NEW YORK--(BUSINESS WIRE)--Blaylock Robert Van, LLC (“BRV”), a New York-based agency broker for institutional investors, and BIDS Trading, L.P., the Alternative Trading System (“ATS”) designed to increase competition and liquidity in the U.S. equity block trading market, are pleased to announce the signing of a sponsorship agreement. This agreement provides BRV’s clients with anonymous, direct access to liquidity in BIDS Trading’s crossing network while earning Minority Business Enterprise (“MBE”) credits.
“This is a very exciting development,” said Steven Singleton, Executive Vice President and Director of Institutional Equities for Blaylock Robert Van. “The sponsor agreement with BIDS Trading extends the flexibility and utility of our execution services by providing clients direct access to necessary anonymous liquidity, increasing their options with regards to satisfying MBE goals. In short, they don’t have to do these orders away. This is tremendous for everyone.”
Blaylock Robert Van, LLC offers its clients, which include large institutional equity fund managers, pension funds, hedge funds, and small to mid-sized institutional investors, personalized service, access to the firm’s extensive contacts and technology-driven trading strategies, and an accomplished, trusted, portfolio trading desk. Through its agreement with BIDS Trading, BRV’s customers are now able to directly and anonymously source block liquidity in both BIDS Trading and NYBX. This provides institutions with MBE targets a convenient way to boost their MBE use without forcing them to avoid direct-access options.
“Our goal is to encourage the broadest possible market participation and we are pleased to provide access to Blaylock Robert Van’s client base and address their needs for anonymous block trading,” said Tim Mahoney, Chief Executive Officer of BIDS Trading.
BIDS Trading allows market participants to trade large blocks of equities without revealing their order. Information disclosure is controlled by the trader via customizable trading tools: traders set their minimum block size to help protect their order and they can filter out counterparties based on past trading behavior.
BIDS Trading participants have simultaneous access to both the BIDS ATS and the New York Block Exchange (“NYBX”). NYBX, a revolutionary joint venture between BIDS Trading and NYSE Euronext, is the first joint trading venture between an ATS and an exchange. NYBX provides investors with access to both displayed and hidden interest on the NYSE, without revealing trading intentions.
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, BIDS Trading resolves the classic paradox of the block trader – the need to find legitimate trading counterparties without prematurely revealing trading intentions. For more information, visit www.bidstrading.com.
ABOUT BLAYLOCK ROBERT VAN, LLC
Blaylock Robert Van, LLC, (“BRV”), is a minority-owned investment banking and financial services company. BRV provides a global electronic equity and fixed income trading platform with direct market access to over 40 worldwide exchanges, and a proprietary web-based research platform designed to specifically address the needs of fundamental portfolio managers and analysts.
BRV is the combination of Blaylock & Company, founded in 1993 by Ron Blaylock, and Robert Van Securities, founded by Eric Van Standifer in 1991. Blaylock, an east coast based minority-owned investment banking boutique, joined with Robert Van Securities, a minority-owned west coast broker-dealer. The combined firm offers a suite of high-value services including capital markets strategies for a blue chip client roster consisting of America’s largest corporations, financial institutions, municipalities and high net worth clients. Members of FINRA, MSRB & SIPC, BRV is one of the most recognizable and innovative financial services firms in the United States.
Blaylock Robert Van maintains its headquarters in New York City and offices in Oakland, CA, Chicago, IL, and Miami, FL.
©2011 New York Block Exchange, LLC. NYBXSM and New York Block ExchangeSM are service marks of NYSE Group, Inc. and are used by New York Block Exchange, LLC under license. BIDS Trading® is a member of FINRA, NYSE, and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.