BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, and FlexTrade Systems, Inc., a leader in multi-asset algorithmic execution management systems,
announced today the connection of the FlexTRADER trading platform to the BIDS ATS.
FlexTRADER is the first broker-neutral execution management system to allow buy-side firms direct access to the BIDS ATS.
Users of FlexTRADER that are sponsored by clients of BIDS Trading can directly access the BIDS ATS to trade large blocks of US equities without altering their trading workflow. In addition, FlexTRADER will support the complete suite of innovative and customized trading tools offered by BIDS Trading.
âWith twelve of the largest trading firms comprising its membership, BIDS is an exciting development for the market,â said Vijay Kedia, President and Chief Executive Officer of FlexTrade. âNow users of FlexTRADER will have access to a network that has the potential to cover an extraordinary amount of the industryâs share volume.â
âBy expanding our reach to FlexTRADERâs global client base, we continue to deliver on our promise to become a truly open network, offering the broadest participation and deepest liquidity pool possible,â said Tim Mahoney, Chief Executive Officer of BIDS Trading. âAdding this highly-regarded industry player to the electronic trading platforms already connected to the BIDS ATS allows an even greater number of buy- and sell-side firms to access its growing liquidity.â
Since the launch of BIDS Trading in April of 2007, volumes have been growing
tremendously. The BIDS ATS has traded over one billion shares* since its formal launch in April 2007.
FlexTRADER is a fully customizable, quantitatively enriched equity trading and execution management system with a global client base, including institutional users on the buy-side and sell-side, hedge funds, and investment managers. In addition to BIDS Trading, FlexTRADER connects to more than 100 broker dealers, all leading ECNs and primary exchanges.