Bank of America Merrill Lynch
Bank of America Merrill Lynch (BAML) offers MLXN, a broker crossing network that combines a broad range of institutional clients, hedge funds, family offices, wealth management and broker/dealers from around the globe to provide natural crossing opportunities.
Functionality and order types
MLXN allows clients to cross with other types of flow within BAML.
Access and participation
MLXN can only be accessed as part of BAML”s algorithmic trading suite or smart order router, which is provided to clients and internal sales and portfolio traders. Unless specifically opted out, all algo flow has the opportunity to cross within MLXN, subject to rules and restrictions chosen by clients.
MLXN only offers equities trading. The firm says its global footprint across corporate and investment banking, advisory, prime brokerage and execution services brings together clients trading various strategies across a broad universe of listed securities.
BAML”s anti-gaming and pinging logic is a combination of volatility based limits, ping detection and order segmentation logic. Protections include ongoing enhancements to liquidity seeking algorithms.
MLXN does not have any liquidity sharing agreements