Direct Edge announced today that it has re-signed a long-term contract with Bank of America Merrill Lynch's Broadcort division.
Direct Edge has been using Broadcort's clearing services since 2005.
"Maintaining our clearing relationship and strategic partnership with Broadcort will help Direct Edge further build our business," said William Karsh, Chief Operating Officer of Direct Edge. "Even after we make the conversion to exchange status, routing, which requires clearing, will continue to be a critical part of the value proposition of many of our products and services. We look to Broadcort to provide efficient solutions that bolster our competitive position."