Wedbush acquires Lime Brokerage
13 June 2011 Los Angeles
Image: Shutterstock
Wedbush Inc., has acquired Lime Brokerage LLC, the preeminent provider of ultra low-latency, ultra high-throughput trading technologies and high-volume agency brokerage services.
Lime鈥檚 high-performance trading technologies and Wedbush 麻豆传媒鈥� Advanced Clearing Services are now fully integrated to provide expanded high-speed solutions for the execution, market data, and risk control requirements of both firm鈥檚 clients. The result is a seamless suite of best-in-class products for ultra low-latency, low-cost, and high-volume equities, options and futures trading. Moreover, Lime provides a technology platform from which Wedbush plans to develop and deliver innovative brokerage services in multiple asset classes and geographies for its buy-side, professional, and individual clients.
Founded in 2001 and privately-held, Lime will operate as a wholly-owned subsidiary of WEDBUSH, Inc., headquartered in Los Angeles and the parent company of Wedbush 麻豆传媒, the #1 ranked liquidity provider on the NASDAQ exchange for the past 5 years. Jeff Bell will assume Lime鈥檚 CEO position in addition to his responsibility as Head of Wedbush 麻豆传媒鈥� Clearing and Technology Group. Eric Wedbush and Gary Wedbush, both executives at Wedbush, will join Lime鈥檚 Board of Directors. Lime鈥檚 employees will continue to be located at offices in the Technology Center in Waltham, MA, New York City, and data center in Jersey City, NJ. Additionally, Lime will continue to manage co-location sites at major liquidity venues.
鈥淟ime has long been viewed as a technology leader by the high-frequency trading community and is a perfect complement to our market-leading, high-volume clearing operations. We are especially excited about the enhanced technology capabilities Lime鈥檚 outstanding engineering team will bring to our entire firm.鈥� states Eric Wedbush, President of WEDBUSH, Inc. 鈥淭his acquisition is a major advancement in our mission to deliver to our buy-side clients the highest-speed, lowest-cost DMA and algorithmic trading services in the industry,鈥� adds Gary Wedbush, Executive Vice President and Head of Capital Markets for Wedbush 麻豆传媒.
鈥淟ime鈥檚 clients are among the most sophisticated and demanding traders in the world. The integration of Lime鈥檚 low-latency technologies in execution, market data, and pre-trade risk controls with our full-service execution and clearing services provides the market with immediate benefits not available elsewhere. We plan to leverage Lime鈥檚 technology capabilities across all of our business lines to benefit of our entire client base. Accordingly we anticipate retaining and growing Lime鈥檚 exceptional management, technology, and operations teams,鈥� says Jeff Bell.
鈥淲edbush is one of the most respected names in the financial services industry, through its vision, values and client-focused service model, and we are extremely proud to now be part of an organization we鈥檝e always admired. Our clients and prospects will see tremendous value from the tight integration with Wedbush鈥檚 clearing, execution and broader range of service offerings鈥�, states Alistair Brown, co-founder of Lime Brokerage.
Lime鈥檚 high-performance trading technologies and Wedbush 麻豆传媒鈥� Advanced Clearing Services are now fully integrated to provide expanded high-speed solutions for the execution, market data, and risk control requirements of both firm鈥檚 clients. The result is a seamless suite of best-in-class products for ultra low-latency, low-cost, and high-volume equities, options and futures trading. Moreover, Lime provides a technology platform from which Wedbush plans to develop and deliver innovative brokerage services in multiple asset classes and geographies for its buy-side, professional, and individual clients.
Founded in 2001 and privately-held, Lime will operate as a wholly-owned subsidiary of WEDBUSH, Inc., headquartered in Los Angeles and the parent company of Wedbush 麻豆传媒, the #1 ranked liquidity provider on the NASDAQ exchange for the past 5 years. Jeff Bell will assume Lime鈥檚 CEO position in addition to his responsibility as Head of Wedbush 麻豆传媒鈥� Clearing and Technology Group. Eric Wedbush and Gary Wedbush, both executives at Wedbush, will join Lime鈥檚 Board of Directors. Lime鈥檚 employees will continue to be located at offices in the Technology Center in Waltham, MA, New York City, and data center in Jersey City, NJ. Additionally, Lime will continue to manage co-location sites at major liquidity venues.
鈥淟ime has long been viewed as a technology leader by the high-frequency trading community and is a perfect complement to our market-leading, high-volume clearing operations. We are especially excited about the enhanced technology capabilities Lime鈥檚 outstanding engineering team will bring to our entire firm.鈥� states Eric Wedbush, President of WEDBUSH, Inc. 鈥淭his acquisition is a major advancement in our mission to deliver to our buy-side clients the highest-speed, lowest-cost DMA and algorithmic trading services in the industry,鈥� adds Gary Wedbush, Executive Vice President and Head of Capital Markets for Wedbush 麻豆传媒.
鈥淟ime鈥檚 clients are among the most sophisticated and demanding traders in the world. The integration of Lime鈥檚 low-latency technologies in execution, market data, and pre-trade risk controls with our full-service execution and clearing services provides the market with immediate benefits not available elsewhere. We plan to leverage Lime鈥檚 technology capabilities across all of our business lines to benefit of our entire client base. Accordingly we anticipate retaining and growing Lime鈥檚 exceptional management, technology, and operations teams,鈥� says Jeff Bell.
鈥淲edbush is one of the most respected names in the financial services industry, through its vision, values and client-focused service model, and we are extremely proud to now be part of an organization we鈥檝e always admired. Our clients and prospects will see tremendous value from the tight integration with Wedbush鈥檚 clearing, execution and broader range of service offerings鈥�, states Alistair Brown, co-founder of Lime Brokerage.
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