Pipeline Starts Year Breaking Records
Pipeline Trading Systems LLC today announced a slew of new large-block execution quality and liquidity records set in January. The leading auto-ex source for large block liquidity posted a new record average trade size, as users amassed 60,000 shares per trade in The Block Market(TM) during the 7-day trading period ending January 25. The monthly average daily volume for January was 36 million shares, 10 percent greater than the previous best month. The average daily shares executed per name in January was over 338,000, an increase of 8 percent over the previous record. Additionally, the Algorithm Switching Engine(TM) continued to eliminate impact costs previously associated with slicing large orders into the sub-block markets and dark pools — delivering savings of 80 percent of the Bloomberg pre-trade cost estimates.
Unlike competing venues, Pipeline’s firm-order, mega-block-only model prevents predators from generating post-trade information with small, low-risk fills. Pipeline attributes the volume increase to the growing recognition of the unparalleled level of security among institutional block traders who are seeking natural contras to neutralize market impact costs.
“We pride ourselves on deploying advanced technology to help block traders maximize liquidity while deflecting predators,” said Fred Federspiel, President of Pipeline. “Using smaller, probing trades to identify, and then take advantage of, an institutional order is a pervasive tactic which harms portfolio values and hurts trader performance. In today’s fragmented and tumultuous markets, the increasing block success at Pipeline indicates that more and more traders are turning to its unique environment for a secure and effective search for natural liquidity.”
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 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 its network and systems availability and reliability have 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 FINRA and SIPC. For more information, visit www.pipelinetrading.com.
Contact: Brian Holland Pipeline Trading Systems LLC 212-370-8326 Email Contact Bill Haynes BackBay Communications 617-536-0246 Email Contact
SOURCE: Pipeline Trading Systems