Lightspeed Financial Acquires Integrity Trading
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-- Company Furthers Position as Active Trading Industry
Consolidator of Choice --
NEW YORK--(Business Wire)--Lightspeed Financial, LLC, today announced that it has completed
the acquisition of Integrity Trading Inc., a Direct Market Access
broker/dealer that provides execution and clearing services to retail
and institutional customers. Terms of the transaction were not
disclosed.
"With nearly 1500 accounts and a trading system bar none, we
believe we are well positioned to further our standing as the leader
in the active trading space," said Stephen Ehrlich Chief Executive
Officer, Lightspeed Financial, LLC. "The purchase of Integrity Trading
is a logical, strategic next step as we continue to scale our
business, while diversifying our products and services, further
solidifying Lightspeed's position as the only destination for
professional active traders."
Mr. Ehrlich noted that the integration of Integrity will
immediately have a positive impact on Lightspeed's revenues because of
the significant number of OTCBB and Pink Sheets trades executed by
Integrity's existing customer base. In addition, Lightspeed's
sophisticated traders will now have an opportunity to further
diversify their trading strategies by incorporating the OTCBB and Pink
Sheets into their existing portfolios.
Based in Kirkland, Washington, with nearly 1,000 customer
accounts, Integrity Trading reported trades of over 13 billion shares
in 2006 of which 97% were in the OTCBB and Pink Sheets. The firm is a
registered broker-dealer and a member of FINRA, SIPC and NFA.
"We've worked tirelessly over the years to build a solid customer
base and provide them with Direct Access trading, particularly to the
to the OTC markets - as evidenced by our tremendous volumes last
year," said Robert Luecke, Chief Executive Officer, Integrity Trading
Inc. "We are confident that our valued customers are in excellent
hands as we pass the ownership baton to a high caliber firm like
Lightspeed. They have proven to our management team and the active
trading industry that Lightspeed has the infrastructure, technology,
and breadth and depth of services to ensure a seamless transition and
a mutually rewarding relationship."
Ehrlich added, "You can expect Lightspeed to continue to actively
bring on companies and active trading groups throughout 2008."
Regarding Lightspeed's commitment to diversify its products and
services, Mr. Ehrlich noted that earlier this month the firm announced
plans to launch a fully-integrated equity options trading platform as
well as a partnership with the Options Industry Council to offer
comprehensive educational programs and materials on the benefits and
risks of trading equity options.
About Lightspeed Financial, LLC
Headquartered in New York City, Lightspeed Financial (formerly
Lightspeed Holdings, LLC) operates through three wholly-owned
subsidiaries:
Lightspeed Technologies, LLC serves as the Company's technology
development subsidiary. Lightspeed develops and operates the
Lightspeed Direct Market Access trading software application, the
Lightsource real-time risk management application and the Middle
Office Technology suite. Utilizing a number of proprietary
technologies, Lightspeed offers real-time market data platforms and
direct-access trading systems to broker-dealers, institutional
entities and professional traders.
Lightspeed Professional Trading, LLC and Lightspeed Trading, LLC
operate as fully disclosed introducing broker-dealers and FINRA and
NFA members. They offer securities and direct access brokerage,
trading and advanced order routing services to their customers
utilizing Lightspeed's software products.
Sloane & Company
Mike Boccio, 212-446-1867
mboccio@sloanepr.com
Copyright Business Wire 2008
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