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July 11, 2011

Europe's HFTs Access USA

By John D'Antona Jr.

Tbricks, a European execution management system vendor, has teamed up with U.S. agency broker Lime Brokerage to offer European high-frequency traders access to the U.S. markets.

Overseas high-frequency traders, brokers and others can now get ultra-low-latency access to U.S. markets through Lime, while still using Tbricks' high-speed network, said Urs Rutschmann, Tbricks' chief operating officer. By using Lime, European HFTs get the same high-speed access to the U.S. equities and futures markets that they already have in Europe, he said.

Tbricks expects to extend similar capabilities for trading in U.S. options through Lime Brokerage in the near future. Clients will also have access to Lime's low-latency Citrius market data feed for U.S. markets directly through Tbricks' systems.

Lime is also offering Tbricks' clients the pre-trade risk controls that the U.S. broker already has in place, to meet new regulatory requirements banning "naked access" on U.S. order flow. The requirements go into effect in July.

 

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