Pipeline Trading Systems, L.L.C. a registered broker/dealer and creator of the Pipeline ATS, announced that daily transaction volume for its new block trading system has repeatedly exceeded five million shares within 10 weeks of its debut.
Alfred Berkeley, Chairman and CEO of Pipeline commented: "This is an important milestone that we did not expect so early in Pipeline's rollout. Available liquidity has grown over five fold since day one. Pipeline is clearly becoming a valuable tool for traders who want a virtually leakproof block trading environment to simply get the job done."
Pipeline provides continuous direct access to block liquidity and a simple solution to the problems of front running, penny jumping, and backing away. It was designed from scratch with the sole purpose of moving large blocks of stock without moving the market.
"Pipeline is delivering impressive fill rates and an outstanding level of block transaction quality -- over 90% of executions are done inside the National Market prices, and it's not uncommon for a trader to move over a half-million shares per day," said Fred Federspiel, President of Pipeline Trading Systems.
The Pipeline technology has been enthusiastically embraced by 78 firms. The rapidly growing community currently includes both leading brokerage firms and institutions accounting for $3.8 trillion in managed equity assets.
About Pipeline Trading Systems
New York City-based Pipeline Trading Systems L.L.C. is a registered broker/dealer and operator of Pipeline, an Alternative Trading System (ATS) that enables institutions and brokerage firms to quickly and efficiently trade large blocks of NYSE, AMEX, and Nasdaq listed issues, ADRs and Exchange Traded Funds (ETFs). To date, our fill rates and the percentage of trades executing within the National Best Bid and Offer have both been strong. While Pipeline expects those trends to continue, we do not guarantee similar performance in the future. Although there has been no indication to date, high volumes, congested system access and price volatility may impede trading activities. Pipeline Trading Systems, LLC is a member of the NASD and SIPC.