Altegris Clearing Solutions has added BofA Merrill Lynch's futures and options and OTC clearing unit to the roster of futures clearing firms with which it maintains introducing relationships.
BofA Merrill Lynch is the eighth leading futures commission merchant (FCM) to offer its services to clients of Altegris Clearing Solutions.
Altegris Clearing Solutions seeks to simplify for its clients the establishment of multiple futures clearing relationships. A multi-FCM framework may be particularly useful for institutional investors and hedge funds that desire more than a single provider for specific trading markets access, seek to diversify their futures clearing among multiple firms and/or seek greater operational flexibility and ability to efficiently transfer assets among different FCMs if necessary.
"Altegris Clearing Solutions has taken a leadership position in making available to its clients a multi-FCM programme to support their efforts to compete and thrive in the current financial environment," says Maxwell Eagye, director of Altegris Clearing Solutions. "We provide our clients with a centralised point of contact, turn‑key access to multiple futures clearing firms to support day-to-day business needs, and redundant or back-up clearing relationships if desired."
Altegris Clearing Solutions currently offers a platform of futures clearing services via a suite of clearing and introduction relationships with leading firms including: ADM Investor Services; JP Morgan Securities; Morgan Stanley & Co; NewEdge USA; RBC Capital Markets; RJ O'Brien and Associates; Rosenthal Collins Group; and now BofA Merrill Lynch.
Over the next few months, it is anticipated that the suite of clearing firms available to clients will further expand.