12/19/2008
Lightspeed Mulls Expansion into FIX, Options & Futures for its Algo Business
Lightspeed Trading, which provides trading technology and brokerage services to active individual traders, small to mid-sized hedge funds and institutions, and proprietary trading groups, is considering the addition of a FIX converter to its algorithmic trading product.
The salient points in Lightspeed’s plans for the algorithmic side of its business are:
- It has already been through the exercise of broadening the offering of its electronic trading business and so has some experience about how to do it without devaluing its core activity
- A FIX converter will enable customers to come on board without having to make changes to their existing trading applications, but
- Persuading them to make the more strenuous move to actually engaging in a rewrite for full HUBB functionality is going to be more of a challenge, and one that Lightspeed will need to tread carefully to address.
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