SOURCE: Pipeline Trading Systems LLC

January 26, 2006 15:35 ET

Pipeline Users Execute Record Volume

Block Marketplace Trades Over 24 Million Shares

NEW YORK, NY -- (MARKET WIRE) -- January 26, 2006 -- Pipeline Trading Systems LLC, a registered broker/dealer and the marketplace of choice for large block electronic trading announced that its users executed a record 24,185,600 shares on January 24, 2006. Ninety-six percent of the shares traded within the best displayed prices nationwide with an average trade size over 45,000 shares.

Kevin Connellan, Director of Equity Trading, Northern Trust Global Investments Co. said, "This just affirms my belief that their model is extremely viable and an invaluable tool for finding liquidity."

Joe Gawronski, Chief Operating Officer, Rosenblatt Securities Inc. said, "Pipeline has now entered the league of liquidity pools that cannot be ignored. It has been a real lifesaver for us on many occasions. Whether we're trading a several hundred name list for a customer or a single stock, I can tell you that being able to search for liquidity with no information leakage and actually get meaningful size done in stocks that are otherwise just trading in hundred and thousand share lots through algorithms has saved our customers real money."

Bruce Smith, Head Equity Trader, Cooke & Bieler said, "Pipeline has been very helpful to us quickly. Keep up the good work."

Additionally, Patrick Morrissey, Equity Trader, The Boston Company Asset Management, LLC said, "The Boston Company has been on board since Pipeline launched. In the beginning, there were 45 active symbols daily and now there are over 700 per day. Pipeline has been a great tool for us to find agency liquidity."

Pipeline offers a unique electronic platform where block traders can enter firm orders for large blocks of stock without the fear of the predatory practices that can occur in traditional trading venues. While Pipeline reduces such predation to the point of extinction, it expands a trader's control in an auto-ex environment. In a little over one year, 300 buy and sell side firms have embraced the Pipeline marketplace, while new clients are being added to the community on a daily basis.

"Our mission is to create a Block Trading marketplace where predatory market impact costs are eliminated, and traders are empowered to achieve great executions for their clients," said Fred Federspiel, President of Pipeline. "Pipeline's record breaking growth is one indication that we're on the right track."

About Pipeline Trading Systems LLC

New York City based Pipeline Trading Systems LLC is a registered broker-dealer and operator of Pipeline, an Alternative Trading Systems (ATS) that enables institutions and brokerage firms to quickly and efficiently trade large blocks of NYSE, AMEX, NASDAQ listed issues, ADRs, and Exchange Traded Funds (ETFs). To date, Pipeline's fill rates and the percentage of trades executing within the National Best Bid and Offer have both been strong. While Pipeline expects these trends to continue, we do not guarantee similar performance in the future. Although there has been no indication to date, high volumes, congested network or system access, and price volatility may impede trading activities and performance. Pipeline Trading Systems LLC is a member of the NASD and SIPC. For more information, visit www.pipelinetrading.com.

Contact Information

  • Contact:
    Brian Holland
    Pipeline Trading Systems LLC
    212-370-8326
    Email Contact