BoA builds algo FX capabilities
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The Massachusetts-based firm has been a significant player in the rapidly growing alternative trading industry, specialising in automated, algorithmic trading in high-frequency finance. It was one of the first proprietary trading firms to be permitted to operate on EBS and Reuters, where it has acted as a market maker.
The deal, announced last week, was structured as a purchase of selected assets by BoA, including all those related to its trading. It includes a six-strong team of mathematicians
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