TradingScreen partners with BIDS Trading and Cboe LIS to expand in the UK and US

TradingScreen Inc. (TS), an order and execution management system (OEMS) for all asset classes, yesterday revealed a strategic collaboration with BIDS Trading (BIDS), a U.S Alternative Trading System (ATS) that also powers the European Cboe LIS.

The new alliance will allow market participants on the buy-side to access the biggest U.S. block liquidity provider as well as Cboe LIS’ expanding European liquidity pool. Buy-side participants will now experience faster order access and execution, which will encourage competition, while removing previous bugs associated with trading shares in blocks.

BIDS CEO, Tim Mahoney, said:

With over 600 clients connected globally, we understand that partnerships that support a seamless workflow help our clients focus on driving value. This is why we are excited to partner with TradingScreen and offer our mutual clients’ additional opportunities and access.

The technology solution provided by BIDS enhance the effectiveness of equities block trading. This solution addresses both cost and liquidity issues through an ecosystem that allows market participants to execute their trades confident in the knowledge that details of a trade are only revealed once a trading opportunity arises.

The trader controls the trade information disclosed using customizable tools such as BIDS filters and scorecards to exclude certain counterparties depending on their past trades. Cboe LIS uses BIDS technology to run their trade matching engine, while BIDS Trader software allows access to both areas from one platform.

TradingScreen Chief Strategy Officer and COO, Varghese Thomas, commented:

Asset managers around the world will benefit from access to the institutional liquidity pool as BIDS becomes one of the dominant players in the space. BIDS has always had a unique focus on the broker relationship and we look forward to an ongoing relationship with BIDS and Cboe LIS.

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