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December 16, 2011

Lime Acquires Cactus Trading

By John D'Antona Jr.

Lime Brokerage, a wholly owned subsidiary of Wedbush Securities, which caters to the high-frequency crowd, is buying Cactus Trading.

Cactus provides a low-latency, multi-asset-class trading engine, designed for implementation, testing and deployment of algorithmic trading strategies geared toward HFTs.

By integrating Cactus technology, Lime can now enable traders and quants to express their trading strategies in code, use that same code to back-test their strategies against historical data, simulate trading against live data and then move to production trading.

"We are committed to investing in and developing the Lime infrastructure so that clients can focus on trading and leave the technology to us," said Jeff Bell, chief executive of Lime.

Joe Signorelli, chief executive of Cactus Trading, and David Don, chief operating officer, will become managing directors at Lime Brokerage.

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