FlexTRADER is a broker-neutral execution management system that allows buy-side firms to have 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.
The BIDS ATS is accessible to both buy-side and sell-side firms that want to trade large blocks through continuous order matching and trade negotiation. Use of the BIDS ATS as a block trading service is not exclusive or subject to volume commitment and each participant may continue to use any ATS, ECN or exchange service that supports the trading needs of its customer base.
The BIDS ATS allows traders to control their level of information disclosure. Market participants can choose to auto-execute their order or negotiate; they can set their minimum block size to help protect their order; and they can even filter out counterparties based on past trading behavior.
Vijay Kedia, president and CEO of FlexTrade, said: With twelve of the largest trading firms comprising its membership, BIDS is an exciting development for the market.
Now users of FlexTRADER will have access to a network that has the potential to cover an extraordinary amount of the industry’s share volume.
