Lightspeed Financial Reports Monthly Activity for February 2008
– DARTs Increase 635% YOY, Volumes Surge 560% —
NEW YORK, March 10, 2008 - Lightspeed Financial, LLC, a leading provider of direct access brokerage, trading and advanced order routing services for active traders, reported the following business metrics and daily trading results for February 2008:
— Daily Average Revenue Trades (DARTs) were 750,000, compared with 102,000 in February 2007, which represents a 635% increase.
— Clients traded an average of 136 million shares per day compared with 20.6 million shares per day in February 2007, an increase of 560%.
— $386 million in total client assets at the end of February, up 68% from February 2007.
For January, the Company reported 975,000 DARTs and 190 million total client shares traded per day. Additionally, client assets totalled $389 million at January 31, 2008.
The data includes both black box and manual trades executed through its broker-dealers, Lightspeed Professional Trading, LLC and Lightspeed Trading, LLC.
About Lightspeed Financial, LLC
Headquartered in New York City, Lightspeed Financial 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.
Sloane & Company
Mike Boccio
(212) 446-1867
