Lightspeed Financial Reports Monthly Activity for April 2008
– DARTs Increase 462% YOY, Volumes Rise 359% —
NEW YORK, May 8, 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 April 2008:
— Daily Average Revenue Trades (DARTs) were 657,000, compared with 117,000 in April 2007, which represents a 462% increase.
— Clients traded an average of 121 million shares per day compared with 26.4 million shares per day in April 2007, an increase of 358%.
— $514 million in total client assets at the end of April, up 81% from April 2007.
For March, the Company reported 952,000 DARTs and 177 million total client shares traded per day. Additionally, client assets totalled $395 million at March 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
