Lightspeed Trading and Livevol Securities announced that they have reached an agreement for Lightspeed Trading to acquire certain brokerage assets of Livevol Securities. Livevol X is a platform that Livevol has provided their customers with for some time. CBOE Holdings recently purchased Livevol X and other options trading technology from Livevol. Effective August 1, Lightspeed Trading entered into an enterprise license agreement with CBOE to use Livevol X. As part of this acquisition, Lightspeed Trading will now make Livevol X available for free for new Lightspeed Trading clients.
Livevol was looking for a new home for both brokerage clients and staff. CEO Catherine Clay said, “We feel that Lightspeed Trading, a wholly owned subsidiary of Professional Trading Solutions, can provide our brokerage clients with the same exceptional service that they have enjoyed at Livevol.”
Farid Naib, CEO of Professional Trading Solutions, recently welcomed Livevol clients and staff to Lightspeed Trading. Naid said, “We have always been impressed by both Livevol’s technology and their brokerage operations.” Lightspeed Trading will now be working with CBOE as their new technology provider.
In the 2015 Stockbrokers.com Online Broker Review, Lightspeed Trading was awarded Best in Class for Commissions & Fees and Active Trading.
Click here for the full press release from Lightspeed Trading regarding this acquisition.