Rosenblatt Securities has signed an agreement with BIDS Trading, to provide its clients with direct access to the BIDS Trading non-displayed trading venue, also known as a dark pool.
Later this year, BIDS Trading and the NYSE Euronext plan to launch a joint venture that will allow dark orders to interact with both displayed and reserve orders from the NYSE, in an attempt to improve execution quality and access to liquidity for block trading.
“Our traders have been early adopters of dark pools, seeking best execution for clients in BIDS Trading and many other venues for quite some time,” says Joe Gawronski, President and COO of Rosenblatt. “Our results in BIDS Trading have been quite positive, so we’re happy to be able to also give our customers the flexibility to access it directly from their desktops if they so choose. We’re also excited about BIDS Trading’s pending joint venture with NYSE, which for the first time will link the exchange’s deep displayed liquidity with a dark pool, making BIDS Trading an even more desirable venue for institutions to access directly.”
“Being selected by Rosenblatt, a leader in market structure analysis and an authoritative source of monthly adjusted volume figures, is a testament to BIDS Trading’s approach, early success and future prospects,” says Tim Mahoney, CEO of BIDS Trading.