BIDS Trading

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BIDS Trading, L.P.
Products	Broker-dealer and ATS

BIDS Trading, L.P. is a registered broker-dealer and operates the BIDS Alternative Trading System (ATS), which was designed to bring counterparties together to anonymously trade large blocks of shares. The ATS was developed by a consortium of financial services firms to help block traders find legitimate trading counterparties without prematurely revealing their trading intentions.

BIDS Trading is a joint venture of: Bank of America (NYSE: BAC), Citi (NYSE: C), Credit Suisse Group (NYSE: CS), Deutsche Bank (NYSE: DB), The Goldman Sachs Group, Inc. (NYSE: GS), JPMorgan Chase & Co. (NYSE: JPM), Knight Capital Group, Inc. (NASDAQ: NITE), Lehman Brothers (NYSE: LEH), Merrill Lynch (NYSE: MER), Morgan Stanley (NYSE: MS), NYSE Euronext (NYX), and UBS (NYSE: UBS)

BIDS is also planning a joint venture with NYSE towards the end of 2008 to allow dark orders on BIDS to interact with displayed and reserve orders on NYSE.

Share volume on BIDS has reached 5.8 billion since its launch in 2007. In July 2008 it achieved an average daily volume of 24.65 million shares. (Figures were double counted to include both sides of transactions).^[1]