Pipeline Users Execute Record Volume
Block Marketplace Trades Over 24 Million Shares
NEW YORK, NY --
(MARKET WIRE)
-- 01/26/2006 -- 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:
Brian Holland
Pipeline Trading Systems LLC
212-370-8326
Email Contact
SOURCE: Pipeline Trading Systems LLC
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