Merrill Goes Live With Reuters Automated Foreign Exchange Platform
Merrill Lynch has installed Reuters automated FX dealing platform, Reuters Electronic Trading – Automated Dealing (RET-AD). Merrill is the first bank to go live with the automated dealing platform, following its acquisition of AVT Technologies. Under the agreement, Merrill is using Reuters dealing platform to provide its global customers with automated FX prices and trading capability. This will allow Merrill’s financial institutions, banks, corporate and retail brokerage network customers to conduct FX trades electronically whether they access Merrill through a multi-bank portal such as FXall or Currenex, or through Merrill’s single dealer institutional portal MLX. Merrill has also licensed the RET-AD trading technology, or application programme interface (API), which allows their retail brokerage network to conduct FX trades and interface electronically with their clients.