Pipeline Financial Group Ltd, the European MTF and institutional electronic brokerage which provides block trading and specialist algorithmic trading services will launch its Block Board MTF platform at the end of May.
By adding the Block Board to its Algorithmic Switching Engine trading capability, Pipeline offers a complete trading solution for large orders.
Intrinsic to the Block Board launch is Pipeline's partnership with European Central Counterparty Limited ("EuroCCP"). EuroCCP enables Pipeline to offer clients the risk-management and cost-saving benefits of EuroCCP's cross-platform netting and settlement. EuroCCP supports Pipeline in maintaining anonymity, protecting client identities at all times both pre- and post-trade. Pipeline is also supported by BNP Paribas Securities Services ("BNP Paribas") who acts as Pipeline's agent for the trades which are not cleared centrally and which settle bilaterally.
The Block Board will commence trading in Pipeline's existing 14 European markets, offering clients a new way to achieve best execution in over 3,500 instruments. The Block Board's unique heatmap and anti-gaming technology enables clients to access liquidity without information leakage. As part of the launch, Pipeline is offering all clients the opportunity to participate in a unique liquidity programme. This offers clients discounted fees in return for executable orders, regardless of size, price or "maker/taker" status.
Diana Chan, Chief Executive Officer, EuroCCP said: "We are delighted to support the launch of the Block Board MTF platform. Our partnership with Pipeline means we are providing a robust and cost-effective post-trade service to help Pipeline develop innovative and flexible trading solutions."
"Pipeline values its relationship with EuroCCP and is proud to be supported by industry leading clearing and settlement partners." said Marcus Hooper, Executive Director, Pipeline. "EuroCCP enables Pipeline to provide a full service to sell-side customers and complements the existing settlement service provided by BNP Paribas. We look forward to building on our relationship with EuroCCP."
Pipeline will be attending TradeTech 201h 2011 from 12-14th April at the Pipeline Relaxation Lounge, Excel Centre, London.