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— Average Daily Volume Reaches 16.9 Million, 100 Percent Higher than Previous Month

355 Million Shares Traded on the BIDS Trading ATS in July

New York , NY – August 1, 2007 – BIDS Trading, the newly formed alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, announced today that 355.2 million shares* were traded on the platform in July 2007. This represents more than a 90 percent increase over the 185.7 million shares traded in June 2007.

BIDS Trading’s average daily volume for the month of July was 16.9 million, approximately 100 percent higher than the average daily volume of 8.8 million for June . In addition, more than 20 million shares were traded on five separate days during the month, including a new milestone of over 45 million shares on Friday, July 27.

BIDS Trading launched its block trading network in April of 2007. “We are excited that volume and liquidity have risen so quickly,” said Tim Mahoney, Chief Executive Officer of BIDS Trading. “As more traders gain access to the BIDS Trading ATS, we will continue to work in tandem with our clients to build the most efficient block trading venue possible.”

The BIDS Trading ATS is open to sell-side firms and their sponsored buy-side clients, algorithms, hedge funds, and program traders.

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.

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

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