BIDS Trading Signs Sponsor Agreement with Industry Leading Minority Investment Banking (MBE) Firm Melvin & Company.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- BIDS Trading, the alternative trading system The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. (ATS) designed to increase competition and liquidity in the U.S. equity block trading market, and Melvin & Company, an institutional research and trading firm dedicated to promoting socially responsible investing Socially responsible investing describes an investment strategy which combines the intentions to maximize both financial return and social good. In general, socially responsible investors favor corporate practices which are environmentally responsible, support workplace diversity, , today announced an agreement that will allow Melvin & Co. to provide its clients with direct access to BIDS Trading's U.S. equity block trading platform. Melvin & Co., which seeks to foster minority participation in the financial industry, offers clients sponsored access to the markets through its experienced domestic and international equity trading In finance, equity trading is the buying and selling of company stock shares. Shares in large publicly-traded companies are bought and sold through one of the major stock exchanges, such as the New York Stock Exchange, London Stock Exchange or Tokyo Stock Exchange, which serve as desks. Firm traders utilize the very latest in technological innovations and connectivity in order to minimize market impact and secure the best-price execution for investors. Through its contract with BIDS Trading, Melvin & Co. will continue to serve its clients by offering them the option of directly sourcing liquidity in the BIDS ATS non-displayed trading venue. "Through the BIDS (ATS), we are able to offer our clients liquidity and access to counterparties to execute their strategies with speed and anonymity, thereby helping to mitigate opportunity costs Opportunity costs The difference in the actual performance of a particular investment and some other desired investment adjusted for fixed costs and execution costs. It often refers to the most valuable alternative that is given up. and potential leakage," said John Sydnor, Chief Operating Officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. of Melvin and Company. "We are looking forward to providing Melvin & Co.'s clients with the ability to anonymously access block liquidity on the BIDS Trading platform," said Tim Mahoney
Timothy Edward "Tim" Mahoney (born August 15, 1956) is the U.S. Representative for Florida's At-large congressional district. , CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of BIDS Trading. "This agreement furthers our efforts to continue to create an open, efficient marketplace on the BIDS ATS, and offer the broadest participation and deepest liquidity pool possible to anonymously trade blocks of U.S. equities." The BIDS ATS is designed to level the playing field for block trading and to treat all firms equally. In addition to allowing open access to both buy-side and sell-side firms, the BIDS ATS is open to algorithms, hedge funds and program traders. Traders 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. Volume on the BIDS ATS has reached more than 6.6 billion shares* since its launch in 2007, with average daily volume reaching 27.3 million shares* in September 2008. 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, the BIDS ATS resolves the classic paradox of the block trader Block trader A dealer who will take a position in the block trades to accommodate customer buyers and sellers of blocks. See: Dealer, market maker, principal. - the need to find legitimate trading counterparties without prematurely revealing trading intentions. The BIDS ATS is open to all qualifying broker-dealers and their institutional clients, subject to basic credit and regulatory requirements. For more information, visit www.bidstrading.com. About Melvin & Company Melvin & Company is a Chicago-based institutional research and trading firm with a track record of over 19 years of securities trading and underwriting experience. Chris Melvin founded the firm in 1989 and since its inception it has grown steadily and is currently one of the nation's premier boutique securities firms. Melvin & Company is a proud member of The Social Investment Forum (SIF), the only national membership organization dedicated to promoting the concept, practice and growth of socially responsible investing. Melvin & Company seeks to promote socially responsible investing by fostering minority participation in the financial industry, by emphasizing Clean Energy equity research, and by conducting sustainability research and advocacy. For more information, visit www.melvinco.com. * Figures are double-counted, to include all volume traded on the BIDS Trading ATS (i.e., both sides of the transaction). BIDS Trading, L.P. ("BIDS Trading") is a member of FINRA FINRA Financial Industry Regulatory Authority (formerly Securities Industry Regulatory Authority) and SIPC (Simply Interactive PC) An earlier umbrella term from Microsoft and Intel for a PC that works like a home appliance. For example, it has a sealed case, uses external connectors for expansion and boots in just a couple of seconds. . BIDS Trading and the BIDS Trading mark are protected in the United States and in countries throughout the world. |
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