Bank of America Merrill Lynch has announced the launch of electronic FX options trading capabilities for institutional and corporate clients. Part of BAML’s overall eFX offering, called MLFX, the new platform allows clients to get two-way dealable prices and execute trades live or with delta exchange. Clients are able to trade vanilla options and vanilla strategies on G10 currencies and crosses globally, 24 hours a day, six days a week.
BAML now provides spot, forward and option trading capabilities on the same platform and includes a unified trade blotter for spot, forwards and options. The bank says that the ability for clients to access the platform via its API distinguishes it from many other systems in the market.
Richard Elliott, head of eFX options trading, says: “The FX options market has seen an increased demand for electronic trading capabilities, both via desktop applications and via API. We’ve received very favourable feedback on the speed and ease of use of the platform; our clients also appreciate the added control this sophisticated product offers.”