PDQ ATS Posts Its Form ATS on Web

Another ATS has taken a step towards greater market transparency, PDQ.

PDQ Enterprises, operator of PDQ ATS announced that its Form ATS is now available for direct download on the company website.

PDQ ATS joins Credit Suisse, Barclays, ITG, KCG and Liquidnet, all of whom have posted their Form ATS on their websites to promote market transparency.

The buyside has long been clamoring for greater market transparency in these so-called “dark pools” or off-board trading venues and PDQ joins the others in meeting the buyside’s demands. Earlier this year, also reposding to the buyside’s call for more transparency in the equity market, the Financial Investment Regulatory Authority mandated that dark pools and other no public excahnges would have to report their trade data (on a delayed basis) to the public. The ATS’ and their operators, by disclosing their Form ATS and methodology for routing orders, etc, are looking to stay one step ahead of the regulators.

To See PDQ ATS Form ATS, Click Here

PDQ’s Form ATS was published Thursday.

“By posting our Form ATS online we encourage all parties to become familiar with the specifics of our process, as we believe it not only enhances fairness within equity trading, but also creates a more efficient market structure by promoting healthy competition for order flow and introducing truly unique liquidity into the marketplace,” said Jason Wallach, executive managing director of PDQ ATS.

PDQ ATS is the high-speed, electronic version of a traditional floor. It offers increased liquidity discovery and potential price improvement through order initiated auctions and the aggregation of an electronic algorithmic crowd competing for order flow. This proprietary design offers the benefits of traditional floor trading, while maintaining the anonymity and confidentiality of a dark pool. By allowing its liquidity providers to respond to orders, PDQ1s patented process delivers unique liquidity to each auction, creating improved market efficiencies for all types of traders.