Portware, a trading solutions provider, has integrated its broker-neutral trading platform with BIDS Trading’s alternative trading system (ATS). The connection enables Portware’s buy- and sell-side clients to execute large equity trades on the BIDS ATS via Portware’s flagship Enterprise trade management platform, the firm says.
Backed by twelve broker-dealers, BIDS Trading enables asset managers and professional investors to locate large blocks of natural liquidity in US equities.
“In today’s competitive market environment, an increasing number of firms are looking for the most efficient platform to trade large volumes," comments Tim Mahoney, CEO, BIDS Trading. "By connecting to the BIDS ATS, Portware’s buy- and sell-side clients are able to access liquidity with minimal risk of information leakage. Since its formal launch in early 2007, the BIDS ATS has executed more than 2 billion shares,” he adds.
The BIDS ATS allows traders to control their level of information disclosure. Market participants can choose to auto-execute their order or negotiate, set their minimum block size to help protect their order, and filter out counterparties based on past trading behaviour.
"As block trading becomes increasingly competitive, BIDS Trading offers a compelling alternative for buy- and sell-side traders,” comments Eric Goldberg, CEO, Portware.