LOS ANGELES--(BUSINESS WIRE)--WEDBUSH, Inc., one of the nation’s leading full-service investment firms announced today that it acquired Lime Brokerage LLC, the preeminent provider of ultra low-latency, ultra high-throughput trading technologies and high-volume agency brokerage services.
Lime’s high-performance trading technologies and Wedbush Securities’ 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’s 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 Securities, the #1 ranked liquidity provider on the NASDAQ exchange for the past 5 years. Jeff Bell will assume Lime’s CEO position in addition to his responsibility as Head of Wedbush Securities’ Clearing and Technology Group. Eric Wedbush and Gary Wedbush, both executives at Wedbush, will join Lime’s Board of Directors. Lime’s 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.
“Lime 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’s outstanding engineering team will bring to our entire firm,” states Eric Wedbush, President of WEDBUSH, Inc. “This 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,” adds Gary Wedbush, Executive Vice President and Head of Capital Markets for Wedbush Securities.
“Lime’s clients are among the most sophisticated and demanding traders in the world. The integration of Lime’s 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’s technology capabilities across all of our business lines to benefit of our entire client base. Accordingly we anticipate retaining and growing Lime’s exceptional management, technology, and operations teams,” says Jeff Bell.
“Wedbush 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’ve always admired. Our clients and prospects will see tremendous value from the tight integration with Wedbush’s clearing, execution and broader range of service offerings,” states Alistair Brown, co-founder of Lime Brokerage.
About WEDBUSH, Inc.
WEDBUSH, Inc. is a leading financial services and investment firm that, through its holdings, provides private and institutional brokerage, investment banking, equity research, fixed income, clearing, sponsored-access, and execution, private capital, commercial banking, and asset management to individual, institutional and issuing clients. Founded in 1955, the firm’s largest holding, Wedbush Securities, is one of the nation’s largest securities firms and the #1 Liquidity Provider for the NASDAQ exchange. Headquartered in Los Angeles, with over 100 offices, WEDBUSH is dedicated to its delivering its clients relentless service, financial safety, continuity, and advanced technology. (www.wedbush.com)
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, and 15c3-5 compliant risk controls 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. (www.limebrokerage.com)