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Bloomberg, BIDS Trading, Team On U.S. Liquidity Capture Service

The firms announce the start of an alliance that will create a deep liquidity pool in market that's been plagued by fragmentation.

Bloomberg LP announced it teamed up with BIDS Trading to launch a U.S. equity pool as part of a new service called BPool, which enables traders to interact with liquidity on Bloomberg's equity trading platforms and BIDS' alternative trading system.

BPool will feature the broker-sponsored access model developed by BIDS Trading, which enables buy-side traders to fully allocate commission dollars to the broker of their choice and pay for brokerage services like research, Bloomberg said. The BIDS ATS will also be BPool's order matching engine.

"The injection of Bloomberg's diverse order flow creates a deep and efficient liquidity pool in an otherwise fragmented marketplace," BIDS Trading Chief Executive Tim Mahoney said in a statement.

Bloomberg LP Chief Executive Daniel Doctoroff added that their clients will gain a more efficient way to implement trading strategies and achieve better execution results.

"BPool provides access to what the U.S. equities markets have been looking for, a centralized, active and diverse marketplace," Doctoroff said in a statement.

Bloomberg added that it made an equity investment in BIDS as part of their alliance and that Bloomberg Tradebook Chief Executive Raymond Tierney will join BIDS' board.

As the Senior Editor of Advanced Trading, Justin Grant plays a key role in steering the magazine's coverage of the latest issues affecting the buy-side trading community. Since joining Advanced Trading in 2010, Grant's news analysis has touched on everything from the latest ... View Full Bio

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