NYSE-Bids Block Exchange Launches

- WatersTechnology Staff
- 02 Feb 2009

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The new 50-50 joint venture, dubbed the New York Block Exchange (NYBX), received approval from the U.S. Securities and Exchange Commission (SEC) and will operate as a facility of NYSE.

According to Tim Mahoney, CEO of Bids Trading, the firms were looking to solve the block-trading dilemma. "NYBX interfaces between the display, the reserve and the dark liquidity ... to aggregate and create blocks at different price points," he says.

The NYSE Arca team developed the coding and the technology for the

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