— BIDS Trading Breaks Single Day Record for 2008

Daily Volume on BIDS Trading Surpasses 60 Million Shares*

NEW YORK, NY – February 7, 2008 – BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, executed more than 60 million shares* today.

Since its launch in the spring of 2007, BIDS Trading has surpassed a total volume of 2.86 billion shares*, with average daily volume breaking a new record of over 18.7 million shares* in January 08.

The ATS has remained focused on its mission to unite the buy-side and sell-side communities, connecting to eleven Order Management and Execution Management Systems, including Fidessa LatentZero’s Minerva OEMS, FlexTrade Systems’ FlexTRADER, Goldman Sachs’ REDIPlus, JPMorgan’s Neovest, Morgan Stanley’s Passport, Portware, and UBS Pinpoint.

Using the BIDS Trading ATS, market participants can trade large blocks of equities without revealing their order. Information disclosure is controlled by the trader via various customizable trading tools: traders can choose to auto-match 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 is accessible to all qualifying broker-dealers and their institutional clients, subject to basic credit and regulatory considerations. Use of the BIDS Trading ATS as a block trading service is not exclusive or subject to volume commitments and each participant may continue to use any ATS, ECN or exchange service that supports the trading needs of its customer base.

Media Contacts:

Caroline Bujak, BIDS Trading, L.P.
Email: caroline.bujak@bidstrading.com
Tel: +1.212.618.2097

Stephanie DiIorio
Email: sdiiorio@intermarket.com

Tel: +1.212.754.5181

About BIDS Trading

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 platform resolves the classic paradox of the block trader – the need to find legitimate trading counterparties without prematurely revealing trading intentions. The BIDS Trading platform 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.