BofA Merrill's FX Clearing Brokerage Service Available on FXall's Order Book
Bank of America Merrill Lynch (BofA Merrill) will become a clearing broker on FXall’s Order Book platform. The Order Book platform is an anonymous over-the-counter (OTC) electronic communications network (ECN) for spot foreign exchange (FX) execution.
FXall’s Order Book delivers deep liquidity from diverse natural counterparty interests and gives institutional clients access to advanced trading strategies to manage their risk and control their costs of trading. BofA Merrill’s FX trading clients can now leverage integrated access to FXall’s Order Book, in addition to its global multi-bank execution platform.
“Our clients are always looking for the latest tools and functionality for their FX trading strategies. We are pleased to expand our existing relationship with FXall, which is a great partner to deliver the full range of pricing and trading capabilities, including spot, swap, forward and NDF [non-deliverable forward] products. We believe our clients will benefit greatly from expanded access to the FXall Order Book,” said Tony Dalton, global head of FX prime brokerage at BofA Merrill.