NEW YORK, NY -- (Marketwired) -- 07/10/13 -- Pacific Crest Securities, the premier investment bank for technology, 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.
"We are very excited that Pacific Crest has become a sponsoring broker with BIDS Trading. This arrangement allows our clients to obtain greater liquidity and improved executions via access to BIDS Trading's non-displayed liquidity pool," said Mike Jaffe, Managing Director and Head of Trading of Pacific Crest Securities. "The BIDS ATS will be a significant addition in helping us deliver the real value our clients are seeking to achieve their investment objectives."
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.
"The connection of Pacific Crest to our block trading facility furthers our goal of creating the most efficient trading venue and deepest liquidity pool possible," said Tim Mahoney, Chief Executive Officer of BIDS Trading. "We are truly pleased to provide investors using Pacific Crest with the ability to access BIDS Trading's open, flexible platform."
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 PACIFIC CREST SECURITIES
Pacific Crest is the premier investment bank for technology, operating at the leading edge, where global connectivity is fueling an unprecedented expansion cycle. They apply their unmatched knowledge of the drivers of value creation and their global network of relationships to technology's high growth sectors, such as global Internet, mobility, SaaS, cloud and big data, next gen infrastructure and alternative energy. Their clients -- technology's foremost institutional investors and market leading companies -- rely on them to achieve superior returns and gain competitive advantage from the seismic shifts occurring in technology. For more information, visit www.pacific-crest.com.
©2013 BIDS Trading® is a member of FINRA and SIPC. BIDS Trading and the BIDS Trading mark are protected in the United States and countries throughout the world.
BIDS Trading, L.P.
Pacific Crest Securities
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