Lightspeed Financial Inc., a New York, NY-based provider of direct market access (DMA) trading technology, risk management solutions, and brokerage services for retail traders, proprietary trading groups, hedge funds, and algorithmic trading firms, has received an investment from private equity firm LLR Partners. The company plans to use the proceeds from the financing to fund its acquisition of Terra Nova Financial, LLC, a specialized financial services firm focused on supporting trading professionals, and a wholly owned subsidiary of Terra Nova Financial Group, Inc. (OTCBB:TNFG).
The transaction is expected to close in the third quarter of 2010 and is subject to review and approval by regulators as well as Terra Nova Financial Group, Inc.’s shareholders.
FinSMEs
08/07/2010