Bank of America Merrill Lynch Expands “BofA Merrill Open Minds” With Two New Research Providers EidoSearch and MERA
Bank of America Merrill Lynch announced the addition of EidoSearch Predictive Analytics to its BofA Merrill Open Minds alternative research platform."The addition of EidoSearch and MERA reflects our investment in Open Minds and our goal to deliver the best independent research products to our clients. We are delighted to welcome them both to our platform."
-Robert Nowicki, vice president in the Execution Services group at Bank of America Merrill Lynch
BofA Merrill Open Minds has been complementing the firm’s industry-leading proprietary research since 2007 by providing institutional clients access to highly specialized independent research, covering areas such as corporate integrity risk, federal legislation and regulation, litigation and many industry sectors. The addition of EidoSearch and MERA will expand the highly specialized independent research suite currently available on the platform.
Robert Nowicki, vice president in the Execution Services group at Bank of America Merrill Lynch, said, “The addition of EidoSearch and MERA reflects our investment in Open Minds and our goal to deliver the best independent research products to our clients. We are delighted to welcome them both to our platform.”
EidoSearch uses cutting-edge predictive analytics to quantify the impact of price, economic and market trends to project likely outcomes based on similar historic trends. These projections help identify actionable data points for idea generation, risk management and trade execution.
The provider analyzes patterns across equities, currencies, commodities, ETFs and indices on the scale of a billion pattern comparisons every day. It can also assist clients in better estimating risks and uncovering opportunities, and can function as an alert to project outcomes after extreme market events or price moves.
Nowicki said, “EidoSearch is a great addition to our Open Minds platform, and their approach to analyzing historical comps and generating return probabilities will be a valuable addition to our clients’ investment decision-making processes.”
“We are excited to be one of a select group of alternative research and information providers chosen for BofA Merrill Open Minds,” said Jeff Parker, chairman of EidoSearch and the founder of First Call and CCBN StreetEvents.
“By adding EidoSearch, BofA Merrill recognizes the need to gauge event outcomes and use statistics to better forecast returns and volatility that complement the fundamental research process. The bank’s global reach will help us further expand our leadership position in applying predictive analytics to financial data.”