Bank of America Merrill Lynch today announced it has been
successfully integrated and certified into Fidessa’s Canadian
trading platform, giving Fidessa’s Canadian clients the opportunity
to access to the BofA Merrill Trader Instinct® suite of trading
solutions for the first time.
BofA Merrill’s Trader Instinct is a global trading and
consulting platform that provides clients access to unique
liquidity and the tools to maximize their trading strategies.
Clients benefit from access to the electronic trading tools and
state-of-the-art infrastructure used by BofA Merrill’s internal
trading desk such as the firm’s crossing product and registered
Alternative Trading System (ATS).
Bill Stein, director of Electronic Trading, BofA Merrill said,
“Through this arrangement, Fidessa’s Canadian clients will now have
the ability to deploy an extensive range of our flagship
strategies, along with the ability to interact with BofA Merrill’s
diverse client flow.
“We have been certified on the Fidessa U.S. platform since 2008,
and this arrangement builds upon our strong track record of working
together. We are delighted to extend the reach and breadth of our
products into the Canadian market through our integration onto the
Fidessa platform.”
Martin Hakker, CEO of Fidessa Canada, added, "We are really
pleased to be able to offer the Trader Instinct suite to our
Canadian client base. We have a strong partnership with BofA
Merrill across the world, and with this integrated offering, we
continue to put the power in the hands of the client."
Fidessa clients in both Canada and the U.S. can now access the
full suite Trader Instinct including:
- Instinct X® – BofA Merrill’s crossing
product and registered ATS. It supports numerous liquidity sources,
offering clients the opportunity to achieve execution consistent
with instructions. Liquidity sources include client algorithmic
orders, high-touch trading desks, private client flows and market
makers.
- Canada electronic trading – trading
across inter-listed stocks with ability to benefit from differences
in trading volumes between U.S. and Canadian exchanges, real-time
FX rates and consolidated market data.
- Algorithmic trading including:
- Instinct flagship strategy, which uses
real-time quantitative signals to react to market conditions in a
range of market caps and conditions.
- Liquidity-seeking strategies for
effectively accessing dark, lit and natural liquidity.
- Schedule-based strategies that aim to
execute an order against industry standard benchmarks such as
arrival price, VWAP and interval volume.
- Instinct ETF for optimal ETF executions
through analyzing liquidity of the ETF and its constituents and
futures to create an execution strategy that access all three
assets
BofA Merrill has been servicing the Canadian market since 1947
and currently has a workforce of more than 600, including 75 in its
Global Markets business. Canadian clients benefit from BofA
Merrill’s global platform and expertise, along with its
multi-award-winning research capability. Canada’s research team
currently covers two-thirds of the Toronto Stock Exchange’s
aggregate market capitalization.
Bank of AmericaBank of America is one of the world's largest
financial institutions, serving individual consumers, small and
middle-market businesses and large corporations with a full range
of banking, investing, asset management and other financial and
risk management products and services. The company provides
unmatched convenience in the United States, serving approximately
48 million consumer and small business relationships with
approximately 4,800 retail financial centers and approximately
15,900 ATMs and award-winning online banking with 31 million active
users and approximately 17 million mobile users. Bank of America is
among the world's leading wealth management companies and is a
global leader in corporate and investment banking and trading
across a broad range of asset classes, serving corporations,
governments, institutions and individuals around the world. Bank of
America offers industry-leading support to approximately 3 million
small business owners through a suite of innovative, easy-to-use
online products and services. The company serves clients through
operations in all 50 states, the District of Columbia, the U.S.
Virgin Islands, Puerto Rico and more than 35 countries. Bank of
America Corporation stock (NYSE: BAC) is listed on the New York
Stock Exchange.
Bank of America Merrill Lynch is the marketing name for the
global banking and global markets businesses of Bank of America
Corporation. Lending, derivatives, and other commercial banking
activities are performed globally by banking affiliates of Bank of
America Corporation, including Bank of America, N.A., member FDIC.
Securities, strategic advisory, and other investment banking
activities are performed globally by investment banking affiliates
of Bank of America Corporation (“Investment Banking Affiliates”),
including, in the United States, Merrill Lynch, Pierce, Fenner
& Smith Incorporated, which is a registered broker-dealer and
member of SIPC, and, in other jurisdictions, a locally registered
entity. Merrill Lynch, Pierce, Fenner & Smith Incorporated and
Merrill Lynch Professional Clearing Corp. are registered as futures
commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates: Are
Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
BofAML Instinct XBank of America Merrill Lynch (BofAML) operates
Instinct X, an Alternative Trading System (ATS) in the U.S. and as
a Broker Crossing Network (BCN) in other geographies. BofAML
seeks to operate its ATS/BCNs in accordance with applicable
regulations, and in accordance with reasonable expectations of
fairness. However, potential execution counterparties in
BofAML's ATS/BCNs and in external venues may have trading
objectives and/or expectations that may be adverse to your own, and
so execution outcomes may vary. BofAML makes no guarantee as
to the performance that can be achieved through the use of its ATSs
or BCNs. The Instinct X ATS/BCN operates on a
price/capacity/time priority, with any BofAML principal capacity
orders yielding to client orders at an equal price.
Within its own ATSs and BCNs, BofAML may offer a variety of
crossing services that support a segmentation and/or tiering model
to enhance client choice regarding the nature of potential
counterparties with whom they may execute. Where it does so, BofAML
will use reasonable efforts to adhere to your expressed preferences
regarding the use of different crossing services, to assign clients
to the appropriate segment and to maintain those assignments, and
to adhere to your expressed preferences regarding interaction with
participants in such segments. While BofAML will use
reasonable efforts in this context, it makes no guarantee as to
accuracy or consistency of the composition of any segmentation
assignment, which may be based in part on BofAML’s understanding of
information supplied by others.
BofAML Routing and Order HandlingIn the absence of instructions
to the contrary, or depending upon your expressed preferences, the
particular BofAML routing strategy or algorithm that you may elect
to employ, or that is employed on your behalf, and as part of
BofAML’s services seeking the most efficient and effective
experience for client orders, your orders may be given an
opportunity to interact with any resident non-displayed orders in
one of BofAML's own ATSs or BCNs, which may include BofAML
principal trading interest, prior to being exposed to external
venues. External venues may include but not be limited to public
exchange markets, multi-lateral trading facilities, other ATSs or
BCNs, or broker-dealers, (such routing appropriate to each BofAML
region) consistent with your instructions or BofAML's routing logic
as applicable. While BofAML maintains relationships and
connectivity to a variety of such venues as part of its routing
processes, BofAML does not represent that it has access to all such
venues that potentially may be available at any given point in
time. To the extent that this document references performance
times, such information is indicative and attempts to illustrate
the performance speed and latency generally associated with certain
systems, order/message paths, and linkages. Actual performance may
be different and, in some cases, materially slower than
indicated.
Additional Disclaimers and Information: This document is
provided to you solely for informational purposes by Bank of
America Merrill Lynch and is designed to serve as a general summary
of the trading services and products that Bank of America Merrill
Lynch may offer from time to time. This document is not
research and it was not prepared or reviewed by employees within
the Bank of America Merrill Lynch Research department. This
document is not intended to constitute advertising or advice of any
kind, and it should not be viewed as an offer or a solicitation to
buy or sell securities or any other financial instrument or
product. Bank of America Merrill Lynch makes no representation,
warranty or guarantee, express or implied, concerning this document
and its contents, including whether the information (which may
include information and statistics obtained from third party
sources) is accurate, complete or current. The information in this
document is provided “as is,” is subject to change at any time, and
Bank of America Merrill Lynch has no duty to provide you with
notice of such changes.
Bank of America Merrill Lynch will not be responsible or liable
for any losses, whether direct, indirect or consequential,
including loss of profits, trading losses, damages, costs, claims
or expenses, relating to or arising from your reliance upon any
part of this document. Before determining to use any service or
product offered by Bank of America Merrill Lynch, you should
consult with your independent advisors to review and consider any
associated risks and consequences. This document has been prepared
without regard to the specific investment objectives, financial
situation and needs of any particular recipient. Bank of America
Merrill Lynch does not render any opinion regarding legal,
accounting, regulatory or tax matters.
Trader Instinct, Instinct X, Instinct are trademarks of Bank of
America Corporation, registered in the U.S. and other countries. ©
2015 Bank of America Corporation.
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Reporters May Contact:Kristen Kaus, Bank of America Merril
Lynch, 1.646.556.0999kristen.kaus@bankofamerica.com
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