By Theresa W. Carrey
Sept. 1, 2008
A SMALL FRY IN THE FREQUENT-TRADER marketplace not long ago, Lightspeed Trading has grown up since a management buyout of E*Trade's professional platform in 2006.
In a recent chat with Barron's, CEO Stephen Ehrlich reported that his clients trade an average of 150,000 to 200,000 shares per day -- and approximately 800,000 trades are executed daily. No wonder that Lightspeed's revenue popped from $15 million prior to the deal's closing to more than $100 million in just over a year.