Penserra to Offer Sponsored Access to BIDS
Penserra Securities has signed on as the first minority-owned broker to offer sponsored access to BIDS Trading.
Penserra's clients are now able to directly source block liquidity in the BIDS Trading ATS.
In a statement, George Madrigal, managing director and co-founder of Penserra, said, "We're very excited to be able to provide our clients with sponsored access to the non-displayed liquidity in BIDS Trading. In addition to our brokerage experience, our management team has deep roots on the buy side, so we truly understand the value of direct access to a venue like BIDS Trading that allows for anonymous, block executions."
Added Tim Mahoney, CEO of BIDS Trading, "The connection of Penserra to our block trading facility furthers our goal of creating the most efficient trading venue and deepest liquidity pool possible. We are truly pleased to provide investors using Penserra with the ability to access BIDS Trading's open, flexible platform."
Penserra Securities is an agency-only broker providing execution and investment advisory services. The firm is a certified Minority Business Enterprise (MBE) and an approved broker for several large pension plans.