Wall Street & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Trading Technology

05:30 PM
Connect Directly
RSS
E-Mail
50%
50%

Bank of America Merrill Lynch Enhances Canadian Algos

Bank of America Merrill Lynch has enhanced its algorithmic trading platform for Canadian equities with several new algorithms available to Canada and other changes to deliver improved execution performance.

Bank of America Merrill Lynch has enhanced its algorithmic trading platform for Canadian equities with several new algorithms available to Canada and other changes to deliver improved execution performance.

Specific enhancements include the introduction of the Instinct algorithm for executing small- and mid-cap names to the Canadian market; the launch of a new Quantitative Implementation Shortfall (QIS) algorithm; improvements to the limit order model and introduction of micro-price logic; and an inter-listed trading engine that analyzes real-time FX rates and consolidated market data for cross border execution and settlement between the U.S. and Canada.

Michael Lynch, head of Americas Execution Services at Bank of America Merrill Lynch, said in a statement, “Investors in Canadian equities are constantly looking for ways to optimize their trading strategies and we are pleased to introduce these enhancements, which are based on detailed quantitative analysis and supported by a dedicated local trading desk.”

Daniel Nachtman, Algorithms Product Manager, added, “Market structure changes in Canada require ongoing development and investment in our algorithmic suite and create opportunities for strategies like Instinct.”

Register for Wall Street & Technology Newsletters
Video
Exclusive: Inside the GETCO Execution Services Trading Floor
Exclusive: Inside the GETCO Execution Services Trading Floor
Advanced Trading takes you on an exclusive tour of the New York trading floor of GETCO Execution Services, the solutions arm of GETCO.