Lightspeed Financial, a provider of ultra low latency DMA trading technology, risk management solutions and brokerage services, has expanded into prime brokerage with the launch of Lightspeed Institutional. Lightspeed Institutional is a division of the Companys introducing broker-dealer subsidiary Lightspeed Trading, LLC.
The new company will offer a fully integrated, specialized prime brokerage platform for professional investors. In addition to front end manual and automated trading solutions it provides a sales trading desk for execution services, technology solutions, custody, clearing, securities lending, and portfolio reporting.
The decision to expand into prime brokerage stems from our desire to meet the demands of a growing number of sophisticated investors who have grown dissatisfied with the level and cost of service they are receiving from some of the bigger players in the space, said Andrew Actman, chief strategy officer, Lightspeed Financial.
Stephen Ehrlich, chief executive officer, Lightspeed Financial, said: The launch of our prime brokerage business is a necessary next step in our strategic growth plan aimed at delivering the most complete and customizable suite of trading technology and brokerage services across asset classes to professional traders.
(JDC)