Global broker Bank of America Merrill Lynch (BAML) has made its European equity index futures algorithms available to users of trading technology provider TradingScreen’s execution management system (EMS).
TradingScreen clients will now be able to access BAML’s algorithmic trading platform to trade six of the major European index futures (FTSE 100, ESTOXX 50, DAX, CAC 40, AEX and SMI) during London trading hours. The algorithms will complement BAML’s direct market access offering for futures, which is already available on the EMS.
“As an increasing number of clients look to trade electronically, it is very important that we provide access to alternative asset classes that accommodate different requirements and trading styles,” said Yvonne Hansmann, head of EMEA execution sales at BAML, in a statement. “In response to this need, we are very excited to be able to offer algorithmic access to futures products through market-leading execution management systems such as TradingScreen.”
In addition, BAML has extended its transaction cost analysis (TCA) package to cover futures, giving clients performance visibility over their orders in relation to the relevant benchmark. As part of this service, the company’s Consulting Services team will review client orders and suggest possible changes to their futures algorithmic strategy usage, or design bespoke algorithmic solutions to improve performance.
“In recent years, it has become the norm for TradingScreen users to trade more than one asset class algorithmically on the platform,” said Chris Hollands, head of EMEA sales at TradingScreen. “The rollout of Bank of America Merrill Lynch’s algorithmic trading strategies for index futures continues and complements this evolution and provides users with the same intuitive trading ergonomics to which they have grown accustomed in the equity algorithmic domain.”