CIBC to Use BofA Algorithms
FRONT PAGE: CYBER-TRADING TECHNOLOGIES
NEW YORK—CIBC World Markets is private-labeling algorithmic trading services from Bank of America (BofA), officials tell DWT.
The deal is the largest of its kind since BofA launched its Algo-Connect private label service last year (DWT, Oct. 18 2004). But CIBC is not the only broker using the Algo-Connect service. "We've got 10 broker dealers who are doing this today," says Rob Flatley, director of electronic trading for BofA.
In fact, CIBC has been live using Bank of America algorithms since Q1
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