Sturdivant & Co. Inc. Signs Sponsorship Agreement with BIDS Trading
December 20, 2012
New York, NY – December 20, 2012 – Sturdivant & Co. Inc., a full service, MBE certified, brokerage firm with over twenty-five years capital markets experience, and BIDS Trading, L.P., the Alternative Trading System (“ATS”) designed to increase competition and liquidity in the U.S. equity block trading market, today announced the signing of a sponsorship agreement that allows Sturdivant to provide customers direct and anonymous block liquidity in the BIDS ATS.
“We are pleased to become a sponsoring broker with BIDS Trading. This is a great opportunity for us to provide our clients with additional liquidity in the U.S. markets and utilize our MBE status,” said Harvey R. de Krafft, Managing Director of Sturdivant & Co. Inc.
BIDS trading supports a sponsored access model that allows buy-side clients to select a broker to pay for their trading activity in the BIDS ATS. Buy-side clients benefit by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners. 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.
“The addition of Sturdivant as a sponsor in BIDS furthers our goal of creating the most efficient trading venue and deepest liquidity pool possible,” said Tim Mahoney, CEO of BIDS Trading. “We are truly pleased to provide investors using Sturdivant with the ability to access BIDS Trading’s open, flexible platform.”
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.
About Sturdivant & Co. Inc.
Sturdivant & Co. Inc. is a full service, MBE certified, brokerage firm with over twenty-five years capital markets experience. Their offices are located in Mt. Laurel, New Jersey and Chicago, Illinois. They bring unique and in-depth knowledge of the companies, the business climate, the economy and the politics of “the region” to clients in diverse geographies. Their experienced and committed team of research and trading professionals, strengthened by their technology, market intelligence and solid relationships, enables them to consistently provide outstanding service. For more information, visit www.sturdivant-co.com.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
Terry A. Williams, Sturdivant & Co. Inc.
Email: twilliams@sturdivant-co.com
Tel: +1.856.433.6122
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©2012 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.
First Analysis Securities Corporation Signs Sponsorship Agreement with BIDS Trading
December 11, 2012
New York, NY – December 11, 2012 – First Analysis Securities Corporation (“First Analysis”), the Chicago-based broker/dealer founded in 1981, and BIDS Trading, L.P., the Alternative Trading System (“ATS”) designed to increase competition and liquidity in the U.S. equity block trading market, today announced the signing of a sponsorship agreement that allows First Analysis to provide customers direct and anonymous block liquidity in the BIDS ATS.
“First Analysis is very excited to become a sponsoring broker with BIDS Trading,” said Tom Ianiro, Managing Director of First Analysis. “Our goal in working with BIDS Trading is to offer additional value-added services for our clients. Access to BIDS Trading’s non-displayed liquidity pool, along with our own quality trading solutions, is essential in building relationships with clients who are looking for liquidity while remaining anonymous in the marketplace.”
BIDS Trading supports a sponsored access model that allows buy-side clients to select a broker to pay for their trading activity in the BIDS ATS. Buy-side clients benefit by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners. 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.
“We are very pleased to add a firm of First Analysis’s caliber to our growing list of sponsoring brokers,” said Tim Mahoney, CEO of BIDS Trading. “This agreement furthers our efforts to continue to create an open, efficient marketplace in the BIDS ATS, and offer the broadest participation and deepest liquidity pool possible to anonymously trade blocks of U.S. equities.”
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.
About First Analysis Securities Corporation
First Analysis Securities Corporation is a full-service broker/dealer offering a complete suite of services to its clients. It provides institutional investors with public equity research and trading services and serves corporations with corporate finance and M&A advisory. First Analysis applies a differentiated strategy: achieving broad, deep, and long-term domain expertise through a research and investment focus that encompasses both private and public companies. First Analysis Securities Corp. is a registered broker/dealer with FINRA and SIPC. For more information, visit www.firstanalysis.com.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
Tom Ianiro, First Analysis Securities Corp
Email: tianiro@firstanalysis.com
Tel: +1.312.258.1400
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©2012 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.
BLOOMBERG LAUNCHES LIQUIDITY CAPTURE SERVICE FOR U.S. EQUITIES
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New Alliance with BIDS Trading Centralizes Liquidity & Preserves Broker Relationships
September 19, 2012
New York, NY – September 19, 2012 – Bloomberg LP today announced access to its U.S. equity pool as part of a new service called Bloomberg Pool, or BPool. Developed in conjunction with BIDS Trading, BPool enables traders to interact with liquidity present on Bloomberg’s equities trading platforms and BIDS Trading’s alternative trading system (ATS), which acts as BPool’s order matching engine.
BPool shares the broker-sponsored access model implemented by BIDS Trading, which enables buy-side traders to fully allocate commission dollars to the broker of their choice and pay for brokerage services, such as research.
“BPool provides access to what the U.S. equity markets have been looking for, a centralized, active and diverse marketplace,” said Daniel L. Doctoroff, president and chief executive officer of Bloomberg. “Our clients now have a more efficient way to implement trading strategies and achieve better execution results.”
As an integrated component of the trading tools available with Bloomberg’s order and execution management platforms, BPool gives traders the option to interact with centralized liquidity and configurable orders to help automate and optimize liquidity capture. From order-entry to execution, traders can monitor and control orders sent to BPool.
BIDS Trading’s ATS was founded by leading U.S. brokerage firms in 2006 to provide an alternative, dynamic electronic marketplace for U.S. equity block trading. BIDS Trading adopted policies designed to preserve broker relationships and bring counterparties together to trade large blocks of shares efficiently, confidentially and anonymously.
“Bloomberg joins more than a dozen financial services firms that created BIDS Trading in an effort to build an open marketplace that gives traders the flexibility to direct commission dollars to the broker of their choice,” said Tim Mahoney, chief executive officer of BIDS Trading. “The injection of Bloomberg’s diverse order flow creates a deep and efficient liquidity pool in an otherwise fragmented marketplace.”
As part of its alliance with BIDS Trading, Bloomberg made an equity investment in BIDS, joining a consortium of more than a dozen financial services firms. Raymond Tierney, president and chief executive officer of Bloomberg’s agency brokerage business, Bloomberg Tradebook LLC, will represent Bloomberg as a BIDS board member. Jim White, an executive with more than 20 years of experience working with electronic equities markets, was named the global head of operations for BPool.
BPool technology is developed in conjunction with Bloomberg’s EMSX and SSEOMS product teams, while the decision engine is developed and operated by Bloomberg Tradebook LLC, a U.S. registered broker-dealer and member of FINRA.
More information about Bloomberg’s BPool is available at {POOL} on the Bloomberg Professional service, or by contacting Jim White at jwhite13@bloomberg.net.
About Bloomberg LP
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company’s strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service, which provides real time financial information to more than 310,000 subscribers globally. Bloomberg’s enterprise solutions build on the company’s core strength, leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively.
Media Contacts
Vera Newhouse
Bloomberg LP
Email: vnewhouse@bloomberg.net
Tel: +1-212-617-6420
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
BPool is a service mark of Bloomberg LP.
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Reynolds Securities, LTD. Signs Sponsor Agreement with BIDS Trading, L.P.
August 3, 2012
New York, NY – August 3, 2012 – Reynolds Securities, a 25+ year-old, African-American owned, New York-based agency broker serving institutional trading desks nationwide, and BIDS Trading, L.P., the Alternative Trading System (“ATS”) designed to increase competition and liquidity in the U.S. equity trading block trading market, are pleased to announce the signing of a sponsorship agreement. This agreement provides Reynolds Securities clients with the ability to benefit from the BIDS Trading crossing network, while earning Minority Business Enterprise (”MBE”) credits.
“We are proud to participate in what we think is one of the better block liquidity venues,” said Kennon A. Brennen, Managing Partner of Reynolds Securities. “Our sponsor agreement with BIDS Trading compliments our trading approach of staying on the cutting edge of best execution,” explained Shannon Burhance, also a Managing Partner at Reynolds Securities.
Reynolds Securities, through this exciting agreement with BIDS Trading, can now work with its extensive institutional client base to directly and anonymously source block liquidity in both BIDS Trading and NYBX. Reynolds Securities is also excited to provide its institutional client base with a means of reaching diversity targets while remaining on the cutting edge.
BIDS Trading supports a sponsored access model that allows buy-side clients to select a broker to pay for their trading activity in the BIDS ATS. Buy-side clients benefit by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners. 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.
“We are pleased to provide access to the client base of Reynolds Securities and address their need to access block liquidity,” said Tim Mahoney, Chief Executive Officer of BIDS Trading.
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.
About Reynolds Securities, LTD.
Reynolds Securities is a 25+ year-old, MWBE certified African-American owned, broker/dealer that provides full service agency brokerage to institutional trading desks nationwide. Reynolds Securities is a preferred minority broker/dealer to public pension and private Taft-Hartley pension managers and their trading desks in the United States. Reynolds Securities Minority Credits are acceptable on a nationwide basis. Reynolds Securities is a bonded broker/dealer regulated by FINRA and covered by SIPC in the United States.
Media Contacts
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
Kennon A. Brennen, Reynolds Securities, LTD.
Email: kenbrennen@tpreynoldssecurities.com
Tel: +1.212.742.1616
©2012 New York Block Exchange, LLC., NYBXSM and New York Block ExchangeSM are service marks of NYSE Group, Inc. and are used by New York Block Exchange, LLC under license. 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.
DirectMarkets’ Clients Gain Access to BIDS ATS
April 11, 2012
NEW YORK, April 11, 2012 — Direct Markets, Inc., a subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ:RODM) and the owner and operator of the DirectMarkets platform, an automated state-of-the-art electronic transaction platform that will directly link existing public companies and investors seeking to transact primary offerings of securities, and BIDS Trading, L.P., the operator of the BIDS ATS (alternative trading system) designed to increase competition and liquidity in the U.S. equity block trading market, announced the signing of a subscriber agreement by DirectMarkets’ broker-dealer affiliate, Rodman & Renshaw, LLC, that allows DirectMarkets to provide its customers with direct and anonymous access to the block liquidity in the BIDS ATS. Securities transaction services on the DirectMarkets platform will be provided through DirectMarkets’ broker-dealer affiliate, Rodman & Renshaw, LLC.
“We are pleased that our broker-dealer affiliate, Rodman & Renshaw, LLC, has become a sponsoring broker with BIDS Trading, which will give DirectMarkets’ clients access to an additional source of reliable liquidity in the markets,” said Kevin Lupowitz, CEO of DirectMarkets. “This value-added service, combined with the robust transaction platform that we developed, demonstrates our continued commitment to best servicing our clients’ needs.”
With its many features, the DirectMarkets platform will empower issuers to sell shares (covered by a shelf registration) directly into the secondary market and to complete funding transactions at a fraction of the current cost. Using the same platform, investors will be able to directly contact issuers with effective shelf registrations in place to buy that issuer’s stock, effectively gaining the ability to accumulate stock positions in a more cost-effective manner than through ongoing open market purchases. Both investors and issuers will benefit from 24/7 seamless access to the DirectMarkets platform through a graphical user interface (GUI) accessible via a desktop or laptop computer, as well as mobile smart devices such as tablets or smartphones.
BIDS Trading supports a sponsored access model that allows buy-side clients to select a broker to pay for their trading activity in the BIDS ATS. Buy-side clients benefit by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners. 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.
“We are very excited to add Rodman & Renshaw to our growing list of sponsoring brokers and provide an additional source of liquidity to clients of DirectMarkets,” said Tim Mahoney, CEO of BIDS Trading. “This agreement furthers our efforts to continue to create an open, efficient marketplace in the BIDS ATS, and offer the broadest participation and deepest liquidity pool possible to anonymously trade blocks of U.S. equities.”
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, the BIDS ATS resolves the classic paradox of the block trader — the need to find legitimate trading counterparties without prematurely revealing trading intentions.
BIDS Trading is a joint venture of: Bank of America Merrill Lynch (NYSE: BAC), Barclays Capital (NYSE: BARC), Citi (NYSE: C), Credit Suisse Group (NYSE: CS), Deutsche Bank (NYSE: DB), The Goldman Sachs Group, Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), Knight Capital Group, Inc. (NYSE: KCG), Morgan Stanley (NYSE: MS), NYSE Euronext (NYX), and UBS (NYSE: UBS).
For more information, visit www.bidstrading.com.
About Direct Markets, Inc.
A subsidiary of Rodman & Renshaw Capital Group, Inc. (NASDAQ: RODM), Direct Markets, Inc. will operate an automated state-of-the-art electronic transaction platform to directly link existing public company issuers and investors seeking to transact primary offerings of securities. DirectMarkets will bring unprecedented, cost-efficient access to the capital markets into the C-Suite of public companies and bypass certain traditional roles typically held by investment banks that presently control the transactional process. Both investors and issuers will benefit from 24/7 seamless access to the DirectMarkets platform through a graphical user interface (GUI) accessible via a desktop or laptop computer, as well as mobile smart devices such as tablets or smartphones. Securities transaction services on the DirectMarkets platform will be provided through DirectMarkets’ broker-dealer affiliate, Rodman & Renshaw, LLC. For more information, please visit www.directmkts.com.
Cautionary Note Regarding Forward Looking Statements
This press release contains forward-looking statements regarding future events and financial performance including, but not limited to the timing and success of the roll-out of the DirectMarkets platform. In some cases, you can identify these statements by words such as “may,” “might,” “will,” “should,” “except,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” or “continue,” the negative of these terms and other comparable terminology. These statements involve a number of risks and uncertainties and are based on numerous assumptions involving judgments with respect to future economic, competitive and market conditions and future business decisions, all of which are difficult or impossible to predict accurately and many of which are beyond the control of Rodman & Renshaw Capital Group, Inc. There are or may be important factors that could cause the actual results of Rodman & Renshaw Capital Group, Inc. to materially differ from its historical results or from any future results expressed or implied by such forward looking statements. These factors include, but are not limited to, those discussed under the section entitled “Risk Factors” in the Rodman & Renshaw Capital Group, Inc. Annual Report on Form 10-K, filed March 16, 2012, which is available at the U.S. Securities and Exchange Commission website at www.sec.gov . The forward-looking statements in this press release are based upon Rodman & Renshaw Capital Group, Inc. management’s reasonable belief as of the date hereof. Rodman & Renshaw Capital Group, Inc. undertakes no obligation to revise or update publicly any forward-looking statements for any reason.
