SOURCE: Pipeline Trading Systems, L.L.C.

June 28, 2005 20:27 ET

Pipeline Volume Sets Another Record

Over 17 Million Shares Executed

NEW YORK, NY -- (MARKET WIRE) -- June 28, 2005 -- Pipeline Trading Systems L.L.C., a registered broker/dealer and the only continuous electronic block trading marketplace open to all participants, announced that it executed a record 17,320,000 shares on June 28, 2005.

"In Pipeline's secure, pay-to-play trading environment, every order benefits from access to hidden liquidity across all sources of large blocks, not a restricted subset dictated by other models," said Fred Federspiel, President and Founder. "Free from the information leakage that accompanies indications or small trades, Pipeline's open, leakproof approach is proving its merits -- our most recent data show an average trade size of 53,128 shares, with 93.2% trading at the midpoint of the best national market quotes."

Pipeline offers a unique electronic platform where block traders can enter priced 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.

"We set out to re-invent a Block Trading marketplace so practitioners can freely exercise all their skills to achieve great executions for their clients," said Federspiel. "The response from across the institutional investment community is very encouraging, and reinforces our commitment to this mission."

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, Pipeline's 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 L.L.C. is a member of the NASD and SIPC. For more information, visit www.pipelinetrading.com.

Contact Information

  • Contact:
    Brian Holland
    Pipeline Trading Systems L.L.C.
    212-370-8326
    Email Contact