New York City-based Pipeline Trading Systems LLC operates the Pipeline Alternative Trading System (ATS) that enables institutions and brokerage firms to quickly and efficiently trade blocks of NYSE - listed companies, NASDAQ stocks, ADRs, and Exchange Traded Funds (ETFs). Pipeline empowers firms to execute block trades in single executions. Pipeline maintains a hidden book of large, executable limit orders with strict price time priority. Pipeline facilitates interaction between traders, enabling all real buyers and sellers to find each other anonymously and get trades done while minimizing gaming. Pipeline Trading Systems LLC is a wholly-owned subsidiary of Pipeline Financial Group, Inc.