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Bats Europe launches buy-side access to new European equities block IOI platform

First Published 20th March 2017

Buy-side firms now have access to Bats LIS, powered by BIDS technology.

Mark Hemsley, Bats Europe

Mark Hemsley, Bats Europe

London - Bats Europe, the equities exchange operator, and BIDS Trading, the operator of a US based block trading alternative trading system, have announced the buy-side focused launch of Bats LIS (Large in Scale), a new block trading service for the European equity market, on Friday, 17 March 2017.

Bats LIS is a large in scale indication of interest (IOI) negotiation and execution platform that allows market participants to negotiate large blocks in European equities without revealing their intentions to the wider market. Bats LIS leverages BIDS' software, BIDS Trader, and buy-side channel distribution, combined with Bats' infrastructure for trade execution, clearing and settlement.

Buy-side firms now have access to Bats LIS via the BIDS Trader system that integrates with buy-side Order Management Systems (OMS) and Execution Management Systems (EMS). Buy-side traders utilising Bats LIS can do so in a manner in which they are accustomed to through their existing BIDS Trader GUI.

Mark Hemsley, CEO of Bats Europe, said: "Bats LIS provides buy-side firms with control over their IOIs up until execution, which helps to protect against information leakage, while maintaining their important relationships with their brokers. Additionally, Bats LIS is unique in that it brings together the block flow of both the buy-side and sell-side, which allows for greater crossing opportunities."