According to the financial institution, the new strategies incorporate the bankâs technology and infrastructure including the smart order router.
The two plans will enable users to benefit from low latency while undertaking trades as well as providing access to larger sources of liquidity.
As well as the new strategies, the algos also contain risk controls over spread, inverse spread, ratio and inverse ratio strategies.
Michael J Lynch, head of Americaâs Execution Services at BoFA Merrill Lynch, said: âClients continue to ask us about pairs and other market neutral strategies like statistical and risk arbitrage.â
âBy using our new pairâs algo functionality, clients can quickly and easily implement these strategies.â
Dan Nachtman, product manager and director of Execution Services at BoFA Merrill Lynch, added: âWe think our clients will quickly realize the quality of our new offering and adopt them as core strategies.â
Meanwhile, BoFA has sold its share in Santanderâs Mexican unit to the Spanish financial group for $2.5 billion.
By Jim Ottewill