Bank of America Merrill Lynch unveils trading platform

Source: Bank of America Merrill Lynch

Bank of America Merrill Lynch today unveiled BofAML Express, the firm's next generation ultra low-latency market access and risk control platform for U.S. equities.

The platform delivers sub 10-microseconds of wire-to-wire latency and provides an embedded series of risk controls required by recent SEC regulation.

"In this highly competitive environment, having the premiere trading platform is imperative as the market adapts to new regulation," said Michael Lynch, head of Americas execution services. "While we've deployed pre-trade risk checks for some time now, BofAML Express gives our clients an edge by compressing latency to levels unimaginable just a short time ago without compromising any controls. Since its production debut, we've seen rapid client adoption and increasing volumes demonstrating the continued client demand for high performance trading platforms."

The platform, initially developed by Thesys Technologies, currently connects to all major U.S. equity exchanges. Additionally, the parties have entered into a strategic arrangement to leverage the core technology offering for other electronic trading opportunities across asset classes and markets spanning Europe and Asia.

Comments: (1)

A Finextra member
A Finextra member 21 July, 2011, 17:08Be the first to give this comment the thumbs up 0 likes

I read with interest that about Bank of America Merrill Lynch lis aunching an extremely low latency market access product.

If the times being quoted (sub-10 microsecond), are to be believed then this is setting an incredible standard. What is more alarming is that it seems to come with a set of risk controls to meet SEC standards. This is surely the next step in the race-to-the-top to capture client flows.

One may ask however, what does this look like if the suggested FTT (trading tax) is brought in, or the regulators put some sort of throttle on HFT? Does it become a pyrrhic victory?