Instinct Loans ADA
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BofA Securities is pleased to bring you Instinct® Loans.
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Instinct Loans
Efficient pricing. Transparent Liquidity. Seamless execution.
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An innovative way to trade syndicated loans that combines our market-leading trading desk with proprietary technology. Offering better liquidity, information and efficiency of execution. Instinct Loans hosts matching sessions into which you can bid or offer against fixed, mid-market prices on the largest loans in the market.
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Unlike small or single-sector matching sessions in other asset classes, Instinct Loans covers the majority of traded loans in everysession. So you don't have to wait to trade the loans you want. Our matching sessions are designed to be simple and fair. We process bids and offers in time priority order. And with fixed prices that don’t fluctuate, price priority doesn’t exist. There are no first or last looks, and no preference for size. Our desk doesn’t see client bids or offers during the session, and our traders see the same screen that you do.
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Initiating a trade can be as easy as entering a size. For cash delivery certainty, you can specify expedited T+3 settlement when entering an offer. And you can remain anonymous to our desk on unexecuted inquiries by switching the anonymous button to “yes”.
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Unlike BWICs and OWICs, trades are executed in real time in Instinct Loans. You don't have to leave your bids and offers outstanding for hours, and are free to cancel an unexecuted inquiry at any time. And all clients face Bank of America, N.A. as principal on trades; clients never know or face one another.
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Instinct Matching can help you find the loans you're looking for. The mids can be filtered to display loans your firm has owned in the past.
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You can also search for loans meeting specific criteria, including price, rating and maturity.
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Finding liquidity is simple. A green circle indicates a loan with a live bid from one or more buyers against the mid, while a red circle indicates a live offer.
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Separate from the matching sessions, Instinct Loans offers customized axes from our trading desk, updated throughout the day. Using proprietary software, it displays the axes that align with your recent trades, inquiries and portfolio holdings.
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BofA Securities is committed to offering you the best liquidity and service in traditional voice and electronic markets. Instinct Loans is a demonstration of that commitment.
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Instinct® Loans
Efficient pricing. Transparent liquidity. Seamless execution.
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To get started, please contact your BofA Securities representative.
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“Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including, in the United States, BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp., both of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. and Merrill Lynch Professional Clearing Corp. are registered as futures commission merchants with the CFTC and are members of the NFA.
Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured • May Lose Value • Are Not Bank Guaranteed.
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