BIDS Trading ATS Trades One Billion Shares*
New York, NY – September 17, 2007 – BIDS Trading, the newly formed alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, today announced a volume milestone – the execution of over one billion shares* on the platform in less then 125 days of operation.
“Hitting this milestone is significant, but more importantly, executing one billion shares in such a short timeframe reinforces our market model,” states Tim Mahoney, Chief Executive Officer of BIDS Trading. “We remain focused on connecting additional market participants to the BIDS Trading ATS in order to provide additional users with access to our growing liquidity pool.”
The BIDS Trading ATS is accessible to both buy-side and sell-side firms that want to trade large blocks through continuous order matching and trade negotiation. Use of the BIDS Trading ATS as a block trading service is not exclusive or subject to volume commitment and each participant may continue to use any ATS, ECN or exchange service that supports the trading needs of its customer base.
The BIDS Trading ATS allows traders to control their level of information disclosure. Market participants can choose to auto-execute their order or negotiate; they can set their minimum block size to help protect their order; and they can even filter out counterparties based on past trading behavior.
BIDS Trading Media Contact
Caroline Bujak, BIDS Trading, L.P. +1.212.618.2097
caroline.bujak@bidstrading.com
About BIDS Trading, L.P.
BIDS Trading, L.P. is a registered broker-dealer and the operator of the BIDS Trading 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, the BIDS Trading ATS resolves the classic paradox of the block trader ? the need to find legitimate trading counterparties without prematurely revealing trading intentions. The BIDS Trading ATS is open to all qualifying broker-dealers and their institutional clients, subject to basic credit and regulatory requirements. For more information, visit www.bidstrading.com.
* Figures are double-counted, to include both sides of the transaction.