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Publish Date : 13-Dec-2012

First Analysis Securities Corporation, the Chicago-based broker/dealer founded in 1981, and BIDS Trading, L.P., the Alternative Trading System (“ATS”) designed to increase competition and liquidity in the U.S. equity block trading market, today announced the signing of a sponsorship agreement that allows First Analysis to provide customers direct and anonymous block liquidity in the BIDS ATS.

“First Analysis is very excited to become a sponsoring broker with BIDS Trading,” said Tom Ianiro, Managing Director of First Analysis. “Our goal in working with BIDS Trading is to offer additional value-added services for our clients. Access to BIDS Trading’s non-displayed liquidity pool, along with our own quality trading solutions, is essential in building relationships with clients who are looking for liquidity while remaining anonymous in the marketplace.”

BIDS Trading supports a sponsored access model that allows buy-side clients to select a broker to pay for their trading activity in the BIDS ATS. Buy-side clients benefit by more effectively utilizing their commission dollars to pay for the goods and services provided by their broker/dealer partners. 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.

“We are very pleased to add a firm of First Analysis’s caliber to our growing list of sponsoring brokers,” said Tim Mahoney, CEO of BIDS Trading. “This agreement furthers our efforts to continue to create an open, efficient marketplace in the BIDS ATS, and offer the broadest participation and deepest liquidity pool possible to anonymously trade blocks of U.S. equities.”

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.

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