Pipeline Trading Systems LLC announced that it executed a record 21,560,000 shares on September 30, 2005.
“Traders are realizing the tremendous advantage Pipeline delivers over electronic systems that contribute to price formation pre-trade,” said Fred Federspiel, president and founder of Pipeline. “With Pipeline, no one knows whether you’re buying or selling pre-trade, so you don’t have to impact the market to execute a large block. Free from the information leakage that accompanies indications or small trades, Pipeline’s open, leakproof approach is consistently delivering mega-block transactions at current market prices — our most recent data show an average trade size of 43,821 shares, with 94% trading at the midpoint of the best national market quotes.”
“We set out to re-invent a Block Trading marketplace where traders are empowered to achieve great executions for their clients and significantly avoid what we think are unnecessary market impact costs,” said Federspiel. “The response from across the institutional investment community is very encouraging, and reinforces our commitment to this mission.”