Merrill Integrates Algorithmic Trading Service With Macgregor XIP
Merrill Lynch will make ML X-ACT, its proprietary algorithmic and computer-based equity-trading service, accessible to institutional customers via Macgregor's order-management network, Macgregor XIP. The partnership will let institutional clients tap into ML X-ACT's suite of algorithmic-based strategies via the Macgregor desktop.
Macgregor says that access to ML X-ACT will mean that any new strategies introduced by Merrill will become immediately available through XIP without the need for an upgrade. ML X-ACT is an algorithmic trading platform that lets institutional investors tailor trades to meet specific benchmark, risk and cost objectives.