Bank of America Merrill Lynch has signed on with a quant firm — and it shows where Wall Street is headed (BAC)
|11/11/2017||Posted by BusinessMediaguide.Com under General World News||
- Manoj Narang, who launched quant hedge fund MANA Partners earlier this year, has launched a subsidiary that’s developing financial products based on trading data.
- Bank of America is using the firm’s simulating tool to test its algorithms and make sure they comply with new regulations in Europe, called MiFID II.
- Mana’s move is an example of a broader trend, as high-frequency trading firms seek new ways to use their expertise to expand business, and investment banks look to partner with tech savvy upstarts.
Manoj Narang, founder of quant hedge fund MANA Partners, has launched a trading subsidiary that is developing read more >>>