Lime Brokerage Introduces Sponsored Access Solution for High-Frequency Trading Firms
By Lime Brokerage Llc, PRNETuesday, March 23, 2010
LimeInside provides pre-trade controls that meet or exceed proposed regulatory criteria with single-digit microsecond latency
NEW YORK, March 24, 2010 - Lime Brokerage LLC (www.limebrokerage.com), an independent
high-volume agency broker and leading provider of high-throughput,
low-latency technologies to the professional trading community, is rolling
out an offering that addresses the SEC's pending ban of naked sponsored
access. LimeInside is the industry's fastest and most comprehensive solution
for high-performance, exchange co-located sponsored access.
(Logo: www.newscom.com/cgi-bin/prnh/20100324/NY75754 )
The patent-pending order placement validation and market-driver platform
enables trading firms to co-locate at major U.S. trading venues, without the
potential for exceeding trading limits or violating other regulatory
requirements imposed upon the sponsoring broker.
LimeInside seamlessly integrates risk controls, order management,
real-time market data, and directed destination routing for the most
efficient market access. A non-intrusive trading API resides directly within
the client's trading environment to minimize latency and maximize
performance.
The practice of sponsored access is subject to numerous compliance
criteria defined by regulators that require real-time pre-trade risk
monitoring on sponsored trading of exchange-traded equities and equity
options. The LimeInside solution satisfies both existing and anticipated
compliance criteria, offering:
- Pre-trade order validation, as mandated by Nasdaq and proposed SEC regulations, with high throughput and minimal latency; - Risk aggregation across venues via LimeInside's patent-pending information sharing protocol; - Verification checks that prevent submission of orders to the markets if trading limits are exceeded; - Configurable checks on human error ("fat finger"); - Highly optimized order management and delivery to the exchange's matching engine; - Integration with Citrius(TM), Lime's real-time Quote Delivery System for multiple destinations; - Patent-pending data-output shaping algorithm for low latency and high-throughput quote delivery; - Protection of flow from hidden information leakage attacks - Lime Brokerage does not operate a proprietary trading desk or dark pool and offers the highest level of security to protect both the client application and the pre-order validation model; - Solid reliability, thanks to Lime's redundant, scalable infrastructure.
LimeInside is currently available for a select number of firms who want
sponsored access to NASDAQ, NYSE Arca and BATS; additional markets to be
added based upon customer demand and availability of co-location facilities.
The solution is quickly and easily installed and integrated at the exchange's
co-location site via Lime's C++ API. LimeInside's speed, scalability,
configuration and service alternatives provide significant advantages to
firms operating either as hedge funds or broker dealers.
"Lime has long been a vocal proponent of rules preventing naked access
and as an industry leader, we have created a solution that is consistent with
regulatory mandates without sacrificing performance," states Jeffrey Wecker,
President and CEO of Lime Brokerage.
"If you are among the fastest traders on the planet, you owe it to
yourself to take a closer look at our patent-pending technology," Wecker
adds. "Our pre-trade order validation is so fast, you will not only reduce
your latency, but in many cases will see net-negative latency relative to
your existing platform."
About Lime Brokerage
Providing customers with performance-engineered trading solutions that
deliver speed, scale and reliability is the hallmark of Lime Brokerage. Lime
integrates world-class advanced execution technology with clearing and
reporting services for seamless support of the most complex, automated and
high-volume electronic trading strategies. Our technology and trading
platform allows our customers to access an independent, agency-only system to
trade quickly, reliably and anonymously on multiple exchanges, ECNs and
trading venues. Clients include professional traders, hedge funds, asset
managers and broker-dealers. For more information about Lime Brokerage,
please visit www.limebrokerage.com or email info@limebrokerage.com.
Media Contact: Mike Felix Lime Brokerage +1-212-824-5544 mfelix@limebrokerage.com
Mike Felix of Lime Brokerage, +1-212-824-5544, mfelix at limebrokerage.com
Tags: Lime Brokerage Llc, March 24, New York, Western Europe