|By Business Wire||
|May 20, 2014 02:50 PM EDT||
Tripleshot, which provides an alternative to public stock markets, announced that the United States Patent and Trademark Office (USPTO) awarded a U.S. patent related to its institutional trading network.
On May 20, 2014, the USPTO issued US Patent No. 8,732,065, entitled “Electronic Trading System and Method.” The patent covers novel solutions to one of the most vexing and fundamental market problems: how to find a trading counterparty without revealing trading intentions before a trade occurs.
As highlighted in the recent bestseller Flash Boys, one of the most effective ways for institutional investors to avoid the negative impact of predatory high-frequency trading is to trade in size. Prior to Tripleshot, attempting to trade a large block of stock carried its own risk: traders were forced to disclose at least some of their trading intentions (i.e. order information) for the chance to trade. Tripleshot’s patented technology effectively reduces pre-trade information risk to zero.
“Tripleshot’s camouflage technology works. This is the first block trading solution where we don’t worry about getting gamed,” said Dave Brooks, Head of Global Equity Trading at The Boston Company Asset Management, a leading Boston-based equities manager for BNY Mellon with $50 billion in assets under management.
Tripleshot’s first 75 clients collectively manage over $7 trillion and include 12 of the top 25 largest US equity asset managers. The average trade on Tripleshot is over 100 times larger than the typical trade on an exchange or broker dark pool.
“Building an institutional trading network from the ground up isn’t easy, and we have plenty of work to do,” said Michael Hayes, Tripleshot’s founder and CEO. “But if you provide a truly innovative method for bringing buyers and sellers together, the potential upside is significant.”
Tripleshot currently provides its unique trading methodology to US equities markets and is in early discussions with prospective investors regarding potential use in fixed income, options, derivatives and international equities markets.
Tripleshot was founded to help global institutional asset managers implement their investment decisions more effectively. For more information on Tripleshot, please visit www.tripleshot.com. Tripleshot LLC is a member of FINRA/SIPC and a SEC-registered Alternative Trading System (ATS).
© 2014 Tripleshot LLC
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