About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Lime Brokerage Rolls LimeDirect Pre-Trade Risk; Minimises Latency, Shuns FPGA Technology

Subscribe to our newsletter

Lime Brokerage has rolled out its LimeDirect pre-trade risk service – providing compliance for SEC rule 15c3-5 while adding minimal latency. But unlike competitive services, the offering – which Lime officials say is based on an “innovative blend of hardware and software” – does not leverage FPGA technology, because Lime technologists believe it is too inflexible in terms of rapid code development and ongoing maintenance.

David Polen, managing director for systematic trading and product management at Lime, declines to provide details about the technology that is being used, but says that the performance is such that LimeDirect adds less than 250 nanoseconds of latency in each direction for a transaction. In this respect, he “firmly believes” LimeDirect to be the lowest latency pre-trade risk offering available.

Observers have speculated that network packet processors, as used by the likes of Artha Financial Technology, Fundamental Interactions and Mantara might be being leveraged by Lime, since they provide FPGA-like performance, but with better programmability.

As well as providing common 15c3-5 checks, such as fat finger, quantity, notional boundary and limit-too-far, LimeDirect also offers support for Reg NMS and Reg SHO, and can track aggregate exposures across multiple markets to maximise use of margin funds. It also generates end-of-day Oats reports.

LimeDirect can be deployed as a standalone service or in conjunction with other Lime offerings, including its LimeInside sponsored access service and its Citrius market data feeds. Customers might typically deploy LimeDirect with their own connectivity for markets where the lowest latency is required, and use LimeInside for other markets, where latency is less of a driver.

Subscribe to our newsletter

Related content

WEBINAR

Recorded Webinar: The Role of Data Fabric and Data Mesh in Modern Trading Infrastructures

The demands on trading infrastructure are intensifying. Increasing data volumes, the necessity for real-time processing, and stringent regulatory requirements are exposing the limitations of legacy data architectures. In response, firms are re-evaluating their data strategies to improve agility, scalability, and governance. Two architectural models central to this conversation are Data Fabric and Data Mesh. This...

BLOG

Platform-Led Strategies for Solving Market Data Fragmentation, Cost and Governance Challenges

For any Chief Data Officer or Head of Trading Technology, the line item for market data is both one of the largest and most complex to manage. The challenge is no longer simply about plumbing feeds into applications. It is a strategic imperative to control spiralling costs, integrate a chaotic mix of traditional and alternative...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

Managing Valuations Data for Optimal Risk Management

The US corporate actions market has long been characterised as paper-based and manually intensive, but it seems that much progress is being made of late to tackle the lack of automation due to the introduction of four little letters: XBRL. According to a survey by the American Institute of Certified Public Accountants (AICPA) and standards...