28 February 2017
Visit dh.com

Bank of America Merrill Lynch consolidates options trading algos

23 January 2014  |  1300 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 BNP paribas Visit Yelloco.co.uk

Who is commenting?

A Finextra member Finextra Member Commented on: Really really really K...
A Finextra member Finextra Member Commented on: In wake of Cloudflare...

Top topics

Most viewed Most shared
EBA to relax controversial PSD2 authentication rulesEBA to relax controversial PSD2 authentica...
14333 views comments | 53 tweets | 74 linkedin
BNY Mellon seeks blockchain experts for new emerging biz and tech teamBNY Mellon seeks blockchain experts for ne...
8315 views comments | 7 tweets | 4 linkedin
hands typing furiouslyBlockchain Technology
8075 views 1 | 18 tweets | 8 linkedin
Starling releases Open API, talks up marketplace modelStarling releases Open API, talks up marke...
8035 views comments | 19 tweets | 18 linkedin
Barclaycard strikes new wearable deals for contactless jewellery and watchesBarclaycard strikes new wearable deals for...
7415 views comments | 17 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job