Lime Names Tbricks as Third CEP Trading Systems Integration Partner

Lime Brokerage and Tbricks have teamed up to combine the agency broker’s ultra high speed infrastructure and the trading software supplier’s high performance trading systems for the benefit of high frequency trading firms, hedge funds and broker-dealers that require high volume and low latency access to the US markets.

The strategic integration allows clients using Tbricks’ trading systems, which are based on complex event processing (CEP) technology and designed for automated and computer assisted trading, to access US equities and futures markets through Lime’s high speed infrastructure. Conversely, the combined solution offers European market access through Tbricks’ existing high speed networks. Tbricks plans to extend its capabilities to support trading in US options through Lime in the near future.

Customers will also have access to Lime’s low latency Citrius market data for US markets through the Tbricks’ system and will benefit from Lime’s single digit microsecond pre-trade risk controls that are compliant with the US Securities and Exchange Commission (SEC) rule banning unfiltered access to all US order flow. The SEC rule is due to come into effect in the US on 14 July 2011, but Lime also sees benefits in Canada where a similar rule is expected to be drafted, leading the firm to plan market access to Canada “sooner rather than later”.

John Jacobs, chief operating officer at Lime Brokerage, says: “A couple of our clients were already using Tbricks’ trading systems, so it made sense to connect the two high performance solutions together. Customers can connect any CEP application to our network and maintain that connection, but this strategic integration creates a partnership that will be maintained at organisation rather than customer level, making it a lot easier for customers. If Lime customers are looking for a CEP system, we can offer Tbricks, while Tbricks can offer its customers access to our high speed infrastructure.”

From Tbricks point of view, chief operating officer Urs Rutschmann, adds: “This is an important step for Tbricks and its clients. Our partnership with Lime Brokerage gives our customers the same high speed access to US markets as they currently enjoy in Europe, all through the same Tbricks platform.”

While Lime has similar strategic integration agreements with CEP suppliers Orc Software (see recent news on which here) and StreamBase Systems, Tbricks is a relatively recent market entrant and in some circumstances may have an edge in avoiding backward compatibility issues. Looking forward, Jacobs says: “We have other CEP providers on our radar, but whether we will make formal agreements with them depends on client demand.”