TradingScreen Inc.(TS), the all-asset class order and execution management system (OEMS), today announced a strategic partnership withBIDS Trading(BIDS), the largest block trading ATS by volume in the U.S. and the technology behindCboe LISin Europe.
TS customers will benefit from enhanced order access and execution capabilities for equities through the integration of the BIDS Trader front-end into TradeSmart, a one-touch OEMS workflow solution, designed to support best execution across all asset classes. TS clients in the U.S. and Europe will benefit from the seamless access to the largest block provider of liquidity in the U.S. and Cboe LIS growing liquidity pool in Europe.
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, said Tim Mahoney, BIDS CEO.
BIDS technology uniquely solves for effective equities block trading. Market participants are able to trade large blocks of equities without revealing their order. Information disclosure is controlled by the trader via customizable trading tools, such as BIDS Scorecards & Filters which can filter out counterparties based on past trading behavior. Cboe LIS licenses BIDS technology to power their matching engine and the BIDS Trader software provides access to both venues from the same platform.
BIDS has grown over the past decade to become one of the dominant players in the space and we know that customers around the world will benefit from access to the institutional liquidity pool. BIDS has always had a unique focus on the broker relationship and we look forward to an ongoing relationship with BIDS and Cboe LIS, said Varghese Thomas, TradingScreen Chief Operating Officer and Chief Strategy Officer.
Operating in the cloud for nearly two decades, TS is a leading expert on SaaS trading technology. TradeSmart OEMS offers workflow efficiency and seamless integration with the buy-side, connecting with markets globally and providing traders the access and information they need to optimize their trading performance.