The BIDS ATS is open to sell-side firms and their sponsored buy-side firms, as well as algorithms, hedge funds and program traders. BIDS Trading offers customizable tools to empower end-users to successfully negotiate trades: information disclosure and minimum block size is controlled by the trader and users can choose who to trade with based on past trading behavior.
The BIDS ATS is accessible to all qualifying broker-dealers and their institutional clients, subject to basic credit and regulatory considerations. Use of the system as a block trading service 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.
Tim Mahoney, chief executive officer of BIDS Trading, said: Having Pinpoint connect to BIDS Trading serves to reinforce our sponsored access model. As the BIDS ATS continues to grow, we remain focused on our mission to unite the buy- and sell-side by developing a truly open, efficient marketplace for traders seeking to execute large block orders in an anonymous environment.
