Lightspeed Financial acquires Noble Trading
18 February 2010 | 2554 views | 0
Source: Lightspeed Financial
Lightspeed Financial, Inc., a leading provider of direct market access (DMA) trading technology, risk management solutions, and brokerage services for retail active traders and institutional investors, today announced its acquisition of discount trading firm NobleTrading. Terms of the transaction were not disclosed.
"We remain committed to aggressively pursuing strategic growth opportunities to increase our footprint in the market, further position the firm as the industry consolidator of choice, and solidify Lightspeed as the only destination for sophisticated active and semi-active traders," said Stephen Ehrlich, Chief Executive Officer, Lightspeed Financial, Inc. "Our acquisition of NobleTrading is an important step forward as we continue to grow our business and target a broader segment of individual traders through an expanding product offering centered on client service and education."
Ehrlich noted that this deal is the third successful acquisition Lightspeed has made in the active trading arena since its inception less than four years ago. Past acquisitions include retail trading firms Schonfeld & Company, LLC, and Integrity Trading Inc.
New York-based NobleTrading provides its nearly 1,600 clients with DMA trading services across a host of asset classes including equities, options, futures and forex. NobleTrading clients execute approximately 25 million shares per day and total client assets are $62 million. The firm is a registered broker-dealer, a member of FINRA, SIPC and the NFA, and has a clearing relationship with Penson Financial Services.
"Lightspeed is certainly best-in-breed among active trading firms and a perfect fit to ensure that our valued clients receive all of trading tools, resources, and support services needed to help them trade with success," said John Muscatella, President and Chief Executive Officer, NobleTrading.
Michael Sedek, Managing Director, Lightspeed Financial, Inc., said, "Noble's sophisticated clients have similar trading styles and expectations from their broker as our clients, so we are confident they will feel right at home with Lightspeed."
Muscatella, along with NobleTrading Principals John Ferrara and Daniel Pipitone, founded the firm in 1999.