NYSE Euronext Inc. (NYX) and BIDS Holdings Create Partnership
Exchange operator NYSE Euronext and BIDS Holdings LP, a broker-dealer and operator of a trading system, said Tuesday they plan a joint venture to improve execution quality and access to liquidity in block trading.
The joint venture will be open to all New York Stock Exchange members and accessible through BIDS trading platform. BIDS will also become a NYSE member. The joint venture will operate as a facility of the NYSE.
"We welcome this partnership with NYSE Euronext and expect that the joint venture will address the current inefficiencies in block trading such as market fragmentation," Tim Mahoney, chief executive of BIDS' trading platform, said in a statement.
The joint venture will be open to all New York Stock Exchange members and accessible through BIDS trading platform. BIDS will also become a NYSE member. The joint venture will operate as a facility of the NYSE.
"We welcome this partnership with NYSE Euronext and expect that the joint venture will address the current inefficiencies in block trading such as market fragmentation," Tim Mahoney, chief executive of BIDS' trading platform, said in a statement.
Labels: BIDS Holdings, NYSE Euronext Inc., NYX
posted by Stock Administrator @ 1:15 PM
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