Capital Markets Research and Development

The Capital Markets Research and Development Department was a new R&D unit that provided analytic, technical, and product development support to the bank's trading and treasury units worldwide.  The department reported to the head of Global Trading and Executive Vice President for Capital Markets and made significant accomplishments for the Bank of America in the following areas:

Introduced networked personal computers to all trading product areas.  Installed 15 dealing room networks, with up to 400 client stations and 40 servers.  Developed 52 real-time microcomputer systems for front-end treasury and trading applications including foreign exchange, fixed income, and derivative securities.

Created new trading instruments that generated annual income of $8 million.

Produced one of the first PC-based systems to access and analyze digital market data services.  Installed the system in 8 locations, and managed up to 23 data feeds per site costing $14 million annually.  System was developed and maintained by staff of 4, making it one of the most cost-effective in the industry.

Created computer-based foreign exchange service for retail customers that produced annual income of $1.7 million.when it was first built and produces over $30 million now.

Recruited and trained one of the best regarded R&D teams off Wall Street.  Maintained staff turnover rates below 5%.  Sustained superior measured morale levels and high productivity, saving 60% to 75% of system development effort compared to traditionally structured development methods.

Charles Marston, Calypso CEO, and several other members of the team at Calypso Technology were part of this group.