Lightspeed Trading to Merge with Lime Brokerage

Discussion in 'Wall St. News' started by ajacobson, Jan 21, 2018.

  1. Lightspeed Trading, LLC, Professional Trading Solutions, Inc., and Lime Brokerage, LLC, ‎have combined their household brokerage businesses in a potentially ‎big shake-up of the U.S market.

    The firms today said that they have ‎executed an asset purchase agreement to create a new parent company of combined ‎businesses, with sponsorship from an investor group.‎

    The collaboration is important as it will combine the ‎advanced trading capabilities of each ‎venue to the benefit of domestic and global traders in the ‎futures and equities space. Financial details were not disclosed.‎

    Lightspeed Trading, a FINRA and NFA member, is headquartered in New ‎York City and provides brokerage services to professional traders, ‎proprietary trading firms, and hedge funds. The firm’s client base covers ‎traders of stocks, options, futures, and ETFs through its Direct Market ‎Access(DMA) technology.‎

    Lime Brokerage LLC, a wholly-owned subsidiary of Wedbush, Inc., ‎is an agency brokerage firm known for its ultra low-latency and trading ‎technologies serving high frequency traders. ‎

    If the move goes ahead, which is expected to close by the end of Q1 2018, pending ‎regulatory approval, it would see the birth of one of the biggest brands in ‎the US brokerage market.

    The focus of this initiative is both global and domestic, emphasizing equity markets ‎via one unified platform offering. By extension, advanced clearing services will be ‎provided through Wedbush for all asset classes. ‎

    The combined firm will help garner multiple benefits for market participants, including ‎trading synergies, better pricing and fees, market access and data. In addition, the inclusion of Lime will enable the parent firm to expand its offering of collocated direct-market access (DMA) platforms, executions in multiple asset classes and offer tighter integration with its clearing services.

    Commenting on the deal, Farid Naib, Lightspeed CEO, stated: “Lightspeed and Lime ‎are both respected brands and leaders in the active trader industry. The combination of ‎these two firms provides a world-class set of services to active, high volume, and ‎algorithmic traders, among others. Lightspeed and Lime share the same culture of, and ‎have invested heavily in, providing clients with superior service, and best-of-breed ‎systems.”‎
    Last edited by a moderator: Jan 21, 2018
  2. Robert Morse

    Robert Morse Sponsor

    More information to follow after we close on the deal. All I can say right now in that Lime (DMA Routing,Technical Solutions and IT hosting) and some other operations will be under our umbrella making us bigger and better funded.

    Stay tuned.

    VPhantom, 777, Gambit and 2 others like this.
  3. Good on you, man!
    777 and Robert Morse like this.
  4. FSU


    @ajacobson Interesting, thanks for posting. It would be appreciated in the future that you credit where you got the information from instead of just cut and pasting.
    truetype likes this.
  5. Robert Morse

    Robert Morse Sponsor

    We had a press release. I was going to wait until we closed to say anything.
  6. zdreg


    if he does he does. how difficult is it for you to google a phrase/sentence and come up with the link yourself.
    (it is a lot better than thoughtless posters who don't post the contents of an article, of which are only accessible through paid subscription.)
    Last edited: Jan 21, 2018
  7. Gambit


    @zdreg It was a polite request. That's all. We can all google but the citation is a small courtesy that's appreciated. I don't think any offense was intended.
  8. Overnight


    Gambit likes this.

  9. So, why hasn't the deal closed yet?
  10. Robert Morse

    Robert Morse Sponsor

    No idea. Waiting for regulators to approve. Why? Nothing will change much for a while expect some of the Lime and futures operations will be with us.

    #10     Feb 8, 2018