|By Marketwired .||
|February 3, 2014 02:35 PM EST||
NEW YORK, NY -- (Marketwired) -- 02/03/14 -- BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, today announced record block trading volumes for the month of January. Total volume in BIDS averaged more than 86 million shares per day in January. Block trade volume accounted for more than 32 million shares, which was up 88% year over year.
Additionally, in 2013, the number of prints that were greater than 10% ADV was up 25% over the previous year. On the record numbers, Tim Mahoney, CEO of BIDS Trading, offered, "We are pleased with the growth in overall volume and, more importantly, block liquidity in our dark pool. We have focused a great deal of our efforts on improving order interaction and messaging to better facilitate block trades. The healthy mix of buy-side flow and algorithmic flow from the sell-side is leading to greater liquidity, more trading opportunities, and increased market share."
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.
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. For more information, visit www.bidstrading.com.
*Block trades are trades of 10,000 shares or more. Volumes include trades executed in the BIDS ATS. BIDS ATS volume is double counted to include both sides of the transaction.
©2014 BIDS Trading® is a member of FINRA and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.
BIDS Trading, L.P.