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Lime Brokerage introduces sponsored access offering for HFT firms

24 March 2010  |  3082 views  |  0 Source: Lime Brokerage

Lime Brokerage, 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.

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 CitriusTM, 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 releliability, 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."

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