Lightspeed Trading is always attentive to the needs of their customers and often incorporate customer feedback into their platform updates. Recently, a Lightspeed customer asked if the brokerage would be able to support the Frequent Trader program at CBOE, the largest options exchange in the U.S. Since many frequent traders turn to Lightspeed Trading for the cheapest option trading online, Lightspeed determined it would be beneficial to add this functionality to their software. By updating configurations within their systems, they were able to make the frequent trader program accessible to their clients.
Traders can take advantage of this program by obtaining a CBOE Frequent Trader ID by registering on the CBOE website. Once customers receive their ID they can send the ID to Lightspeed to be attached to manual and electronic orders delivered to CBOE. Whenever CBOE Volatility Index® (VIX®), S&P 500® Index (SPXSM), SPXW, Russell 2000 Index (RUTSM) or RUTW options are traded and the traded contracts meet monthly minimum thresholds, customers will receive a fee rebate. The percentage of the rebate varies depending on the volume of monthly contracts traded, as well as for the type of options traded. Rebates can be received through an Electric Funds Transfer (EFT) and can be sent directly to a client’s account.
Adding the functionality of the Frequent Trader program at CBOE is just one way that Lightspeed Trading supports their professional grade retail clients. The company’s flagship platform, Lightspeed Trader, makes it easy to take advantage of all the brokerage has to offer. To discover the best trading tools for active traders, visit www.lightspeed.com.
About Lightspeed Trading, LLC
A subsidiary of Professional Trading Solutions, Inc – Lightspeed Trading, LLC, is a FINRA and NFA member and a fully disclosed introducing broker-dealer based in New York City and Chicago. The Company offers securities and direct access brokerage, trading and advanced order routing services to their clients utilizing Lightspeed’s software. Lightspeed Institutional is a division of Lightspeed Trading, LLC.
For more information about Lightspeed Trading, LLC, go to www.lightspeed.com.