BIDS Trading, an alternative block trading system for US equities, and BNY ConvergEx, a technology provider, have forged a direct link between the Eze Castle Software order management system (OMS) and the BIDS Trading ATS. The link allows Eze OMS users to anonymously trade large blocks of US equities on BIDS Trading.
“Our clients rely on the Eze OMS to efficiently manage their investment and trading workflow. They look to us to establish connectivity with key liquidity providers, like BIDS Trading, to streamline order routing and execution between trading platforms,” said Tom Gavin, CEO of Eze Castle Software, in a statement.
Tim Mahoney, CEO of BIDS Trading, added, “We are pleased to add the Eze OMS to the twelve electronic trading platforms already connected to BIDS Trading. With each new partner, we come closer to achieving our goal of offering buy- and sell-side firms superior and anonymous execution in an open, flexible platform.”
BIDS Trading says its trading volumes continue to increase. According to the firm, average daily volume exceeded 22.6 million shares in March 2008. BIDS Trading has executed 3.65 billion shares since its launch less than a year ago.