Source: EESAT
Financial technology start-up EESAT, today announced that it has added Bank of America Merrill Lynch (BofA Merrill) to its growing client list, with BofA Merrill now giving its own clients a range of EESAT OptEx tools to access opportunities in the highly active Complex Order Space.
Since launching in 2013, EESAT has become a leading provider of transparent single-feed solutions for Complex Order Books (COBs). ESSAT’s recent analysis of exchange volumes has shown that exchanges generate close to 40 percent of their flow in the Complex Order Space, with the majority of trading occurring at mid-market prices.
High levels of COB activity, coupled with growing market fragmentation has led to COB strategies becoming increasingly important for their ability to broadcast across multiple exchanges. The OptEx interface provides traders with effective COB trading tools and the ability to view multiple strategies simultaneously and route orders to an exchange for execution.
BofA Merrill is the latest and largest broker to offer EESAT’s OptEx solution.
Michael Barry, EESAT CEO said that BofA Merrill’s decision to offer OptEx reflects the growing need for firms to provide traders with access to enhanced tools for trading complex orders electronically.
“OptEx’s unique filtering and execution capabilities put actionable spread orders at the trader’s fingertips. Increasingly, firms like BofA Merrill are looking to offer access to enhanced tools to execute a broad range of trading activities and maximize on opportunities.”
“OptEx delivers real-time trading opportunities and the unique ability for users to react and respond to achieve high quality execution,” said Barry.
Gary Hunt from BofA Merrill said that the connectivity with OptEx is part of the firm’s ongoing investment into enhancing its execution capabilities and delivering a comprehensive range of trading tools to clients.
“We are committed to providing bespoke solutions to help our clients find unique opportunities and improve their trading alternatives. We are delighted to integrate OptEx into our suite of trading solutions,” Hunt said.
Benefits of OptEx
• OptEx provides traders with a clean and highly filterable view of exchange complex order books, with point and click trade capability you have the ability to route orders to an exchange for execution via our highly intelligent Order Relay System.
• OptEx puts actionable spread orders at trader’s fingertips. The OptEx interface allows the user to view multiple strategies simultaneously, incorporating Greeks and NBBO tracking.
• OptEx offers a wide variety of benefits for users of all types and has been built to make Complex Order Books both actionable and manageable