Daily Volume on BIDS Trading Surpasses 53 Million Shares
NEW YORK, NY – April 15, 2010 – BIDS Trading, the alternative trading system (ATS) designed to increase liquidity in the U.S. equity block trading market, yesterday announced another single day trading record for 2010. BIDS Trading executed more than 53 million shares* on April 14th, surpassing its previous single day record on April 7th of 46 million shares*.
Since its launch in 2007, BIDS Trading has been steadily increasing its volumes, achieving a year-to-date ADV of over 30 million shares* and record ADVs in Q4 2009 and Q1 2010. Along with its growing trade volumes, BIDS Trading has been adding to its broad user base of buy-side and sell-side firms. Participating buy-side firms collectively manage more than $4 trillion in equity assets.
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, allows non-displayed liquidity to anonymously access both the displayed and reserve liquidity of the NYSE order book, creating an innovative platform to re-aggregate blocks of stock.
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.