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Merrill Lynch offers algorithmic trading services via Macgregor XIP

27 October 2004  |  1273 views  |  0 Source: Merrill Lynch

Merrill Lynch announced an agreement today to make ML X-ACT, the firm's proprietary algorithmic and computer-based equity trading service, available through Macgregor's order management network, Macgregor XIP.

ML X-ACT is a powerful, integrated algorithmic trading platform that delivers efficiency and cost control by enabling institutional investor clients to tailor trades to meet specific benchmark, risk and cost objectives. Developed internally by Merrill Lynch using extensive qualitative research and historical data, ML X-ACT's models are continuously fine-tuned to respond to real-time market data, emerging market structures, benchmark-relative performance and execution costs.

"This is a key partnership, allowing our clients to easily tap into ML X-ACT's dynamic suite of algorithm-based strategies via the Macgregor desktop. Expanding access is a priority for Merrill Lynch and we're thrilled to have Macgregor as an integrated solution," said Mike Stewart, managing director and head of global portfolio and automated trading at Merrill Lynch.

"Our clients are always looking for ways to achieve best execution and are excited to gain direct access to Merrill Lynch's algorithms knowing that it will help them achieve their objectives," said Stephen Alepa, executive vice president at Macgregor. "They also know that access to ML X-ACT will be highly reliable, efficient and any new strategies or tactics added by Merrill Lynch will become immediately available through the XIP order management network without the need for an upgrade."

ML X-ACT is part of Merrill Lynch's suite of premier execution services, including capital commitment and block trading, portfolio trading and analytics and direct market access.

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