Tony Walker, Managing Director, European Execution Services at Bank of America Merrill Lynch, said “We are committed to providing the fastest possible DMA infrastructure for our clients and we are delighted to add AlgoSpan."
London / New York (PRWEB UK) 24 April 2013
AlgoSpan, the specialist market infrastructure provider, is pleased to announce that Bank of America Merrill Lynch has gone live with AlgoSpan’s European low latency exchange market access platform, “AlgoNet’.
From January 2013 Bank of America Merrill Lynch clients have been able to access AlgoSpan’s low latency pan-European inter-exchange network, including co-location at all major venues.
Dr Rami Habib, co-founder and director of AlgoSpan quotes “It’s not only HFT firms that are looking to enhance execution quality by faster access to markets, and high quality and low latency market data. We are seeing large hedge funds and money managers that in the past were not so focussed on low latency execution now investing heavily in research and development to optimise execution and reduce slippage. Good quality DMA access is the first point of this research. Bank of America Merrill Lynch, being a leading global DMA provider, is now able to offer exchange access across the AlgoSpan low latency European network as one of Bank of America Merrill Lynch’s key infrastructure providers.”
Tony Walker, Managing Director, European Execution Services at Bank of America Merrill Lynch, said, “We are committed to providing the fastest possible DMA infrastructure for our clients and we are delighted to add AlgoSpan as one of our infrastructure providers."
Notes to editors
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 53 million consumer and small business relationships with approximately 5,500 retail banking offices and approximately 16,300 ATMs and award-winning online banking with 30 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 3 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 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 FINRA and SIPC, and, in other jurisdictions, a locally registered entity. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.
Copyright 2013 Bank of America Corporation. All rights reserved. Bank of America, Merrill Lynch, Broadcort and their logos are trademarks of Bank of America Corporation and/or its affiliates.
AlgoSpan provides end-to-end trading infrastructure and real-time market data services to financial services firms operating low latency / high frequency trading strategies – proven to bring direct improvements to bottom-line trading performance. AlgoSpan’s trading infrastructure (branded AlgoNet) underpins all customer solutions, including delivery of its multicast normalised and raw exchange data (branded AlgoData). For more information visit http://www.algospan.com