Developer of the PDQ Alternative Trading System (ATS) PDQ Enterprises has formally launched the PDQ ATS auction model. The high-speed equity trading model offers market efficiency by providing better liquidity discovery and price enhancement with the “electronic algorithmic crowd” competing for orders. The new equity trading venue, which will also deliver additional liquidity, empowers its community of liquidity providers to respond to order flow using their proprietary algorithmic trading procedures, generating real competition for order flow.

The auction market is powered by an algorithm hosting capability and response mechanism to follow the interaction and dynamism of traditional pit floor brokers, while maintaining the anonymity and confidentiality of a dark pool. This electronic algorithmic crowd allows liquidity-seeking firms to determine contra-side liquidity, while gathering block interest from multiple firms by asking the electronic version of “what is the market”.

Click here for the release from Business Wire.