– DARTs Increase 140%, Trading Volumes Surge 110%, New Accounts Up 120% — – Firm to Launch Fully-Integrated Options Trading Platform, Teams Up with OIC to Offer Options Education —
NEW YORK, Jan 09, 2008 – Lightspeed Professional Trading, LLC, a leading provider of direct access brokerage, trading and advanced order routing services for active traders, today reported daily average revenue trades (DARTs) of 388,000, 77.7 million client shares traded per day and a total customer base of over 1,600 traders, representing an increase of 140%, 110% and 120% respectively for 2007.
“These results demonstrate the high degree of sophistication, discipline and market savvy that our traders exhibit and are a testament to the speed and efficiency of the trading software and risk management tools we provide,” said Stephen Ehrlich, Chief Executive Officer, Lightspeed Financial, LLC. “Despite economic and market uncertainty our professional active traders and small to mid-size hedge funds have exhibited a remarkable, time-tested ability to trade with success in all market conditions. We intend to build on this success through business expansion in 2008, tackling new trading opportunities that will increase the breadth and depth of services and solutions we provide clients.”
To that end, Lightspeed Professional Trading also announced that it will be launching its highly anticipated equity options trading platform in Q1. Customers will benefit from a user-friendly order entry interface for real-time quotes and rapid trade execution.
The options functionality is fully-integrated into the Lightspeed Direct Market Access trading software, which utilizes industry-leading technology and trading tools, allowing customers to quickly enter equity, futures and options orders all from a single trading screen – helping to further increase speed and efficiency.
Speaking about the new options functionality, Mr. Ehrlich said, “The integration of equity options trading capabilities is a natural evolution for the Lightspeed professional grade platform and will complement our existing equities and futures offering. The decision to make options trading available was in large part a result of customer demand.”
Mr. Ehrlich added, “We recognize that education is crucial to becoming a successful options trader and, when implemented correctly, options can be an excellent means to generate income or to hedge an existing equity position against adverse market moves.” Mr. Ehrlich noted that Lightspeed has partnered with the Options Industry Council to offer traders comprehensive educational materials and access to online seminars and trading courses about the benefits and risks of exchange traded equity options.
Through the partnership with the OIC, Lightspeed customers will benefit from a comprehensive suite of educational materials for options trading including online tutorials, instructional DVDs and ‘how-to’ workbooks, pricing calculators and a position simulator geared for beginner, intermediate and advanced skill levels.
Regardless of a customers level of options trading experience, the host of education available combined with Lightspeed’s knowledgeable customer support will ensure that traders are well equipped to implement there options trading strategies with success.
Lightspeed customers, once approved to trade options by Lightspeed, will have access to equity option chains and in-depth pricing for writing more conservative covered calls and protective puts.
Customers utilizing the Lightspeed Direct Market Access trading software will benefit from a highly-competitive pricing structure for equities, options and futures transactions:
– Equity trades – 3.95 per 1,000 shares with no minimum (plus pass throughs)
– Options trades – .95 per option contract with no minimum
– Futures trades – .95 per contract per side with no minimum (plus regulatory fees)
About Lightspeed Financial, LLC
Headquartered in New York City, Lightspeed Financial (formerly Lightspeed Holdings, LLC) operates through three wholly-owned subsidiaries:
Lightspeed Technologies, LLC serves as the Company’s technology development subsidiary. Lightspeed develops and operates the Lightspeed Direct Market Access trading software application, the Lightsource real-time risk management application and the Middle Office Technology suite. Utilizing a number of proprietary technologies, Lightspeed offers real-time market data platforms and direct-access trading systems to broker-dealers, institutional entities and professional traders.
Lightspeed Professional Trading, LLC and Lightspeed Trading, LLC operate as fully disclosed introducing broker-dealers and FINRA and NFA members. They offer securities and direct access brokerage, trading and advanced order routing services to their customers utilizing Lightspeed’s software products.
SOURCE: Lightspeed Professional Trading, LLC
Sloane & Co.
Mike Boccio, 212-446-1867
mboccio@sloanepr.com
