Spread Trader, Bank of America’s latest smart order routing offering for equity options, was launched to help enable InstaQuote users to efficiently enter multi-leg options orders electronically across the complex order books of both the Chicago Board Options Exchange and the International Securities Exchange, and then source additional liquidity across all other US options exchanges.
Spread Trader may be especially suited for traders seeking to enhance their multi-legged options strategies, at each leg of the trade, using sophisticated liquidity aggregators and decision support tools.
As equity option volume continues to grow, we see unique opportunities to help facilitate best electronic execution in the broader derivatives markets, said Dean Curnutt, head of institutional equity derivative and convertible sales for Bank of America. Our Spread Trader functionality is a powerful addition to the suite of tools our users have available to enter option orders electronically.
In addition, the bank announced that InstaQuote users now have full access to all futures listed on the Chicago Mercantile Exchange’s Globex platform. This new functionally includes full charting capabilities, pre-trade allocation, and the ability to process iceberg orders.
