NEW YORK (PRWEB) January 18, 2018
Lightspeed Trading, LLC, Professional Trading Solutions, Inc., and Lime Brokerage, LLC, confirmed today the execution of an asset purchase agreement to combine the Lightspeed business within Lime Brokerage, LLC. The parties intend that a new entity, with sponsorship from an investor group (including members of the existing Lightspeed Trading, LLC management team, and WEDBUSH, Inc., among others) will become the new parent company of combined businesses.
Farid Naib, Lightspeed’s 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.”
The combined firm will continue to offer the current suite of products and will focus on broadening and deepening cross-asset class capabilities. The scale of industry knowledge and technology achieved by combining these firms will allow them to deliver additional benefits to their clients, including the strongest solutions around, fast and reliable trading platforms, affordable pricing and fees, safe and efficient market access, robust market data, with more to come. The new firm has several new offerings planned for 2018 and will continue to provide a home for knowledgeable and demanding traders.
This transaction is expected to close by the end of the first quarter of 2018. The closing of the transaction is subject to customary closing conditions, including regulatory approval.
About Lightspeed Trading, LLC
Lightspeed Trading, LLC, is a FINRA and NFA member and a fully disclosed introducing broker-dealer based in New York City and Chicago. The Company offers securities and multiple routing venues and strategy destinations, trading and advanced order routing services to their clients utilizing Lightspeed’s software. Lightspeed Institutional is a division of Lightspeed Trading, LLC. Lightspeed Trading, LLC is owned by Professional Trading Solutions.
For more information about Lightspeed Trading, LLC, please visit https://www.lightspeed.com/
About Lime Brokerage, LLC
Lime Brokerage offers advanced trading technologies and execution services, providing traders access to automated, high-volume electronic trading markets. Lime’s systems provide reliability and scale with exceptionally low latency. Developed to handle the demands of the automated and electronic trading community, Lime’s technology caters to a diverse and sophisticated client base. The result is a robust, highly reliable, agency-only system that includes market data and trading platforms. It allows clients to trade efficiently and anonymously across all major lit and dark market venues. Lime Brokerage is owned by WEDBUSH, Inc.
For more information about Lime Brokerage, LLC, please visit http://www.limebrokerage.com/
About WEDBUSH, Inc.
WEDBUSH, Inc is a private investment firm headquartered in Los Angeles that includes among its investments and holdings, private and public securities, private equity funds, financial technology firms, broker-dealers, and asset managers.