Average Daily Volume on BIDS Trading Surpasses 29 Million Shares*

BIDS Trading Breaks Monthly Trading Record

Business Wire

posted: 25 DAYS 2 HOURS AGO

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BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, achieved a record average daily volume of over 29 million shares* in October. In addition to achieving this milestone, average buy-side fill rates in BIDS Trading surpassed 44%, with record buy-side trading volumes and record participant numbers.

Since its launch in the spring of 2007, BIDS Trading has traded over 13.4 billion shares*. “We have always encouraged the broadest possible market participation and our growing volumes and participant base demonstrates that we are addressing the evolving needs of today’s institutional investor” said Tim Mahoney, Chief Executive Officer of BIDS Trading.

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, is the first joint trading venture between an ATS and an exchange. NYBX provides investors with access to both displayed and hidden interest on the NYSE, without revealing trading intentions. In October, buy-side users of the NYBX through BIDS averaged an impressive 61% fill rate, with an average buy-side order size of 161,000 shares.

BIDS Trading is accessible to all qualifying broker-dealers and their institutional clients, subject to basic credit and regulatory considerations. BIDS Trading 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 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 (i.e., both sides of the transaction).

BIDS Trading, L.P. (“BIDS Trading”) is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and in countries throughout the world.