Lightspeed Financial, a provider of ultra low latency direct market access (DMA) trading technology, risk management solutions, and brokerage services is launching a prime brokerage unit called Lightspeed Institutional.
The prime brokerage unit offers an integrated, 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. It also delivers pre-trade risk management and real-time risk monitoring.
"It was a natural evolution of our business. Our core business was the active trader space. Our space moved to the left, to a retail clientele -- people who trade to supplement their income -- and moved to the right with proprietary trading, black box and automated trading," Andrew Actman, chief strategy officer, Lightspeed Financial, told WS&T.
"It was the next step for us in our evolution to reach out to hedge funds and institutional investors." Among its other offerings, Lightspeed Institutional provides agency-only and outsourced trade desks, involving a hybrid model of electronic and voice access to route order flow to brokers.