BIDS Trading Breaks Volume Record in Q4 2009
NEW YORK, NY – January 21, 2010 – BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, achieved an average daily volume of over 25 million shares* in Q4 2009, breaking its previous quarterly volume record of 23 million shares* per day. Since its launch in the spring of 2007, BIDS Trading has traded over 13.8 billion shares*.
“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.
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.
BIDS Trading participants have simultaneous access to both the BIDS ATS and the New York Block Exchange (NYBX). NYBX, a revolutionary joint venture between BIDS Trading and NYSE Euronext, is the first joint trading venture between an ATS and an exchange. NYBX provides investors with access to both displayed and hidden interest on the NYSE, without revealing trading intentions.
In December 2009, buy-side users of the NYBX averaged an impressive 47% fill rate, with an average buyside order size of 50,222 shares.
Media Contacts
Caroline Bujak, BIDS Trading, L.P.
Email: caroline.bujak@bidstrading.com
Tel: +1.212.618.2097
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. The BIDS 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.