BIDS Trading Reports Record January Trading Volumes
NEW YORK, NY – February 3, 2010 – BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, has kicked off the new year by achieving a record average daily volume of over 32 million shares* in January, breaking its previous record by 17%.
Additionally, BIDS Trading set records in January for total number of orders, total number of trades, and symbols passed through the platform daily.
“We continue to focus on increasing the number of BIDS Trading users and refining and improving the client experience. We hope to set more records in the months to follow,” 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.
Media Contact
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.
*Figures include all volume traded on the BIDS ATS and NYBX.
NYBX volume is single counted. BIDS ATS volume is double counted to include both sides of the transaction.