— Broker-Neutral EMS Provides Clients with Access to BIDS Trading Liquidity Pool

FlexTRADER Connects to BIDS Trading

New York, NY – September 19, 2007 – BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, and FlexTrade Systems, Inc., a leader in multi-asset algorithmic execution management systems, announced today the connection of the FlexTRADER trading platform to the BIDS Trading ATS. FlexTRADER is the first broker-neutral execution management system to allow buy-side firms direct access to the BIDS Trading ATS.

Users of FlexTRADER that are sponsored by clients of BIDS Trading can directly access the BIDS Trading ATS to trade large blocks of US equities without altering their trading workflow. In addition, FlexTRADER will support the complete suite of innovative and customized trading tools offered by BIDS Trading.

“With twelve of the largest trading firms comprising its membership, BIDS Trading is an exciting development for the market,” said Vijay Kedia, President and Chief Executive Officer of FlexTrade. “Now users of FlexTRADER will have access to a network that has the potential to cover an extraordinary amount of the industry’s share volume.”

“By expanding our reach to FlexTRADER’s global client base, we continue to deliver on our promise to become a truly open network, offering the broadest participation and deepest liquidity pool possible,” said Tim Mahoney, Chief Executive Officer of BIDS Trading. “Adding this highly-regarded industry player to the electronic trading platforms already connected to the BIDS Trading ATS allows an even greater number of buy- and sell-side firms to access its growing liquidity.”

Since the launch of BIDS Trading in April of 2007, volumes have been growing tremendously. The BIDS Trading ATS has traded over one billion shares* since its formal launch in April 2007.

FlexTRADER is a fully customizable, quantitatively enriched equity trading and execution management system with a global client base, including institutional users on the buy-side and sell-side, hedge funds, and investment managers. In addition to BIDS Trading, FlexTRADER connects to more than 100 broker dealers, all leading ECNs and primary exchanges.

The BIDS Trading ATS is accessible to both buy-side and sell-side firms that want to trade large blocks through continuous order matching and trade negotiation. Use of the BIDS Trading ATS as a block trading service is not exclusive or subject to volume commitment and each participant may continue to use any ATS, ECN or exchange service that supports the trading needs of its customer base.

The BIDS Trading ATS allows traders to control their level of information disclosure. Market participants can choose to auto-execute 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.

Media Contacts

Caroline Bujak, BIDS Trading, L.P.
+1.212.618.2097

caroline.bujak@bidstrading.com

Stephanie DiIorio, Intermarket Communications
+1.212.754.5181
sdiiorio@intermarket.com

Jim Tolve, Flextrade Systems, Inc.

+1.516.627.8993, ext. 222
James.Tolve@flextrade.com

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 FlexTrade Systems

Founded in 1996, FlexTrade Systems Inc. is the industry pioneer and global leader in broker-neutral algorithmic trading platforms and execution systems for equities, foreign exchange and listed derivatives. With offices in North America, Europe and Asia, FlexTrade has a worldwide client base spanning more than a 120 buy- and sell-side firms, including many of the largest investment banks, hedge funds, asset managers, commodity trading advisors and institutional brokers. For more information, visit FlexTrade Systems at www.flextrade.com.

* Figures are double-counted, to include both sides of the transaction.