NEW YORK SEPTEMBER 09, 2020
Lightspeed Financial Services Group (LFSG) and Score Priority Corp (SPC) are pleased to announce an agreement for SPC’s acquisition of Lightspeed’s High Frequency Trading assets (Lime). The acquisition is scheduled to close on Friday, October 30.
Score Priority will acquire Lightspeed’s high frequency business, low latency execution technology, Lime client base, Lime specific employees, and the Lime brand name as part of the agreement. Score Priority will absorb and leverage the Lime assets into its existing business lines and technological infrastructure. Lightspeed will continue to operate its professional trading operations.
Lightspeed Financial Group’s CEO, Farid Naib, comments, “Lightspeed is the home of professional traders. Our intent is to focus on our offering to this group, continuing to expand on our delivery of market-leading service and technology while seeking to broaden and deepen our offerings to our customer base. Our HFT business was a bit adjacent to this focus, and we believe that a transfer of these assets to SPC while we focus on the Lightspeed brand was in the Lime client’s best interests."
“We are confident that acquiring the industry-leading Lime assets of LFSG is a powerful next step as Score Priority further expands into the institutional brokerage space,” said Anthony Huck, Chief Executive Officer of Score Priority. “We are looking forward to providing enhanced products and services to the Lime and Score Priority institutional client bases with the signature reliability and efficiency that they expect and will receive.”
The Lime business will join Score Priority’s growing product portfolio and business affiliates, which currently includes Novoadvisor, an automated copy trading solution, pairing asset managers with eager investors, Try2BFunded, a competitive, subscription-based capitalization solution for aspiring traders and asset managers, and Score Priority Club, a social network and community for active traders. For more information, visit http://www.scorepriority.com.
About Score Priority Corporation
Score Priority is a diverse financial services organization, offering a full suite of services for active retail, professional and institutional clients. Using a multitude of service providers and in-house proprietary technology, Score Priority offers execution products and services for the equities, options, and futures markets. With headquarters in midtown Manhattan and a corporate presence in Boston, Chicago, Los Angeles, and Austin, Score Priority operates with its trademark attentive service, innovative products, and state-of-the-art technological solutions. Score Priority executes across all U.S. lit exchanges and prominent dark venues on a pure agency basis.
About Lightspeed Financial Services Group
Lightspeed Financial Services Group is the home of professional traders. Lightspeed is a premier provider of equities, options, and futures brokerage services for active and professional traders. Headquartered in New York City and with offices in Chicago our hallmarks of service, stability, and technological know-how are recognized by traders across the United States. Lightspeed’s combination of highly customizable, real-time ultra-low-latency solutions with world-class, expert service helps us keep traders at the top of their game, regardless of market conditions.