Discussion in 'General Discussion' started by Edward, Jul 2, 2015.

  1. Edward

    Edward Well-Known Member

    I just received a letter from LiveVol Securities saying my account will be transferred to Lightspeed Trading by July 31, 2015!
    The letter said that Interactive brokers will continue to be the clearance and settlement service. Obviously there are a lot of questions generated by this letter.

    I have live open positions at LiveVol Securities and is continuously being traded. Will the transfer disrupt my continuous trading??? I am most concerned about that.

    It sounds like LiveVol is getting out of the Introductory broker business. It could be that I may have to learn Lightspeed Trading Platform fast if I were to stay on. The part of the letter saying Interactive brokers will continuer to be the clearance and settlement service is puzzling since I am not aware that Lightspeed Trading is an introductory broker for Interactive brokers. Lot and Lots of questions.


    July 1st, 2015

    Re: Change in introducing firm Relationship

    Dear Account Owner:

    This letter is to inform you that your account currently held with Livevol Securities, Inc. (“Livevol Securities”) will be transferred to Lightspeed Trading, LLC (“Lightspeed Trading”) effective July 31, 2015 [not less than 30 days from date of this letter]. If you maintain a traditional retirement account (“IRA, Roth IRA”), your custodian, Equity Trust Company, will not change based upon this transfer. This change is a result of the recent acquisition of the accounts of Livevol Securities by Lightspeed Trading.


    There is no cost to the customer for this transfer to Lightspeed Trading by the conversion date. Unless you object to the transfer, or instruct your investment representative to do otherwise, your account will be automatically transferred to the new introducing broker, Lightspeed Trading. There will be no change to your account number, login and password, balances or positions, and Interactive Brokers, LLC will continue to provide clearance and settlement services on a fully disclosed basis for your account.

    Account holders who choose not to allow their accounts to be transferred to Lightspeed Trading must make arrangements for transfer of their brokerage account(s) to another broker-dealer of their designation or otherwise close the account by withdrawing the assets held by Livevol Securities. There will be no costs to the customer to transfer away from Lightspeed at any time before or after the conversion date. If you choose to transfer your account (also known as ACAT’s) to a different broker dealer other than Lightspeed Trading, you should initiate an ACAT transfer. Be aware that account transfers are initiated by the receiving broker, and can typically take up to 10 business days or more. For this reason, immediate action is advised on your part if you choose this option, preferably by July 15, 2015.

    All of the transfers described in this notice are in compliance with Securities and Exchange Commission Regulation S-P, Privacy of Consumer Financial Information (see Privacy Notice below).

    If you have any questions, please contact Livevol Securities at or call 866-575-0268 at the business hours of 9am-5pm EST.


    Luis Alvira

    Principal, Livevol Securities Inc.
  2. Gabor Maly

    Gabor Maly Well-Known Member

    Hi Edward, I would not be too worried and doubt there will be any disruption to trading. I hope and think the platform remains and even gets better but future will tell.
    You are right they may choose to get out of the IB clearing structure, will see.
  3. ian_uk

    ian_uk Member

    Livevol support have confirmed we can still use the livevol x interface after the transfer.
  4. Edward

    Edward Well-Known Member

    Update: LiveVol Securities said that if we do nothing everything should be transparent. Just the name has change. It looks like LiveVol Securities may have been acquired by Lightspeed (My Guess). If that is the case the LiveVol letter stating they are selling their client accounts isn't the most accurate statement. Their firm has been acquired.
  5. Tim R

    Tim R Active Member

  6. Edward

    Edward Well-Known Member

    Thanks for the news Tim. Apparently CBOE holdings is acquiring the LivevolX trading platform. This makes things more confusing more then ever. LiveVol Securities representives have said that we can continue to use LivevolX when our accounts move to Lightspeed trading but if the platform is sold to CBOE holdings how can Lightspeed Trading use the trading platform:confused:?? Apparently not just two parties are involved here; now it's Three! LiveVol Securities said there would be more information forthcoming given to their clients. For now things are a mystery. Anyone with additional insights on this matter can certainly post additional info.
  7. tom

    tom Administrator Staff Member

  8. Gabor Maly

    Gabor Maly Well-Known Member

    Don't leave out IB, there are 4 parties in this! :)
  9. Kevin Lee

    Kevin Lee Well-Known Member


    Any one care to share your experience on the Livevol X ? What kind of volatility analysis does the platform offer?
    Thank you.
  10. Gabor Maly

    Gabor Maly Well-Known Member

    I was on IB so for me moving to Livevol was a step up also considering that I could still stay with IB and run both parallel. I love that I can quickly and effortlessly place and modify orders and I like the commissions (provided the order size is at least 4 lot) but pretty much that's it. When it comes to options analytics I expected much better and it does not come near to what TOS offers. Yes you can analyze your position with a "dynamic" vol skew option that may be something like the variable model in OV (just may be) but I didn't even get there to be interested in this feature, there are so much lacking you are basically unable to look at and include the closed out parts of your position in the analysis, there are no expiration graphs, and for me visuals are weak just to name a few. One thing that is neat is that in the options chain you can set and play with the volatility for any strike one by one (I have not yet figured out what to do with this). Livevol does offer a volatility skew graph for all the expirations and you can play back in time and see how they moved around, but as you can't overlay today's vol with yesterday's vol I find it difficult to read and I don't use it (I use IB's volatility analysis.)

    Hopefully the product gets better and better, maybe this acquisitions will give it a little boost.
  11. Edward

    Edward Well-Known Member

    The latest letter from LiveVol.
    Dear Livevol Securities Customer,

    As you may be aware, Livevol, Inc. (our parent company) was acquired by the CBOE (Chicago Board Options Exchange).

    The CBOE is not allowed to operate a broker dealer. The team at LiveVol Securities has worked diligently to secure a home for our valued clients, and have been working with LightSpeed Trading to transition our business there.

    Lightspeed plans to offer the same commissions, platform access and same level of service you enjoyed at Livevol Securities.

    Additionally, your existing account number, log-in and password information will remain the same.

    Interactive Brokers will continue to provide clearance and settlement services on a fully disclosed basis to your account.

    We are working with Lightspeed and Interactive Brokers to ensure that there is no interruption in trading and foresee a transition that should appear seamless to the customer.

    Lightspeed will be reaching out to you prior to the July 31st, 2015 transition date with more information.

    We thank you for your support throughout the years and wish you good health, happiness and successful trading.


    Livevol Securities
  12. RayM

    RayM Well-Known Member

    >>> As you may be aware, Livevol, Inc. (our parent company) was acquired by the CBOE (Chicago Board Options Exchange).
    >>> The CBOE is not allowed to operate a broker dealer.
    So, what does CBOE need with a great analytic program like LiveVol ???

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