NEW YORK, June 22, 2010 – Lightspeed Financial, Inc., a leading provider of ultra low latency direct market access (DMA) trading technology, risk management solutions, and brokerage services for retail active traders, professional trading groups, hedge funds, and algorithmic “black box” firms, today announced that subject to the satisfaction of certain conditions it has acquired a perpetual license to the Anvil trading software currently available only through Assent LLC. The licensing agreement is part of an ongoing effort by Lightspeed to fortify its position as the active trading industry’s premier operator and the leading acquirer of trading businesses. Terms of the transaction were not disclosed.
Assent made public in April its plans to exit the professional-trading business and discontinue operating the Anvil trading platform.
“We continue to grow our business organically at a steady pace while at the same time assessing the competitive landscape to identify strategic combinations, which can help us capture an even greater share of market as we build an enduring company and establish Lightspeed as the preeminent home for professional traders,” said Stephen Ehrlich, Chief Executive Officer, Lightspeed Financial, Inc. “The license to operate Anvil was a perfect fit for Lightspeed. It enhances our ability to offer professional trading clients ultra low latency market data and executions, a business we have been successfully servicing for years. This transaction is a validation of our leading position in the professional trading arena.”
The exclusive licensing deal for Anvil represents the fifth successful transaction that Lightspeed has made in the active trading space since its inception nearly four years ago and its third deal this year. Past transactions include the acquisitions of retail trading firms Schonfeld & Company, LLC, Integrity Trading Inc, NobleTrading, and Terra Nova Financial, LLC earlier this month.
Ehrlich noted that the licensing deal could, when effective, bring the total Lightspeed client base to more the 7,500 traders who could execute over 220 million equity shares per day with total client assets exceeding $1.35billion.
About Lightspeed Financial, Inc.
Headquartered in New York City, Lightspeed Financial operates through three wholly-owned subsidiaries:
Lightspeed Trading, LLC operates as a fully disclosed introducing broker-dealer and FINRA and NFA member. The Company offers securities and direct access brokerage, trading and advanced order routing services to their clients utilizing Lightspeed’s software products.
Lightspeed Technologies, LLC serves as the Company’s technology development subsidiary. Lightspeed develops and operates Lightspeed Trader, Lightspeed’s Direct Market Access trading software application; Lightspeed Gateway, Lightspeed algorithmic trading offering; Lightspeed Risk, a real-time risk management application; and Lightspeed Admin, Middle Office Technology suite. Utilizing a number of proprietary technologies, Lightspeed offers these products and more to broker-dealers, institutional entities and professional traders.
Lightspeed Education, LLC delivers educational products to the Lightspeed Trading, LLC customer community. These products include third party educational tools, webinars and the Lightspeed Spotlight social community. www.lightspeed.com
Lightspeed Financial, Lightspeed Technologies, Lightspeed Trading, Lightspeed Education and the Lightspeed logo are trademarks or registered trademarks of Lightspeed Financial, Inc.
© 2010 Lightspeed Financial, Inc. All rights reserved.
Press Contact:
Mike Boccio
Sloane & Company
(212) 446-1867
mboccio@sloanepr.com
