Lightspeed Trading Forges Deal with Lime Brokerage to Merge Businesses

The combined firm will help garner multiple benefits for market participants‎.

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.‎

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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.‎

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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.”‎

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