Academy Securities, Inc. Signs Sponsorship Agreement
New York, NY – January 15, 2013 – Academy Securities, Inc., a FINRA registered US Broker-Dealer, California-certified Disabled Veteran Business Enterprise (DVBE) and Service Disabled Veteran Owned Business (SDVOB), and BIDS Trading, L.P., the Alternative Trading System (“ATS”) designed to increase competition and liquidity in the U.S. equity block trading market, today announced the signing of a sponsorship agreement that allows Academy to provide customers direct and anonymous block liquidity in the BIDS ATS.
“We are excited to be a sponsoring broker dealer with BIDS Trading,” said Chance Mims, Chief Executive Officer of Academy. “This relationship enables our clients to access liquidity in the markets and enhances our current platform.”
BIDS trading supports a sponsored access model that allows buy-side clients to select a broker to pay for their trading activity in the BIDS ATS. Buy-side clients benefit by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners. BIDS Trading allows market participants to trade large blocks of equities without revealing their order. Information disclosure is controlled by the trader via customizable trading tools: traders set their minimum block size to help protect their order and they can filter out counterparties based on past trading behavior.
“Academy Securities is a great addition to our growing list of sponsoring brokers,” said Tim Mahoney, Chief Executive Officer of BIDS Trading. “Our goal is to encourage the broadest possible market participation and we are pleased to provide access to Academy Securities’ client base and address their needs for anonymous block trading.”
About BIDS Trading, L.P.
BIDS Trading, L.P. is a registered broker/dealer and the operator of the BIDS Alternative Trading System (“ATS”), which was designed to bring counterparties together to anonymously trade large blocks of shares. Developed by a consortium of leading financial services firms, BIDS Trading resolves the classic paradox of the block trader – the need to find legitimate trading counterparties without prematurely revealing trading intentions. For more information, visit www.bidstrading.com.
About Academy Securities, Inc.
Academy Securities, Inc., a FINRA registered US Broker-Dealer, California-certified Disabled Veteran Business Enterprise (DVBE) and Service Disabled Veteran Owned Business (SDVOB), was founded by Chance Mims, Douglas Greenwood, and Gregory Van Schaack to bring together the combined strengths of industry experts and the outstanding men and women in uniform who have served our country with honor. Academy Securities is a unique financial services firm offering a comprehensive suite of products and services that will not only benefit clients, but also support and encourage the retraining and employment of our nation’s veterans. The Company is of particular interest to municipal debt issuers, investment management firms, public, corporate, and multi-employer pension funds, and other public and private entities that are allocating contracts to DVBE and SDVOB firms. For more information, visit www.academysecurities.com.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
Elizabeth Tolomeo, Academy Securities, Inc.
Email: etolomeo@AcademySecurities.com
Tel: +1.312.635.0867
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