Lightspeed Financial Reports Trading Activity for Q1 2008
– DARTs Increase 752% YOY, Volumes Inflate 673% —
NEW YORK, April 10, 2008 - Lightspeed Financial, LLC, a leading provider of direct market access brokerage services, professional trading technology, and advanced order routing and risk management capabilities, reported the following business metrics and daily trading results for the first quarter of 2008:
— Daily Average Revenue Trades (DARTs) were 895,000, compared with 105,000 in Q1 2007, which represents a 752% increase.
— Clients traded an average of 170 million shares per day compared with 22 million shares per day over the same period in 2007, an increase of 673%.
As of March 31, 2008 total client assets were $395 million, up 83% from $216 million on March 31, 2007.
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
