Clancy Financial Services, Inc. Signs Sponsor Agreeement with BIDS Trading
December 2, 2011
New York, NY – December 2, 2011 – Clancy Financial Services, a New York-based agency broker for institutional investors, and BIDS Trading, L.P., the Alternative Trading System (“ATS”) designed to increase competition and liquidity in the U.S. equity trading block trading market, are pleased to announce the signing of a sponsorship agreement. This agreement provides CFS’ clients with anonymous, direct access to liquidity in BIDS Trading’s crossing network, while earning Minority Business Enterprise (”MBE”) credits.
“This is a great opportunity for us and our institutional clients,” said Donna H. Clancy, Founder and Executive Director of CFS. “The sponsor agreement with BIDS Trading compliments the flexibility and utility of our execution services by providing clients direct access to necessary, anonymous liquidity while satisfying diversity goals.”
CFS offers its clients, which include large institutional equity fund managers, pension funds, hedge funds, and small to mid-sized institutional investors, customized service, access to the firm’s technology-driven trading strategies, and an accomplished, trusted, institutional trading desk. Through its agreement with BIDS Trading, CFS customers are now able to directly and anonymously source block liquidity in both BIDS Trading and NYBX. This provides institutions having diversity targets with a convenient way to boost their minority women owned broker dealer use without forcing them to avoid direct-access options.
“We are pleased to provide access to the client base of Clancy Financial Services and address their needs for anonymous block trading,” said Tim Mahoney, Chief Executive Officer of BIDS Trading.
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 minimum block size to help protect their order and 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 Clancy Financial Services, Inc.
Clancy Financial Services (CFS) is a NYS and NYC WBE and WBENC certified woman owned, broker dealer that provides full service execution services to institutional investors.
We are currently approved with various states and public funds including the NYC Comptroller’s Retirement Systems, Illinois, New York, Maryland, California, Washington D.C., Massachusetts, New Jersey, Pennsylvania Texas, Virginia and Illinois State Board, Illinois State Board of Investment, Illinois Municipal Retirement fund, State University Retirement System, Teachers Retirement System (TRS) of the State of Illinois, TRS State of Texas, City of Philadelphia, NYS Insurance Fund (NYSIF), Retirement System of Alabama, Port Authority of NY & NJ, NJ Transit, NY Power Authority.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
©2011 BIDS Trading® is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.
BIDS Trading Achieves New Single Day Record in 2011
August 3, 2011
Block Trading Platform Continues to Break Trading Records as Daily Volume Crosses 108 Million Shares*
New York, NY – August 3, 2011 – BIDS Trading, L.P., the alternative trading system (ATS) designed to increase liquidity in the U.S. equity block trading market, announces a new single day trading record of 108,095,802 shares executed in the BIDS ATS on August 2, 2011.
BIDS Trading has been steadily increasing its volumes. This record marks the third record volume day in ten days.
“We are very encouraged as our liquidity pool continues to grow, along with our user base. This demonstrates that we are achieving our goal of providing a venue in which buy-side and sell-side firms can trade blocks of stock anonymously and efficiently,” states Tim Mahoney, Chief Executive Officer of BIDS Trading. “Our growing volumes can be directly attributed to increased buy-side and sell-side participation. Buy-side users recognize the benefit of our sponsored-access model, which means that a buy-side trader can direct 100% of their commission dollars to the broker of their choice.”
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.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
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.
###
*BIDS ATS volume is double counted to include both sides of the transaction.
©2011 BIDS Trading® is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.
Daily Volume in the BIDS ATS Surpasses 100 Million Shares
July 22, 2011
BIDS TRADING SETS A NEW SINGLE DAY TRADING RECORD
New York, NY – July 22, 2011 – BIDS Trading, L.P., the alternative trading system (ATS) designed to increase liquidity in the U.S. equity block trading market, announces a new single day trading record of 100,933,400 shares executed in the BIDS ATS on July 21, 2011.
BIDS Trading has been steadily increasing its volumes. For the six months ending June 30, 2011, BIDS ADV was over 68 million shares*, representing more than an 85% increase from the same period in 2010.
On the record numbers, Tim Mahoney, CEO of BIDS Trading, offered, “the growth in the BIDS ATS volume is validation that both the buy-side and the sell-side contribute significantly to our liquidity pool and that buy-side users recognize the value of using their commission dollars more efficiently through the broker sponsored model.”
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.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
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.
###
*BIDS ATS volume is double counted to include both sides of the transaction.
©2011 BIDS Trading® is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.
Cowen and Company Signs Sponsorship Agreement with BIDS Trading
April 26, 2011
NEW YORK, NY – April 26, 2011 – Cowen and Company, the Broker/Dealer unit of Cowen Group, Inc. (NASDAQ: COWN), and BIDS Trading, L.P., an alternative trading system (“ATS”) designed to increase competition and liquidity in the U.S. equity block trading market, today announced the signing of a sponsorship agreement that allows Cowen and Company to provide customers direct and anonymous block liquidity in both BIDS Trading and NYBX.
“We are pleased to become a sponsoring broker with BIDS Trading, which will give our clients access to reliable liquidity in the markets,” said John O’Donoghue, Head of Equities of Cowen and Company. “This value-add service, combined with our already robust trading platform, demonstrates our commitment to best servicing our clients’ increasingly diverse trading needs.”
BIDS Trading supports a sponsored access model that allows buy-side clients to select a broker to pay for their trading activity in the BIDS ATS. Buy-side clients benefit by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners. 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.
“We are very excited to add a firm of Cowen and Company’s caliber to our growing list of sponsoring brokers,” said Tim Mahoney, CEO of BIDS Trading. “This agreement furthers our efforts to continue to create an open, efficient marketplace in the BIDS ATS, and offer the broadest participation and deepest liquidity pool possible to anonymously trade blocks of U.S. equities.”
Media Contacts
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
Peter Poillon, Cowen Group, Inc.
Email: peter.poillon@cowen.com
Tel: +1.646.562.1983
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 Cowen and Company
Cowen Group, Inc. is a leading diversified financial services firm providing alternative investment management, investment banking, research, and sales and trading services through its business units, Ramius and Cowen and Company. Its alternative investment management products include hedge funds, fund of funds, real estate funds, healthcare royalty funds, cash management and commodity trading funds, offered primarily under the Ramius name. Cowen and Company offers industry focused investment banking for growth-oriented companies, domain knowledge-driven research and a sales and trading platform for institutional investors. Founded in 1918, the firm is headquartered in New York and has offices located in major financial centers around the world. For more information, visit www.cowen.com.
©2011 New York Block Exchange, LLC. NYBXSM and New York Block ExchangeSM are service marks of NYSE Group, Inc. and are used by New York Block Exchange, LLC under license. BIDS Trading® is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.
Blaylock Robert Van, LLC Signs Sponsor Agreement with BIDS Trading
April 19, 2011
NEW YORK, NY – April 18, 2011 – Blaylock Robert Van, LLC (“BRV”), a New York-based agency broker for institutional investors, and BIDS Trading, L.P., the 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. This agreement provides BRV’s clients with anonymous, direct access to liquidity in BIDS Trading’s crossing network while earning Minority Business Enterprise (“MBE”) credits.
“This is a very exciting development,” said Steven Singleton, Executive Vice President and Director of Institutional Equities for Blaylock Robert Van. “The sponsor agreement with BIDS Trading extends the flexibility and utility of our execution services by providing clients direct access to necessary anonymous liquidity, increasing their options with regards to satisfying MBE goals. In short, they don’t have to do these orders away. This is tremendous for everyone.”
Blaylock Robert Van, LLC offers its clients, which include large institutional equity fund managers, pension funds, hedge funds, and small to mid-sized institutional investors, personalized service, access to the firm’s extensive contacts and technology-driven trading strategies, and an accomplished, trusted, portfolio trading desk. Through its agreement with BIDS Trading, BRV’s customers are now able to directly and anonymously source block liquidity in both BIDS Trading and NYBX. This provides institutions with MBE targets a convenient way to boost their MBE use without forcing them to avoid direct-access options.
“Our goal is to encourage the broadest possible market participation and we are pleased to provide access to Blaylock Robert Van’s client base and address their needs for anonymous block trading,” said Tim Mahoney, Chief Executive Officer of BIDS Trading.
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.
BIDS Trading participants have simultaneous access to both the BIDS ATS and the New York Block Exchange (“NYBX”). NYBX, a revolutionary joint venture between BIDS Trading and NYSE Euronext, is the first joint trading venture between an ATS and an exchange. NYBX provides investors with access to both displayed and hidden interest on the NYSE, without revealing trading intentions.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
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 Blaylock Robert Van, LLC
Blaylock Robert Van, LLC, (“BRV”), is a minority-owned investment banking and financial services company. BRV provides a global electronic equity and fixed income trading platform with direct market access to over 40 worldwide exchanges, and a proprietary web-based research platform designed to specifically address the needs of fundamental portfolio managers and analysts.
BRV is the combination of Blaylock & Company, founded in 1993 by Ron Blaylock, and Robert Van Securities, founded by Eric Van Standifer in 1991. Blaylock, an east coast based minority-owned investment banking boutique, joined with Robert Van Securities, a minority-owned west coast broker-dealer. The combined firm offers a suite of high-value services including capital markets strategies for a blue chip client roster consisting of America’s largest corporations, financial institutions, municipalities and high net worth clients. Members of FINRA, MSRB & SIPC, BRV is one of the most recognizable and innovative financial services firms in the United States.
Blaylock Robert Van maintains its headquarters in New York City and offices in Oakland, CA, Chicago, IL, and Miami, FL.
©2011 New York Block Exchange, LLC. NYBXSM and New York Block ExchangeSM are service marks of NYSE Group, Inc. and are used by New York Block Exchange, LLC under license. BIDS Trading® is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.
Westminster Research Signs Sponsor Agreement with BIDS Trading
February 18, 2011
NEW YORK, NY – February 18, 2011 – BIDS Trading today announced an agreement to allow clients the ability to trade via BIDS to credit their Westminster Research accounts. Westminster Research is a subsidiary of ConvergEx Group, a leading technology company.
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.
“Westminster Research is a great addition to our growing list of sponsoring brokers,” said Tim Mahoney, CEO, BIDS Trading. “Our sponsorship model is significant because it allows our buy-side clients to seek block liquidity in BIDS while directing their commission dollars to credit their Westminster Research accounts.”
“We are very pleased to add BIDS Trading to our network of executing brokers and platforms,” said John Meserve, chief executive officer of ConvergEx’s Westminster Research Associates. “Our goal is to provide clients with the flexibility to leverage market leading execution venues to accrue research credits with us. Westminster Research continues to be the premier provider of commission management solutions and our agreement with BIDS Trading allows clients to access their unique liquidity while also creating a research credit.”
ConvergEx Group offers a complete suite of neutral, anonymous and transparent commission management services that encompasses every step of the commission management process from broker vote to third‐party payment.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
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.
BIDS Trading Reports Record January 2011 Volumes
February 1, 2011
76.7 million shares* traded per day in January 2011; 134% increase year-over-year.
NEW YORK, NY – February 1, 2011 – BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, today announced record trading volumes for the month of January. The dark pool traded over 76.7 million shares* per day in January, which is a 134% increase from average daily volumes the same month last year.
Additionally, BIDS Trading’s Q4 volumes of 61 million shares* marks the seventh consecutive quarter that BIDS Trading has achieved record quarterly volumes.
On the record numbers, Tim Mahoney, CEO of BIDS Trading, offered, “We are pleased that both the buy- and sell-side are finding ample block liquidity in our dark pool. The healthy mix of buy- and sell-side flow is leading to greater liquidity, more trading opportunities, and increased market share.”
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.
Media Contact
Zoë Norinsky, BIDS Trading, L.P.
Email: zoe.norinsky@bidstrading.com
Tel: +1.212.618.2600
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.
*Figures include all volume traded on the BIDS ATS and NYBX.
NYBX volume is single counted. BIDS ATS volume is double counted to include both sides of the transaction.
