09-18-2009 | Source: emii.com

BlackRock is investing in technology to lower the billions of dollars it pays in commissions and trading fees, said its CEO, Larry Fink, Bloomberg reports. The fees the New York-based asset manager pays out each year add up to less than $10 billion, he added.

BlackRock is developing a global trading network, which will enable it to buy and sell more securities for customers. As markets recover, more competitors will offer trading and lending services, which will help reduce costs, said Fink.

For the complete story, click here.