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March 1, 2012

Lime's Risk Analytics Break Micro Barrier

By John D'Antona Jr.

Lime Brokerage, a wholly owned subsidiary of Wedbush Inc, announced its new pre-trade risk offering adds less than 250 nanoseconds of latency.

The pre-trade product, dubbed LimeDirect, supports compliance with the recently enacted Securities and Exchange Commission market access rule 15c3-5. The rule mandates all orders must go through pre-trade risk checks before being executed. Dave Polen, managing director of the systematic trading division at Lime, said the faster the pre-trade risk check, the faster an order can be routed and executed.

"We hope for a high adoption rate, as we feel we've solved the latency question," Polen said.

Newer pre-trade risk checks add around one to three microseconds of latency, he said. A microsecond is one-millionth of a second, while a nanosecond is one-billionth of a second.

He added that the system allows traders to use existing market drivers. It also allows them to manage market connectivity and add new order types at will, upon approval of the sponsoring broker.

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