Banc of America Securities creates vendor alliance programme
19 April 2004 | 3970 views | 0
Banc of America Securities' electronic trading unit has established a technology vendor partner programme and announced Linedata Services as its first confederate.
The bank has created the partnering framework to establish embedded links to its electronic trading programs via third-party packages.
Rob Flatley, managing director of BAS' Electronic Trading Services (ETS) says: "Our platform spans a wide range of algorithmic and direct access trading objectives in an anonymous and fully electronic fashion. The Electronic Trading Alliance allows us to build tight integration across that spectrum into existing buy-side desktops, which improves workflow and reduces errors."
He says ease of access and use are key components of the bank's plans to develop and build-out its recently-established electronic trading business.
The agreement with Linedata will provide access to ETS products via the vendor's LongView Trading order management system.
Adds Flatley: "We work proactively with buy-side technology vendors to certify 'plug-and-play' connectivity to our platform through a single point and click."
He says the firm is looking to attract a further ten software vendors to the programme, with the aim of proving a direct line to 1800 buy-side desktops.