Banc of America Securities’ (BAS) says clients of Minerva, LatentZero’s order management and trading system, will be able to access its Electronic Trading Services (ETS) trading technology directly.
The agreement with LatentZero, a provider of buy-side front office technology for the asset management industry, is part of BAS’ Electronic Trading Alliance. The Alliance is a “framework” in which BAS collaborates with technology vendors and trading platforms to provide access institutional traders.
LatentZero’s Minerva aims to provide asset managers with the ability to route orders through BAS’ electronic trading system and provide LatentZero clients with direct access to the services offered by Banc of America Securities.
“Banc of America Securities is committed to integrating leading edge technology and providing the software needed by the “new” style of today’s buy-side trader,” says Rob Flatley, managing director, Electronic Trading Services at Banc of America Securities. “The key to working with LatentZero is that they had the foresight to de-couple algorithms from their core trading engine, affording them exceptional flexibility. As a result, LatentZero’s clients can immediately benefit from algorithmic trading through the BAS platform.”
“We understand that with increased client and regulatory scrutiny as well as highly competitive brokerage relationships, the buy-side trader is under mounting pressure to make the right execution decision for each individual trade,” explains Dan Watkins, managing director of LatentZero. “Long gone are the days when an order was simply passed on to a sell-side trader for execution. We are fully committed to the further development of our products to meet the future needs of the global asset management industry. And we believe that the combination of BAS’ algorithmic trading platform and Minerva 3.5.1 gives clients a flexible solution for the constantly changing environment in which they work.”