As announced earlier this week, Bank of America Merrill Lynch has established an equity interest in REDI Holdings LLC (REDI), the technology provider of REDIPlus® Execution Management System (EMS). As part of the agreement, InstaQuote®, BofA Merrill’s own multi-asset class EMS will be transferred to REDI.
During the transition, existing InstaQuote clients will be migrated in an orderly fashion. All BofA Merrill algorithms and routes will be immediately available and can be utilized by all REDIPlus users.
“We look forward to merging the technology from InstaQuote with REDI so clients can continue to leverage our liquidity and trading solutions on this well capitalized EMS with Global capabilities and advanced functionality,” said Ashok Krishnan, head of Global Execution Services.
In addition to REDI, BofA Merrill will continue to support clients with a wide variety of EMS platforms based on their trading preference.