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NYSE Euronext and BIDS Holdings announced that the SEC has approved their joint filing to launch the New York Block Exchange on January 29, 2009. NYBX will be open to all NYSE members and is also accessible through BIDS Trading, a registered alternative trading system (ATS), which has become an NYSE member
“We look forward to launching this first-of-its-kind platform, the New York Block Exchange, on January 29,” said Larry Leibowitz, Group Executive Vice President and Head of U.S. Execution and Global Technology.
“The SEC approval allows us to introduce a true revolution in block trading,” said Tim Mahoney, Chief Executive Officer of BIDS Trading. “By partnering with NYSE Euronext, NYBX orders will interact with additional market participants to provide unparalleled price discovery and access to liquidity in today’s fragmented block trading environment.”