Bankers Trust New York Corp. has announced that it plans to market its global trading data-distribution system to other institutions.

The system, known as BIDDS, was developed in-house by Bankers Trust in 1989.

According to terms of a recent agreement, Bankers Trust's software arm, Bankers Trust Financial Services Information Systems Corp., will jointly market BIDDS with TradeTech Americas Inc.

Over 2,500 traders around the world use the system, which manipulates market feeds and gives traders access to a wide array of analytic capabilities.

"BIDDS provides our window to the marketplace," said Eugene Shanks, president of Bankers Trust Co., in a statement last week.

"We have come to rely on it so much that whenever our senior management holds an offsite meeting, the first thing organized is access to the system irrespective of where in the world the meeting is taking place."

Through the strategic partnership, TradeTech Will install and maintain the system while both organizations will market the technology.

As part of the arrangement, TradeTech will develop new products to work with BIDDS, while Bankers Trust will be responsible for periodic upgrades to the system itself. "We have joined forces in an effort to compete against Reuters, PLC, and Micrognosis Inc., the largest players in this business," said Kerry Hindie, president of TradeTech.

"This agreement marks the first time domestically owned firms are offering full trade-support systems on the open market."

David Hinds, a managing director at Bankers Trust, called the alliance a unique effort. "The alliance is driven by a combination of our technology and their support which creates a unique opportunity that will benefit Bankers Trust, TradeTech Americas, and, more importantly, our clients," he said. "Our view is that if a client has a problem, either they are going to build a solution or purchase one, and through this alliance we have the ability to provide the solution." Mr. Hindle said the first installations resulting from the new alliance. should be completed by the end of the first quarter. He declined to comment on the cost of the system. though he noted that the price varies from installation to installation.

"The key to a successful trading environment is to increase the speed that information is made available in order to manage risk and execute transactions. BIDDS provides a powerful solution," he said.

Craig Conti, executive vice president of Femcom Associates, Inc. of Westford, Mass., said digital data systems such as the one from Bankers Trust provide trading operations with the ability to get the maximum potential from information. "Once the data is retrieved it can be used to determine unrealized profits and losses while making the operation more productive," he said.

"The key to successful trading environments is the speed at which information is delivered and digital data-distribution systems provide powerful solutions." Hoffman Estates, Ill.-based TradeTech Americas is a systems integrator and consulting firm that specializes in designing trading technology for financial institutions.

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