Bank of America Merrill Lynch Enhances InstaQuote® Trading Platform

NEW YORK--(BUSINESS WIRE)-- Bank of America Merrill Lynch today unveiled enhancements to InstaQuote^®, the company’s award-winning execution management system (EMS) for trading equities, options and futures. The platform now offers clients access to the firm’s premium algorithmic trading strategies, ETF-aXe and Pairs.

“With a full suite of trading strategies, InstaQuote^® users can now analyze, build and assess complex orders more efficiently,” said Clayton Meadows, head of InstaQuote^® at Bank of America Merrill Lynch. “With the addition of algos such as ETF-aXe, clients can access multiple asset classes in one trade while providing the opportunity for price improvement.”

Users now have access to two innovative algorithmic trading strategies previously introduced by BofA Merrill:

• ETF-aXe – this ETF-specific algorithm analyzes market depth and price data across an ETF's underlying portfolio to identify the most efficient combination of ETF, stock and futures, then automatically trades them to source liquidity and find the best prices.
• Pairs– this pairs trading algorithm for equity securities enables clients to quickly and easily implement market neutral strategies utilizing BofA Merrill’s infrastructure and technology to access primary liquidity sources and provide low latency execution.

In addition, with many customization options, traders can configure workflow patterns that allow faster and easier order entry and monitoring.

“We think clients will immediately see the improved functionality that InstaQuote^® now offers and find significant value in having access to the same sophisticated trading technology that our internal desk uses,” said Meadows.

InstaQuote^® was ranked as one of the top two electronic options trading systems by firms participating in the 2010 U.S. Electronic Options Trading Report from the TABB Group.

Bank of America Merrill Lynch is a leading global provider of equity, options and futures trading, sales and research services to mutual funds, hedge funds, broker-dealers, pensions, endowments and other institutions. Its award-winning algorithmic trading platform was ranked as one of the top three providers of algorithmic trading in The Trade’s 2010 Algorithmic Trading Awards.

Bank of America

Bank 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 57 million consumer and small business relationships with more than 5,800 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 million active 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 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and 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 members of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.

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Reporters May Contact:Kerrie McHugh, Bank of America Merrill Lynch, 1.646.855.3375
[email protected]

Source: Bank of America