Bank of America Merrill Lynch, which has developed its own high-performance trading engines for years, today unveiled BofAML Express, a third-party developed low-latency market access and risk control platform for U.S. equities.
The platform is said to deliver sub 10-microseconds of wire-to-wire latency and to provide 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, in a statement. "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, 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.
Bank of America Merrill Lynch provides equity, options and futures trading, sales and research services to mutual funds, hedge funds, broker-dealers, pensions, endowments and other institutions.
