BIDS TRADING REPORTS 4 BILLION SHARE VOLUME IN FIRST YEAR

Posted April 29, 2008

NEW YORK – Alternative trading system BIDS Trading has completed its first 12 months of activity with more than 4 billion shares traded and an average daily volume that topped 22.6 million shares in March 2008, according to the company.

“We have surpassed our own expectations during our first year of operation, and we are very encouraged with the growing number of clients who continue to support BIDS Trading as an efficient platform for anonymously trading blocks of equities,” says Tim Mahoney, Chief Executive Officer of BIDS Trading. “In our second year, we intend to further concentrate our efforts on continuing to connect to the buy side, in order to provide an open, low-cost platform that includes both the buy side and sell side.”

BIDS Trading is connected to 14 order management systems and execution management systems, and is planning a joint venture with NYSE Euronext to bring together displayed, non-displayed and reserve liquidity. The venture is scheduled to launch this summer, pending SEC approval.