Banc of America Securities in technology alliance with Microsoft
28 April 2004 | 4559 views | 0
Banc of America Securities' (BAS) Electronic Trading Services (ETS) group is to collaborate with Microsoft to research and develop new trade execution technology under the bank's recently established vendor alliance programme.
The Electronic Trading Alliance is a partnering framework in which BAS works with technology vendors and trading venues to provide integrated solutions for clients. Buy side order management vendor Linedata Services was introduced last week as the first vendor to join the programme.
ETS and Microsoft say they will also work closely with leading third-party application vendors to anchor front-office interoperability.
Rob Flatley, managing director of ETS, says the agreement with Microsoft is an important step in the bank's technology integration effort, aligning the firm with a Web Services technology leader through the .Net platform. ETS' Direct Access offering is also built on the Microsoft Windows platform.
"There are tremendous opportunities for synergies," says Flatley. "The bottom line for our clients will be faster execution of transactions and low-cost, low-hassle integration with plug-and- play connectivity."