BofA Merrill Lynch upgrades prime brokerage
28 July 2014 New York
Image: Shutterstock
Bank of America Merrill Lynch is moving its prime brokerage business away from its current system, ML Prime.
The prime brokerage business will begin using the bank’s global markets platform, Mercury, its standard for all client-facing applications across research, trading and corporate banking.
With the integration, BofA Merrill Lynch's new prime brokerage portal can incorporate all the tools available on ML Prime, such as money wires and corporate actions elections, while introducing new capabilities.
These include a new flexible reporting tool, allowing clients to customise existing reports or easily create new ones.
All reporting functionality is shared across prime services, according to BofA Merrill Lynch, meaning clients trading futures or clearing OTC trades through the bank can access consolidated prime brokerage, futures and OTC clearing reporting.
BofA Merrill Lynch's prime brokerage business offers capital introductions, fixed income, hedge fund consulting services, and synthetic products and securities lending.
The prime brokerage business will begin using the bank’s global markets platform, Mercury, its standard for all client-facing applications across research, trading and corporate banking.
With the integration, BofA Merrill Lynch's new prime brokerage portal can incorporate all the tools available on ML Prime, such as money wires and corporate actions elections, while introducing new capabilities.
These include a new flexible reporting tool, allowing clients to customise existing reports or easily create new ones.
All reporting functionality is shared across prime services, according to BofA Merrill Lynch, meaning clients trading futures or clearing OTC trades through the bank can access consolidated prime brokerage, futures and OTC clearing reporting.
BofA Merrill Lynch's prime brokerage business offers capital introductions, fixed income, hedge fund consulting services, and synthetic products and securities lending.
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