The new partnership will give the buy-side access to the largest block provider of liquidity in the U.S. and Cboe LIS’ growing liquidity pool in Europe. Market participants can now benefit from quicker execution and access to orders that will promote competition and remove past inefficiencies of trading blocks of shares.
“With over 600 clients connected globally, we understand that partnerships that support a seamless workflow help our clients focus on driving value. This is why we are excited to partner with TradingScreen and offer our mutual clients’ additional opportunities and access,” said Tim Mahoney, BIDS CEO.
BIDS technology uniquely solves for effective equities block trading. By building a solution, that directly addresses liquidity and cost, BIDS has created an ecosystem to enable market participants to trade with confidence knowing that trade details are only exposed when there is a true opportunity to trade. Information disclosure is controlled by the trader via customizable trading tools, such as BIDS Scorecards & Filters which can filter out counterparties based on past trading behavior. Cboe LIS licenses BIDS technology to power their matching engine and the BIDS Trader software provides access to both venues from the same platform.
“Asset managers around the world will benefit from access to the institutional liquidity pool as BIDS becomes one of the dominant players in the space. BIDS has always had a unique focus on the broker relationship and we look forward to an ongoing relationship with BIDS and Cboe LIS,” said Varghese Thomas, TradingScreen Chief Operating Officer and Chief Strategy Officer.
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.
As the leading expert in SaaS-based technology for financial markets, TradingScreen (TS) technology improves access and fully automates workflows, resulting in greater efficiencies and lower costs for our clients. From our electronic trading platforms to our investment management solutions to our global financial market network, we are the industry’s most comprehensive technology suite available. Our trading and technology experts are connected and positioned around the world, enabling a “Follow the Sun” 24-hour, six-days- a-week support approach that literally never stops. And we’re constantly evolving within a complex, ever-changing marketplace to create sophisticated, customizable and accessible solutions no matter what your trading needs. For more information visit: www.tradingscreen.com.
Marybeth Shay: email@example.com