|[May 20, 2014]
Tripleshot Announces Patent for Innovative Trading Platform
BOSTON --(Business Wire)--
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 tock 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
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 (News - Alert)-registered
Alternative Trading System (ATS).
© 2014 Tripleshot LLC
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