The upstart alternative block trading system, BIDS, has added another directly connected trading platform partner: UBS Pinpoint. While UBS was one of the original partners in establishing BIDS for sell-side liquidity access, the connection of BIDS to its platform further increases the number of buy-side firms that can access BIDS’ 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, according to BIDS.
Since being launched last spring, BIDS has executed over 1.6 billion shares, including a record day-volume of 64 million shares on Sept. 26. The BIDS ATS is open to sell-side firms and their sponsored buy-side firms, as well as algorithm-based, hedge fund and program traders.
