With its move to offer low-latency market data to its buy side customers, Lime Brokerage is further adding to its arsenal of data, trading and risk services, perhaps making it look more like a technology vendor than market participant.
Lime’s new data service is based on technology from NovaSparks, which leverages FPGA technology to process direct exchange feeds, and to build a consolidated order book in an average of 880 nanoseconds.
The new data service adds to other offerings the Lime provides that take it beyond offering DMA and sponsored access connectivity for its customers, which is where many brokerages focus.
Recently, Lime rolled out a hosted historical tick database, based on OneMarketData’s OneTick database, focused on the needs of quant traders and analysts at its customers. Last year, it teamed with BT Radianz to offer pre-trade risk checks via the Radianz extranet, and earlier this year it rolled out LimeDirect, also in the pre-trade risk area, which customers can tap into, even if they use their own connectivity to markets. It also has partnered with Selerity to provide machine readable sentiment analysis via its LimeTrader platform. Last year, it acquired the assets of Cactus Trading Systems, a developer of algo trading systems.