Bidroute Launches Automated Portfolio Trade Dealing System

Daily News; White Plains › June 05, 2007

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Summary

LONDON (HedgeWorld.com) - A start-up company here headed by several veteran buy-side industry executives has launched a portfolio trading system that aims to automate and reduce the cost of program trades of baskets of shares. Executives at BidRoute Ltd. compared their approach to the eBay model of live auctions involving an online global trading community.

The system also puts in place new standards in order trail automation designed to show the price discovery process and demonstrate that fund managers are getting best execution. New disclosure rules due in November under the European Commission's Markets in Financial Instruments Directive or MiFID will require managers to show this.

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Bidroute Launches Automated Portfolio Trade Dealing System

"We're aiming to help a market that is undergoing greater investor and regulatory scrutiny," sai...

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