Bank of America Merrill Lynch announced Monday it launched electronic FX options trading capabilities for institutional and corporate clients.
The platform, which allows clients to obtain two-way dealable prices and execute trades live or with delta exchange, is a component of BofA Merrill’s overall eFX offering.
The company said that the new options capabilities allow clients to trade “vanilla” options and “vanilla” strategies on G10 currencies and crosses globally 24 hours a day, six days a week. The system is closely integrated with the spot- and forward-trading capabilities provided on the same platform, and includes a unified trade blotter for spot, forwards and options.
BofA Merrill said that the platform is different than competitors because it gives electronic access through its API.
“The FX options market has seen an increased demand for electronic trading capabilities, both via desktop applications and via API,” said Richard Elliott, BofA Merrill’s head of eFX options trading, “We’ve received very favorable feedback on the speed and ease of use of the platform; our clients also appreciate the added control this sophisticated product offers.”
BofA Merrill is a leading participant in the world’s currency markets with global foreign exchange group trading in more than 150 major, minor and exotic currencies through a network of 18 sales and trading centers worldwide.