Lightspeed Trader Functionality Updates

LIGHTSPEED TRADER NOW OFFERS ACCESS TO IEX.

IEX’s mission is to operate a market that works for investors™ by balancing the interests of traditional investors, brokers, and the market venue. This balance begins with IEX’s unique ownership and membership structure and carries through to their technology and infrastructure engineering, order type selection, and marketplace design.

IEX is unique in that it is a registered ATS owned by a consortium of investors: mutual funds, hedge funds, family offices, and individuals. However, IEX will only have brokers as Subscribers, recognizing their integral role in the investment process.

IEX will focus on investor protection and performance by creating a market that aims to maximize shares traded at the best available price, decreases information leakage, eliminates informational disadvantages and persistent inefficiencies, and promotes an opportunity for natural interest to interact without unnecessary intermediation. IEX is dedicated to offering fair access to a balanced marketplace, and delivering a defined and objective experience in support of just and equitable principles of trade.

IEX is now available as a routing destination in the Market Dropdown of the Lightspeed Trader Order Entry Window, by selecting IEXL:

To send an order with your keyboard or hotbutton, create a basic custom key with IEXL as the Market or add IEXL to your Scroll list in the Lightspeed Trader Increments Tab.

IEX Operating Hours:
Trading on IEX will commence at 9:30am ET and end at 4pm ET.

Routing Costs:
For the most current pricing please refer to our online pricing table at www.lightspeed.com/pricing/routing-fees/

Lightspeed Trading has released an update to its flagship platform, Lightspeed Trader.

Version 8.0.35 is now available for download and features the following enhancements:

  • Good-Til-Canceled (GTC) time in force for both options and equities
  • Complex Order Entry ticket for entering spreads
  • Option Level 2 contract indication of standard, mini, or jumbo options
  • Real-time Greeks reflected in Options Chain
  • Stop Limit order type

Watch our video release notes to see what’s new.

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GTC ORDERS

Lightspeed Trader now supports GTC Orders in both options and equities. This gives the trader the advantage of not having to reenter unexecuted orders day by day. Another advantage is the retention of your order’s place in line.

To utilize GTC orders, Select GTC Limit, GTC Stop, or GTC Stop Limit from the Equity Order Entry window as seen below from the TIF dropdown in the option order entry ticket or the complex option order entry window. You can also specify controls for how Esc handles ‘Good Till Cancelled’ orders in the Cancels tab.

STOP LIMIT ORDERS

Lightspeed Trader now supports Stop-Limit orders directly from the order entry window. Choose from the drop-down and remember to make your limit higher than the stop Price when buying and lower than the stop price when selling.

OPTION CHAIN IMPROVEMENTS

We’ve made several enhancements to our option chains in order to present traders with even more information, while allowing unwanted data to be filtered out.

  • Filter out or only display Minis, Jumbos, or other special option roots to minimize clutter
  • New Display separates options by Contract Type and Expiration
  • Add Column to display Expiration Type: Weekly, Monthly, Quarterly Options
  • Customize columns to view positions, volatility, and Greeks

OPTION LEVEL 2 CONTRACT TYPE INDICATION

Users can now select Mini, Jumbo, or Standard from the dropdown to limit the clutter of unwanted strikes.

COMPLEX ORDER ENTRY

Lightspeed Trader now allows the user to build and send complex options strategies like butterflies, condors, strangles, covered calls, and protective puts from a single order ticket.

The latest release of Lightspeed Trader is now available to new and existing Lightspeed clients.
For more information please visit www.lightspeed.com.

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