23 January 2018
visit www.ebaday.com

Bank of America Merrill Lynch consolidates options trading algos

23 January 2014  |  1429 views  |  0 Source: Bank of America Merrill Lynch

In an effort to simplify its electronic options trading platform, BofA Merrill has consolidated its options algo offering into four best-of-breed strategies: Clean Sweep, Fast Sweep, Delta-Adjusted and Smart Spreads.

The strategies have incorporated more flexibility while minimizing complexity and allow for full customization.

"Options traders are looking for sophisticated strategies without all the intricacies on the front-end," said Jonathan Werts, head of Electronic Derivatives. "In response, we've revamped our algo offering by reducing parameter complexity and streamlining the process, making strategy selection more intuitive for traders."

Clean Sweep and Fast Sweep are liquidity-seeking algos that leverage the best of both worlds: smart posting logic and aggressive liquidity capture. Delta-Adjusted is the firm's adaptive algorithm that allows an order to dynamically update according to order level parameters and the changing market. And finally, Smart Spreads is the multi-legged strategy that intelligently moves spread orders among multiple exchange complex order books in an effort to maximize fill rates.

By simplifying its offering, BofA Merrill provides more flexibility to traders by merging the functionality of several algorithms into four core strategies. Traders will no longer have to choose one capability at the expense of another; rather they will be able to combine complimentary functions.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.thomsonreuters.infovisit www.ebaday.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Banks shift priorities toward growth, digitisation and innovation - surveyBanks shift priorities toward growth, digi...
9515 views comments | 38 tweets | 48 linkedin
Standard Chartered establishes fintech innovation and investment unitStandard Chartered establishes fintech inn...
9278 views comments | 14 tweets | 14 linkedin
BofA leads on blockchain patentsBofA leads on blockchain patents
9024 views comments | 12 tweets | 12 linkedin
Sbanken opens developer portal and invites customers to build their own digital bankSbanken opens developer portal and invites...
8383 views comments | 17 tweets | 11 linkedin
Metro Bank joins digital revolution with instant online account openingMetro Bank joins digital revolution with i...
6969 views comments | 13 tweets | 25 linkedin

Featured job

Competitive
New York, NY - USA (some flexibility on location)

Find your next job