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Bank of America Merrill Lynch (BAML) is to become a clearing broker on FXall's order book platform, an anonymous over-the-counter (OTC) electronic communications network (ECN) for spot FX execution.
FXall's order book delivers liquidity from counterparty interests and gives institutional clients access to trading strategies to manage their risk and control their trading costs.
BAML foreign exchange trading clients can now leverage integrated access to FXall's Order Book, in addition to its global multi-bank execution platform.
Phil Weisberg, CEO of FXall says increasingly sophisticated institutional users are responding to the rapidly changing market structure by adapting new execution strategies and prefer venues that support numerous execution alternatives.
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