Bank of America Merrill Lynch (BofA) has launched new adaptable pairs algorithm for the European market, Mondovisione reports. The algorithm’s four operating modes, Spread, Inverse Spread, Ratio and Inverse Ratio, have a number of parameters that allow traders to adapt and customize the execution behavior to suit their own trading style or objectives. The pairs algorithm allows control over child order size, passive and aggressive order book tactics and formula entry. The strategy, built in partnership with the firm’s traders, will utilize BofA’s liquidity seeking smart order router, low latency infrastructure and also access to internal liquidity.

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