BAML to become clearing broker on FXall Order Book

Rob Gomprecht at BAML

Bank of America Merrill Lynch (BAML) is to become the first clearing broker on institutional foreign exchange trading platform FXall's Order Book, an anonymous electronic communications network (ECN) for spot FX execution.

According to officials at BAML, the new development will allow its clients to directly access the Order Book platform, which had previously required them to have a separate prime-brokerage relationship in place. Traditionally, any direct client relationship with the bank was

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