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Betting on BIDS Trading

Twelve of the largest trading houses have banded together to launch an electronic crossing venture. Will their clout make it the dominant system on the Street? That’s the open question now that BIDS Trading has started operating. BIDS Trading, which stands for Block Interest Discovery Service, was formed by the eleven largest investment banks and Knight Trading Group. It joins many so-called “dark pools” strewn across the trading landscape, but has the potential to become a blockbuster hit. BIDS Trading’ backers collectively control nearly three-fourths of the industry’s share volume.