What is meant by proprietary trading

Reference no: EM131313459

The following excerpt if from the notes to the financial statements in the 2009 Annual Report of Bank of America (p. 147):

The Corporation enters into trading derivatives to facilitate client transactions for proprietary trading purposes, and to manage risk exposures arising from trading assets and liabilities.

a. What is meant by "proprietary trading"?

Reference no: EM131313459

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