Group Co.
Lightspeed Trading and Lime Brokerage Combine Businesses
Traders Magazine Online News, January 25, 2018
Lightspeed Trading, LLC, Professional Trading Solutions, Inc., and Lime Brokerage, LLC, confirmed 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.
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