BIDS Trading Achieves New Single Day Record in 2011
Block Trading Platform Continues to Break Trading Records as Daily Volume Crosses 108 Million Shares*
New York, NY – August 3, 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 108,095,802 shares executed in the BIDS ATS on August 2, 2011.
BIDS Trading has been steadily increasing its volumes. This record marks the third record volume day in ten days.
“We are very encouraged as our liquidity pool continues to grow, along with our user base. This demonstrates that we are achieving our goal of providing a venue in which buy-side and sell-side firms can trade blocks of stock anonymously and efficiently,” states Tim Mahoney, Chief Executive Officer of BIDS Trading. “Our growing volumes can be directly attributed to increased buy-side and sell-side participation. Buy-side users recognize the benefit of our sponsored-access model, which means that a buy-side trader can direct 100% of their commission dollars to the broker of their choice.”
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.