Bids Trading, an alternative trading system, and Linedata Services, a financial technology provider, have announced the signing of a contract to develop joint connectivity.
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.
The Bids ATS is accessible to both buy-side and sell-side firms that want to trade large blocks through continuous order matching and trade negotiation. Use of the BIDS ATS as a block trading service is not exclusive or subject to volume commitment and each participant may continue to use any ATS, ECN or exchange service that supports the trading needs of its customer base.
The Bids ATS allows traders to control their level of information disclosure. Market participants can choose to auto-execute their order or negotiate, they can set their minimum block size to help protect their order, and they can filter counterparties based on past trading behavior.