Does Anyone Use Lime Brokerage?

[FrankSlaughtery]

Quote from jjs235:

Long story short, I could not be happier with Lime Brokerage now that I have changed my account over. Lime is wayyyyyyyyy better than IB in terms of commissions, speed, and slippage.

what do you pay for options commission if you don't mind? did you have to negotiate a deal or was it take it or leave it from them?

 

[1245]

Lime Brokerage is the Low latency, high frequency execution subsidiary of Wedbush Securities. The only reason to use them is for Low latency requirements and FIX connections. Lime is not a retail oriented broker, so you won’t find a standard commission schedule. It’s negotiated and you will get different prices when you speak to different people. I don't believe you can use Lime for execution and clear at IB. IB will not be able to monitor risk and margin on the Lime Platform. My best guess is that for IB to allow this, you will need an account with over $5M.

Regarding the minimum commissions per month, many Institutional Prime Brokers have those requirements including Wedbush and ABM AMRO, the two clearing relationships they have.

Blackstormcap asked about Knight Capital. Knight does not current offer this service to non-broker dealers for securities, only futures.

 

[jjs235]

Quote from 2rosy:

i used lime at work in '08 for us equities. back then i wouldn't consider it for retail use

If you trade over 1,000,000 shares/month and are coded up with FIX connectivity, it would not hurt to inquire.

 

[jjs235]

Quote from FrankSlaughtery:

what do you pay for options commission if you don't mind? did you have to negotiate a deal or was it take it or leave it from them?

That is negotiable. If they really want your business, they will beat whatever your current commissions are. I only trade equities, and they beat IB.

 

[1245]

Quote from jjs235:

If you trade over 1,000,000 shares/month and are coded up with FIX connectivity, it would not hurt to inquire.

Their target market is more accounts over $1m trading over 10M shares a month.

 

[Random.Capital]

These days, Lime is in the "really wants your business" category, for sure. They have been hurting something fierce, and their dev office is practically a ghost town these days.

 

[2rosy]

Quote from jjs235:

If you trade over 1,000,000 shares/month and are coded up with FIX connectivity, it would not hurt to inquire.

aren't all equities routed away or traded on a dark pool now. I thought anything going to an exchange is what no one else wants.

I do see that lime offers futures and options which is new.

 

[WinstonTJ]

Quote from jjs235:

Let's get more information out there on Lime Brokerage within Elite Trader's forums. I'm sure I'm not the only member here looking for more information on Lime.

I have been debating switching to Lime Brokerage from Interactive Brokers for over a year now and would be grateful for some constructive/helpful feedback.

I meet all of their requirements (call them to discuss), but would have to start implementing FIX to use their systems effectively. What would be the benefits of switching for a low latency trader using IB (not high frequency yet), and what would the downsides be? Also, how trustworthy is this firm in regards to stealing trading ideas (at one time the hedge fund Tower Research traded through lime and was owned by the same company)?

Thanks for your time and feedback in advance.

Not trying to be rude but if you have to ask you probably don't belong there.

How do you feel about Wedbush?

Why consider switching from IB? Are you colo at IB? (Where)

 

[jjs235]

Quote from WinstonTJ:

Not trying to be rude but if you have to ask you probably don't belong there.

How do you feel about Wedbush?

Why consider switching from IB? Are you colo at IB? (Where)

LOL. If you kept reading you would see I am now a VERY happy client of Lime Brokerage with FIX connectivity (mandatory) and wanted to pass on the information to others inquiring about Lime now or in the future. By reading this thread, forum members will have a greater understanding of the merits in switching to Lime.

IB is pathetic compared to Lime for high volume &/or low latency traders. I now use both, however, since IB has an impressive hard to short stock list.

I feel Wedbush is a safer bet than IB.

 

[jjs235]

Additionally, there is limited information out there for high frequency clients who created their own destiny and do not have a large network.

This thread applies to less than 1% of the elitetrader forum members, so this goes out to you. Hopefully at least one other forum member receives value from this thread.