Lightspeed Trading and Livevol Securities announced today that they have reached an agreement for Lightspeed Trading to acquire certain brokerage assets of Livevol Securities.
Livevol Securities provides its customers with options brokerage services, as well as access to a premier options execution platform, Livevol X. Livevol X is an all-in-one solution for execution, real-time analytics, and portfolio risk management for equities and options markets. The platform’s integrated suite of tools, scans, and algorithms enables it to provide an enhanced trading experience.
CBOE Holdings, Inc., the parent company of Chicago Board Options Exchange, Incorporated (CBOE), recently purchased Livevol X and other options trading technology from Livevol, Inc., Livevol Securities’ parent company. Effective August 1, Lightspeed Trading entered into an enterprise license agreement with CBOE to use Livevol X. As part of its acquisition of Livevol Securities, Lightspeed Trading will now make Livevol X available for free for new Lightspeed Trading clients.
“As a result of CBOE’s acquisition of our technology products, we needed a new home for our brokerage clients and staff”, said Livevol’s CEO Catherine Clay. “We feel that Lightspeed Trading, a wholly owned subsidiary of Professional Trading Solutions (PTS), can provide our brokerage clients with the same exceptional service that they enjoyed at Livevol.”
Farid Naib, Lightspeed Trading CEO, commented: “We have always been impressed by both Livevol’s technology and their brokerage operations. We welcome Livevol’s brokerage clients and staff to Lightspeed Trading, and we look forward to developing a successful relationship with CBOE as our new technology provider”.
For more information on Livevol Securities at Lightspeed Trading, click here.