ROSENBLATT SECURITIES ADDS ACCESS TO BIDS TRADING CROSSING SYSTEM

Posted August 14, 2008

NEW YORK – Institutional agency broker Rosenblatt Securities and alternative trading system BIDS Trading have reached an agreement for Rosenblatt clients to get direct access to BIDS Trading’s crossing system.

“Being selected by Rosenblatt, a leader in market structure analysis and an authoritative source of monthly adjusted volume figures, is a testament to BIDS Trading’s approach, early success and future prospects,” says Tim Mahoney, Chief Executive Officer of BIDS Trading.

Rosenblatt Securities’ deal with BIDS Trading is the fifth such access agreement the brokerage firm has made with a dark liquidity venue.

“Our traders have been early adopters of dark pools, seeking best execution for clients in BIDS Trading and many other venues for quite some time,” says Joe Gawronski, President and COO of Rosenblatt. “Our results in BIDS Trading have been quite positive, so we’re happy to be able to also give our customers the flexibility to access it directly from their desktops if they so choose.”

BIDS Trading is also planning a joint venture with NYSE Euronext, planned to launch later this year, allowing dark orders to interact with displayed and reserve orders from the NYSE, to improve execution quality and access to liquidity for block trading.

“We’re also excited about BIDS Trading’s pending joint venture with NYSE, which for the first time will link the exchange’s deep displayed liquidity with a dark pool, making BIDS Trading an even more desirable venue for institutions to access directly,” says Gawronski.