06.10.2016

BofA Merrill Lynch Launches Electronic Syndicated Loan Trading Platform

BUSINESS WIRE- New York- Bank of America Merrill Lynch has announced the launch of a new electronic platform, Instinct Loans, for the secondary trading of syndicated corporate loans.

The platform, which is part of the firm’s ongoing commitment to providing liquidity to clients, aims to simplify and enhance the market by combining innovative technology with market-leading sales and trading professionals.

Within Instinct Loans, the Bank of America Merrill Lynch trading desk will host straightforward matching sessions into which clients can bid or offer loans against mid-market prices. Matching bids and offers will trade immediately and electronically for a fixed commission, with all clients facing Bank of America, N.A. as principal. Clients selling loans via Instinct Loans will also have the option of T+3 settlement for sale transactions to help address clients’ cash needs within the loan market.

“Providing liquidity and efficient execution are critical components of what we offer to our clients in the credit markets,” said Brian Callahan, head of Electronic Initiatives and U.S. Par Loan Trading for Global Credit and Special Situations at Bank of America Merrill Lynch. “The introduction of Instinct Loans is another demonstration of our commitment to the loan market and to using technology to better serve our clients.”

Related articles

  1. With Joel Kim, Head of International Fixed Income and CEO Asia ex-Japan, Dimensional Fund Advisors

  2. Machines 'Learn' Liquidity

    Participants are looking to connect with alternative liquidity providers.

  3. Assessing Bond Liquidity

    Traders need to consider the heterogeneity, diversity, and incongruity of Asian equity markets.

  4. Liquidity challenges in bond markets in the pandemic forced the buy side to find new trading partners.

  5. Corporate Bond Trading on the Rise

    With Adam Conn, Head of Trading, Baillie Gifford