18 January 2018
visit http://response.ncr.com

UBS connects Pinpoint platform to Bids ATS

04 December 2007  |  1577 views  |  0 Source: Bids Trading

Bids Trading, the newly formed alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, announced today that it has established a direct connection with an additional electronic trading platform: UBS Pinpoint.

"As one of the original partners in the BIDS Trading consortium, we are particularly pleased with the quality of liquidity in the BIDS ATS and its level of participation. Connecting Pinpoint to the BIDS ATS is another way we can provide our clients with access to institutional block liquidity - it is a real complement to UBS PIN" said Will Sterling, Head of Direct Execution at UBS.

"Having Pinpoint connect to BIDS Trading serves to reinforce our sponsored access model," said Tim Mahoney, Chief Executive Officer of BIDS Trading. "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."

This advancement further increases the number of buy-side firms that can access BIDS Trading's non-displayed liquidity pool. In addition to UBS's Pinpoint, BIDS Trading has direct connections with FlexTrade Systems, Inc.'s FlexTRADER, Goldman Sachs Execution & Clearing, L.P.'s REDIPlus, JPMorgan's Neovest, and Morgan Stanley's Passport.

A growing number of sell-side and sponsored buy-side firms are now able to anonymously trade large blocks of US equities via the BIDS ATS, increasing volume and liquidity on the BIDS platform. During the past six months, daily volumes on BIDS Trading have been steadily increasing. Over 2 billion shares* have been executed since the platform's formal launch in April 2007.

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 connsiderations. 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.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.niceactimize.comvisit www.ebaday.comvisit www.niceactimize.com

Top topics

Most viewed Most shared
Europe begins Open Banking era in subdued styleEurope begins Open Banking era in subdued...
10589 views comments | 32 tweets | 36 linkedin
Crypto mining threatened by power capacity concernsCrypto mining threatened by power capacity...
10086 views comments | 17 tweets | 18 linkedin
Wells Fargo to close 900 branchesWells Fargo to close 900 branches
9666 views comments | 14 tweets | 16 linkedin
KFC introduces Bitcoin BucketKFC introduces Bitcoin Bucket
9211 views comments | 17 tweets | 16 linkedin
FinTech Scotland appoints new CEOFinTech Scotland appoints new CEO
8165 views comments | 8 tweets | 6 linkedin

Featured job

Competitive base + commission
London, UK

Find your next job