Merrill Lynch Offers ML X-ACT Algorithmic Trading Services via Macgregor XIP.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Merrill Lynch announced an agreement today to make ML X-ACT X-ACT XML Active Content Technologies Council (SM), the firm's proprietary algorithmic and computer-based equity trading service, available through Macgregor's order management network, Macgregor XIP (Execute In Place) The ability to execute a program directly from a memory card. (TM). ML X-ACT is a powerful, integrated algorithmic trading Algorithmic Trading A trading system that utilizes very advanced mathematical models for making transaction decisions in the financial markets. The strict rules built into the model attempt to determine the optimal time for an order to be placed that will cause the least amount of platform that delivers efficiency and cost control by enabling institutional investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. clients to tailor trades to meet specific benchmark, risk and cost objectives. Developed internally by Merrill Lynch using extensive qualitative research Qualitative research Traditional analysis of firm-specific prospects for future earnings. It may be based on data collected by the analysts, there is no formal quantitative framework used to generate projections. and historical data, ML X-ACT's models are continuously fine-tuned to respond to real-time market data, emerging market structures, benchmark-relative performance and execution costs Execution costs The difference between the execution price of a security and the price that would have existed in the absence of a trade, which can be further divided into market impact costs and market timing costs. . "This is a key partnership, allowing our clients to easily tap into ML X-ACT's dynamic suite of algorithm-based strategies via the Macgregor desktop. Expanding access is a priority for Merrill Lynch and we're thrilled to have Macgregor as an integrated solution," said Mike Stewart, managing director and head of global portfolio and automated trading at Merrill Lynch. "Our clients are always looking for ways to achieve best execution and are excited to gain direct access to Merrill Lynch's algorithms knowing that it will help them achieve their objectives," said Stephen Alepa, executive vice president at Macgregor. "They also know that access to ML X-ACT will be highly reliable, efficient and any new strategies or tactics added by Merrill Lynch will become immediately available through the XIP order management network without the need for an upgrade." ML X-ACT is part of Merrill Lynch's suite of premier execution services, including capital commitment and block trading, portfolio trading and analytics and direct market access. Merrill Lynch is one of the world's leading financial management and advisory companies, with offices in 35 countries and total client assets of approximately $1.5 trillion. As an investment bank, it is a leading global underwriter of debt and equity securities and strategic advisor to corporations, governments, institutions and individuals worldwide. Through Merrill Lynch Investment Managers, the company is one of the world's largest managers of financial assets. Firmwide assets under management Assets Under Management (AUM) is a term used by financial services companies in the mutual fund and money management or investment management business to gauge how much money they are managing. total $478 billion. For more information on Merrill Lynch, please visit www.ml.com. Founded in 1991, Macgregor has set the standard in investment technology for the global buy-side community. Macgregor's unique architectural approach to developing workflow solutions is embodied in its order management network, Macgregor XIP, which combines powerful portfolio management, compliance, trading and post-trade tools with a fully integrated and supported financial services IP network. This system helps move information through the entire investment process with increased speed, accuracy and efficiency, resulting in better investment performance. Supporting both FIX and non-FIX messages, XIP delivers a range of pre-trade, trade and post-trade services to the user's desktop and provides the ultimate in liquidity with access to more than 220 broker/dealers, electronic communications networks (ECNs) and alternative trading systems Alternative Trading Systems (ATS) are SEC-approved non-exchange trading venues. They play an important role in public markets for allowing alternative means of accessing liquidity. . Macgregor's extended architecture affords its clients and partners the unique efficiencies and power that can only be achieved through a large, diverse and well-connected community of users. With offices in Boston, New York Boston is a town in Erie County, New York, United States. The population was 7,897 at the 2000 census. The town is named after Boston, Massachusetts. The Town of Boston is an interior town of the county and one of the county's "Southtowns. , San Francisco, London, Madrid and Hong Kong, Macgregor helps more than 90 of the largest institutions in the world manage over $5.5T in global assets. For more information on Macgregor, please visit www.macgregor.com. |
|
||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion