Merrill Lynch Launches Facility To Trade Odd-Lot Treasuries
PROPRIETARY EXECUTION
Some customers of Merrill Lynch Government Securities Inc. have begun executing trades in odd lots of U.S. Treasury securities with the primary dealer via their Bloomberg Financial Markets terminals. The system has been in use by at least one customer for two months, although Merrill Lynch hasn't received an official go-ahead in the form of a no- action letter from the Securities and Exchange Commission.
A similar automated execution system for Treasury odd lots from Daiwa Securities America Inc
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