit and investment applications.
“Through CashPro Invest, our clients can quickly and easily enter money market mutual fund and other short-term orders online with streamlined navigation and robust security features,” said Fred Berretta, Global Liquidity Investment Solutions executive for Bank of America Merrill Lynch. “They can also manage orders within their own company defined investment policy rules. In addition, they have fast and flexible access to virtually all of their investment account information as well as a significant amount of mutual fund research, all from one online location.”
CashPro Invest will eventually replace two existing Bank of America Merrill Lynch online investment applications, Connection and MoneyMarkets Express.
“CashPro Invest is a key value-add for our clients who utilize CashPro Online for their daily investment activities,” said Cindy Murray, head of Global Treasury Product Infrastructure, Platforms and eCommerce for Bank of America Merrill Lynch. “This fully integrated investment access is just the latest in a series of additional CashPro Online functionality we’ve made available to our clients recently, enabling them to now handle their banking needs more easily, efficiently and effectively.”
New short-term liquidity products available through CashPro Invest include Bank of America, N.A. certificates of deposit, repurchase agreements and federal funds, among others. U.S. dollar denominated money market mutual funds available through CashPro Invest are offered through Merrill Lynch, Pierce, Fenner & Smith Incorporated.
Bank of America Corporation
Bank of America Corporation 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 through its many subsidiaries. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,800 ATMs and award-winning online banking with 30 million active users. Bank of America Corporation 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 Corporation offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company and its subsidiaries serve 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.
Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”), incorporated in 1958, is registered as a U.S. broker-dealer with the Securities and Exchange Commission ("SEC") and is a member of the Financial Industry Regulatory Authority ("FINRA"), and various exchanges. MLPF&S is a primary dealer in U.S. Government securities and is engaged in securities brokerage, trading and underwriting; investment banking, strategic services, including mergers and acquisitions, and other corporate finance advisory activities; origination, brokerage, dealer and related activities in swaps, options, forwards, exchange-traded futures, other derivatives and foreign exchange products; securities clearance and settlement services and investment advisory and related record keeping services. MLPF&S is a member of the Securities Investor Protection Corporation ("SIPC").
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, which is a registered broker-dealer and member of FINRA and SIPC, and, in other jurisdictions, locally registered entities.
Investment products offered by Investment Banking Affiliates:
Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Copyright 2011 Bank of America Corporation.
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Contacts:
Will Wilson, Bank of America Merrill Lynch,
1.980.388.3360
will.wilson@bankofamerica.com
