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.

Next-Generation Dark Liquidity Aggregators Look Into the Light End Game: Anti-Gaming Technology in Dark Pools Tops Buy-Side Agenda Pipeline Racks up Huge Savings for Buy-Side Block Traders - Elkins/McSherry Journal of Trading: Marcus Hooper Co-Authors Article, The Limits of Liquidity Al Berkeley Presents at the STA Annual Conference Advent to Integrate with Pipeline to Expand Block Liquidity Access for Moxy® Pipeline Switching Engine Hits High Rate Dark Pool Upgrades at Credit Suisse, Pipeline Pipeline Upgrades Platform Pipeline Tweaks Algo Switching Engine Pipeline to Accept Orders From Fidessa OEMS Henri Waelbroeck, Ph.D. presents on "Information Arbitrage and Market Impact" at the CQA/SQA Trading Seminar, February 12, 2008 Pipeline Starts Year Breaking Records. Average Daily Trade Size Grows to 60,000 Shares. Pipeline Partnership Offers Optimized Execution Performance Journal of Trading: Al Berkeley Describes the Paradigm Shift in Equity Block Trading Pipeline Leads Competition in Block Execution Quality - Elkins/McSherry Pipeline's Average Trade Size Climbs to 50,773 Shares Al Berkeley - Named to Institutional Investors Online Finance Top 40 Again in 2007 Institutional Investor Magazine - Banzai Pipeline Adaptive Technologies, Inc. Exceeds Industry Standards With Predictive Analytics Solution for Pipeline Trading Systems Dark Pools’ Pricing Could Impact Routing Decisions Traders Magazine Special Report - Interview with Fred Federspiel Pipeline Develops Prediction Engine for Switching Traders into the Best Performing Algorithm QSG Study Finds Pipeline Execution System Helped Mitigate Market Impact Trading Costs Pipeline Daily Volume Surges. Agency Marketplace Chalks Up Second Record Trading Day in as Many Weeks Michael Hayes Joins Pipeline as VP, Executive Director of Client Services Pipeline Powers Past 45 Million Shares Pipeline and Linedata Services Team Up for Increased Productivity Global Investment Technology - Pipeline Integrates With ITG's Macgregor, Charles River Charles River and Pipeline Trading Systems Partner to Simplify Equity Block Trading ITG Solutions Network Announces Enhanced Connectivity Between Macgregor and Pipeline Al Berkeley - Named Institutional Investor Magazine Top 40 Pipeline Volume Soars Past 35 Million Shares. Block-Only Marketplace Continues Record Setting Momentum Pipeline Volume Surges to Record Level. Over 26 Million Shares Traded TowerGroup Research Note projects Pipeline as “…the only true 'block' trading system available.” Pipeline Block Trading Market Ends Year of Unprecedented Growth Pipeline Volume Sets Record. Agency Destination Trades Over 21 Million Shares. Pipeline Volume Sets Another Record. Over 17 Million Shares Executed.