SOURCE: Pipeline Trading Systems

January 10, 2007 10:34 ET

The Pipeline Block Market Ends 2006 With Record Growth

Average Daily Volume Grows by 124%

NEW YORK, NY -- (MARKET WIRE) -- January 10, 2007 -- Pipeline Trading Systems LLC, the only continuous, auto-execution block marketplace, announced today that the Average Daily Volume executed through the firm's leak-proof and predator-proof venue during 2006 grew by 124%, with the most recent daily volumes topping 32 million shares. Also exhibiting tremendous growth is the size of the Pipeline trading community which more than doubled to over 420 firms. Pipeline continues to establish itself as a dominant source for mega-block midpoint trades, with unprecedented growth in daily transaction volume, participating firms and in executable block orders.

"The Pipeline market offers block traders a superior level of performance-enhancing trades that are simply not achievable elsewhere," said Fred Federspiel, President. "Unlike other venues, size is guaranteed on Pipeline. The predator-proof Large Block Quantity systematically eliminates predatory small order pinging, while Pipeline's unique auto-ex model prevents pre-trade information leakage."

Early in its third year of operation, 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.

"In 2007 we will have new opportunities to deliver even more impact-free large block fills," said Federspiel. "Our integration with the Charles River OMS just went live in December. Early this year, Latent Zero and Longview users will realize similar increased trading performance with maximum convenience. As more users integrate, the entire community benefits from continued improvement of Pipeline -- the industry's auto-ex marketplace for large blocks."

"We set out to re-invent the block market and give traders a better chance for best execution," said Federspiel. "The terrific growth in usage reinforces our commitment to this mission."

About Pipeline Trading Systems

New York based Pipeline Trading Systems LLC 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 LLC is a member of the NASD and SIPC. For more information, visit

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