Barclays Capital joins current investors BofA Merrill Lynch, Citi, Credit Suisse Group, Deutsche Bank, Goldman Sachs Group, JPMorgan Chase, Knight Capital Group, Lehman Brothers, Morgan Stanley, Nyse Euronext and UBS, bringing the total number of investors in BIDS Trading to 12.
BIDS Trading allows market participants to trade large blocks of equities without revealing their order. Information disclosure will be controlled by the trader via customizable trading tools: traders set their minimum block size to help protect their order and they can filter out counterparties based on past trading behavior.
Moreover, BIDS Trading participants have simultaneous access to both the BIDS ATS and the New York Block Exchange (NYBX), a joint venture between BIDS Trading and NYSE Euronext. NYBX provides investors with access to both displayed and hidden interest on the Nyse, without revealing trading intentions.
Brian Fagen, head of equities electronic trading distribution at Barclays Capital, said: “This investment is part of Barclays Capital’s efforts to provide our clients with intelligent and efficient access to diverse pools of liquidity.”
Tim Mahoney, CEO of BIDS Trading, said: “We are thrilled to have Barclays Capital join the eleven firms that have invested in BIDS Trading. This level of industry support, along with our ever-increasing user base, continues to validate the BIDS Trading model. We look forward to working closely with Barclays Capital as we continue our mission to grow our liquidity pool and provide an efficient platform for institutional investors to trade blocks of shares.”
