FXall, the world’s leading electronic foreign exchange liquidity destination and trading platform, together with Bank of America Merrill Lynch, today announced that Bank of America Merrill Lynch will become a clearing broker on FXall’s Order Book platform.

FXall’s Order Book is an anonymous over-the-counter (OTC) electronic communications network (ECN) for spot 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.  Bank of America Merrill Lynch foreign exchange trading clients can now leverage integrated access to FXall's Order Book, in addition to its award-winning global multi-bank execution platform.     

“Our clients are always looking for the latest tools and functionality for their foreign exchange 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 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 Bank of America Merrill Lynch. “This offering also enables us to make our industry-leading Prime Brokerage services available to a larger number of firms in the foreign exchange market.”  

“We are pleased that Bank of America Merrill Lynch, one of the industry’s premier market makers, which already has a strong presence on FXall, is partnering with us to expand its service capabilities for its foreign exchange clients by providing access to all our liquidity sources through their existing credit lines and clearing services,” said Phil Weisberg, Chief Executive Officer of FXall. “We are continually expanding our services as our clients’ strategic execution partner, to offer them the ability to trade through multiple execution mechanisms to meet their unique needs.  Increasingly sophisticated institutional users are responding to the rapidly changing market structure by adapting new execution strategies and prefer venues that support numerous execution alternatives.  As our clients take advantage of new ways to manage their order flow and assume risk more effectively, we are here to respond to their needs.”  

About FXall  

FXall gives institutional clients an edge in foreign exchange trading as the leading independent electronic platform. We deliver the expertise, resources and commitment of a neutral platform with the broadest suite of FX trading solutions that combine execution tools with end-to-end workflow management and straight through processing. Our flexible tool set delivers the right execution strategies and virtuous liquidity in all market conditions for over 1,000 institutions globally. FXall’s offices in New York, Singapore, Sydney, Tokyo, London, Mumbai, Boston and Washington serve the needs of active traders, asset managers, corporate treasurers, banks, broker-dealers and prime brokers.     

For more information on FXall, visit www.fxall.com.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with more than 5,800 retail banking offices and approximately 18,000 ATMs and award-winning online banking with 29 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, strategic advisory, and other investment banking activities are performed globally by investment banking affiliates of Bank of America Corporation ("Investment Banking Affiliates"), including, in the United States, Merrill Lynch, Pierce, Fenner & Smith Incorporated, which is a registered broker-dealer and a member of FINRA and SIPC, and, in other jurisdictions, locally registered entities. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed.  

For further information about this release, please contact:  

Melissa Rowling           
Telephone: +44 20 7680 5051
Mobile: + 44 780 155 3021
Email: melissa.rowling@greentarget.co.uk  

Dafina Grapci-Penney   
Telephone: +44 20 7680 5052
Mobile: + 44 752 533 5733
Email: dafina.grapci-penney@greentarget.co.uk