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Advent Software Partners with BIDS Trading

Posted: 20 March 2009

Advent Software has announced that it has partnered with BIDS Trading, the alternative trading system (ATS) designed to increase competition and liquidity in the U.S. equity block trading market. The collaborative relationship with BIDS Trading offers expanded trading integration options for Advent's more than 850 Moxy clients, and extends Advent's trading footprint in the asset management industry.

Moxy is Advent's trade order management solution (OMS), and serves as the hub of the trading desk by providing connectivity to the markets and critical trading tools for its users. Moxy clients will be able to access the liquidity they need through a real-time integration with BIDS Trading while maintaining the control and choice traders need to implement a firm's strategy in the marketplace.

Through the integration with BIDS Trading, Moxy clients can search for block liquidity in both the BIDS ATS and the New York Block Exchange (NYBX), the recently launched joint venture of BIDS Holdings and NYSE Euronext. The NYBX is the first venue of its kind to allow non-displayed liquidity to anonymously access both the displayed and reserve liquidity of the NYSE order book.

The BIDS ATS is accessible to both buy-side and sell-side firms that want to trade blocks through continuous order matching and trade negotiation. 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.

 

 

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