ISI Group and BIDS Trading, an alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, are pleased to announce the signing of a sponsorship agreement. Through its agreement with BIDS Trading, ISI Group can provide customers with direct and anonymous block liquidity in both BIDS Trading and NYBX.
BIDS Trading supports a sponsored access model which means that buy-side clients select a broker to pay for their trading activity in the BIDS ATS. The buy-side client benefits by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners and the model benefits the brokers by giving them access to a new stream of commission dollars from their existing clients.
"ISI is very excited to have become a sponsoring broker with BIDS Trading," said David Memmott, Executive Managing Director, Head of Trading at ISI Group. "We look forward to working with BIDS to provide excellent service and execution for our customers."
"We are pleased to add ISI Group to our growing list of sponsoring brokers," said Tim Mahoney, CEO, BIDS Trading. "Our sponsorship model is unique because it allows our buy-side clients to seek block liquidity in BIDS while directing their commission dollars to pay brokers such as ISI Group."
BIDS Trading allows market participants to trade large blocks of equities without revealing their order. Information disclosure is 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.
About BIDS Trading, L.P.
BIDS Trading, L.P. is a registered broker-dealer and the operator of the BIDS Alternative Trading System (ATS), which was designed to bring counterparties together to anonymously trade large blocks of shares. Developed by a consortium of leading financial services firms, BIDS Trading resolves the classic paradox of the block trader - the need to find legitimate trading counterparties without prematurely revealing trading intentions. For more information, visit www.bidstrading.com.
About ISI Group
ISI Group Inc. is a registered broker-dealer and producer of macro and fundamental research. ISI's macro effort focuses on research in economics, policy, technical analysis, company surveys, tech strategy, accounting and tax policy, and China. ISI's fundamental approach focuses on research in technology, consumer, healthcare, energy, industrials, banks research, and real estate. The firm's research reports are delivered to our institutional equity and bond clients around the globe, with each account covered by ISI salespeople and traders.
Ed Hyman and Nancy Lazar founded ISI Group in 1991. Vinayak Singh is President of ISI Group, which consists of 169 employees.
Equity and bond trades are directed to ISI's trading team headed by David Memmott. Bill Foley heads ISI's Sales Team. Steve Killorin heads ISI's financial and compliance areas and is responsible for ISI's support and operations teams.
BIDS Trading, L.P. ("BIDS Trading") is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and in countries throughout the world.
Contacts:
BIDS Trading Media Contacts
Caroline Bujak, BIDS Trading,
L.P. +1.212.618.2097
caroline.bujak@bidstrading.com
or
Drew
Mauck, 3PTs Communications, +1.773.203.5456
Drew@3PTsComm.com