Bank said that the updated platform will provide clients access to the its premium algorithmic trading strategies, ETF-aXe and Pairs.
According to the bank, ETF-aXe, the ETF-specific algorithm analyzes market depth and price data across an ETF’s underlying portfolio to identify the most efficient combination of ETF, stock and futures, then automatically trades them to source liquidity and find the best prices.
The Pairs trading algorithm for equity securities will enable clients to quickly and easily implement market neutral strategies utilizing BofA Merrill’s infrastructure and technology to access primary liquidity sources and provide low latency execution.
Bank of America Merrill Lynch head of InstaQuote Clayton Meadows said that with a full suite of trading strategies, InstaQuote users can now analyze, build and assess complex orders more efficiently.
"With the addition of algos such as ETF-aXe, clients can access multiple asset classes in one trade while providing the opportunity for price improvement," Meadows said.
In addition, using customization options, traders can also configure workflow patterns that allow better order entry and monitoring.
