BIDS Trading, an alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, and Linedata Services, a financial technology provider, announced on Tuesday the signing of a contract to develop joint connectivity. According to the firms, this agreement will provide a direct link between the LongView Trading order management system (OMS) and the BIDS ATS, giving users the ability to anonymously trade large blocks of US equities on BIDS Trading.
"We are pleased about adding BIDS Trading to the LongView liquidity alliance partnership," says Gregg Drumma, vice president, STP product development, Linedata Services. "Our integration provides synchronisation between the LongView Trading OMS and the BIDS ATS. In a fast growing market where alternative trading is increasingly sought after, we are committed to providing our clients with the most reliable technology paired with solutions for trade execution," he explains.
"Providing connectivity to LongView Trading's OMS will give a new, broad base of market participants the ability to execute trades on the BIDS ATS," comments Tim Mahoney, CEO, BIDS Trading. "With additional connections to more electronic trading platforms, we come closer to achieving our goal of offering buy- and sell-side firms greater access to execution and liquidity," he continues.