Pipeline Trading Systems LLC, a registered broker/dealer and a marketplace for large block electronic trading, announced that Pipeline users executed a record 35,318,200 shares early this month, with 99.6% of the shares traded within the best displayed prices nationwide, and the average trade size was over 42,000 shares.
For the first quarter 2006, average daily volume climbed 17% above the previous quarter, and 312% above the prior year’s first quarter.
“Traders are finding that Pipeline is an impact-free tool to generate large block naturals,” said Fred Federspiel, President and Founder. “There are real cost savings when a trader can execute a mega-block agency trade inside the best market prices.”
Eighty-eight percent of all executions on Pipeline are done at the midpoint, while the average size trade is about a 100 times greater than trades executing in traditional markets.
“We envision an open block trading market where predatory market impact costs are eliminated, and traders are empowered to achieve great executions for their clients,” said Federspiel.