Daily Volume in the BIDS ATS Surpasses 100 Million Shares
BIDS TRADING SETS A NEW SINGLE DAY TRADING RECORD
New York, NY – July 22, 2011 – BIDS Trading, L.P., the alternative trading system (ATS) designed to increase liquidity in the U.S. equity block trading market, announces a new single day trading record of 100,933,400 shares executed in the BIDS ATS on July 21, 2011.
BIDS Trading has been steadily increasing its volumes. For the six months ending June 30, 2011, BIDS ADV was over 68 million shares*, representing more than an 85% increase from the same period in 2010.
On the record numbers, Tim Mahoney, CEO of BIDS Trading, offered, “the growth in the BIDS ATS volume is validation that both the buy-side and the sell-side contribute significantly to our liquidity pool and that buy-side users recognize the value of using their commission dollars more efficiently through the broker sponsored model.”
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.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
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.
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*BIDS ATS volume is double counted to include both sides of the transaction.
©2011 BIDS Trading® is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.