BIDS Trading, the newly formed alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, has connected to three of the industry’s leading electronic trading platforms: Goldman Sachs Execution & Clearing, L.P.’s REDIPlus, JPMorgan’s Neovest, and Morgan Stanley’s Passport.
Through these connections, institutional investors will be able to anonymously trade large blocks of US equities via the BIDS ATS. These connections mark the first opportunity for sponsored buy-side firms to join sell-side firms in executing block trades on the BIDS ATS, thus increasing overall liquidity on the platform.
“We are continuing to build considerable momentum as new users connect to the system,” says Tim Mahoney, Chief Executive Officer of BIDS Trading. “Having three of Wall Street’s leading electronic trading platforms now connected to the platform moves us closer to our goal of allowing open access to all market participants.”