Merrill joins competitors on RealTick

Merrill Lynch & Co. Inc. has joined its competitors on RealTick, an electronic trading platform, giving clients access to its custom algorithms.
RealTick, which is owned by Townsend Analytics Ltd. of Chicago, gives firms the opportunity to make their algorithm-based strategies available to clients.
Brokers can use these strategies to execute global trades.
In the past year, Barclays Capital, Credit Suisse and UBS, have also joined RealTick.
Customers are calling the shots in this case: They want to use fewer trading systems, so companies are now allowing other firms’ brokers to use their trading platforms in an attempt to attract more orders, Financial News said.
For example, through this new arrangement, Merrill’s global clients can use the algorithms to trade North American and European securities, plus U.S. equity options.
Other firms that have opened these platforms include Goldman Sachs, which launched the European version of RediPlus in June.
Ten firms – including ABN Amro, Barclays Capital, BNP Paribas and Dresdner Kleinwort — have signed up, Financial News said.