API TRADING
Lime Direct API &Fix ProtocolLow latency trading technology for systematic tradersYour strategy, Powered by Lime™Markets move in milliseconds. So should your strategy.Request Consultation
Tap into trading infrastructure designed for speed and stability
Lime is both a technology company and a broker-dealer. We rely on almost 20 years of experience helping quants connect with a fast, reliable, direct market access (DMA) gateway to the US equity and options markets.Now, you can support your strategy with a comprehensive suite of services for the low latency trader. We’ve built our offering to help you optimize your fill rates with high performance and throughput.
The Lime Advantage
High Capacity Processing
In 2024, Lime’s technology:
• Executed over 18 billion shares
• Processed over 20 billion messages(new orders, replaces, cancels)
• Over 41 Trillion shares ordered
• Sustained 0 outages
Flexible Solutions
• DMA gateways via: VPN, FIX, API (written in Java, C++ and Python)
• Secure hosting and colocation at major data centers
• Market data
• Customized algo and smart order routers
Agency Broker
• Market-neutral execution delivery for privacy
• No internalization or proprietary trading
LIME DIRECT ACCESS
What’s between you and the markets?Lime Trading Corp. is a member of 14 Exchanges and many dark pools. Our collocated infrastructure allows you to route directly to these venues, with a focus on low latencyExchange memberships
NYSENYSE ARCANYSE ARCANYSE American
NasdaqNasdaq BXNasdaq PSX
CBOE EDGXCBOE EDGACBOE BATS-YCBOE BATS-Z
MEMXIEXMIAX Pearl
Dark Pool/ATS memberships
Barclays Capital LX Liquidity CrossBIDS ATSCitadelCoda MarketsCredit Suisse CrossFinder
Global OTC ARCAGoldman Sachs SIGMA-XInstinet CBXIntelligent Cross INCRITGP Posit
JP Morgan – JPMXLevel ATSVirtu Matchit – KMATCHXTX Direct
Lime Smart Order Router
Is your smart order router smart enough?We built our smart routing on top of our direct access infrastructure, giving you access to proven technology that can route for you, while maintaining your security.
Lime’s smart routing gives quant traders access to our connected venues via our low latency infrastructure.
The orders are customizable along many parameters, including number and goal of phases, venues available in each phase, aggression and display settings.
Lime’s smart routing gives quant traders access to our connected venues via our low latency infrastructure.
The orders are customizable along many parameters, including number and goal of phases, venues available in each phase, aggression and display settings.
Highly customizable using multi-phase strategy
Sequential or parallel access to lit, inverted, and dark markets
Selectable aggression settings and order options (e.g., limit max display quantity)
Featured Equity Strategies for Lime's Smart Order Router
Lime’s Smart Order Router (LSR) was created for our most demanding low-latency clients so that they can achieve optimal execution that matches their goals.Featured Equity Smart Order Strategies:
Lime Smart Router
Optimizes for speed, prioritizing visible liquidity while accessing both displayed and non-displayed markets. Seeks liquidity at full limit price, posting non marketable orders after unproductive sweeps.
Cost Effective
Optimizes for low market center fees, consuming available liquidity across displayed and non-displayed markets first from more cost effective venues before moving on to higher cost venues, and then posts any remainder on venues with higher rebates.
Dark Sweep
Algorithm seeks to optimize sourcing dark liquidity while lowering transaction costs.
Passive
A strategy that seeks to trade passively to avoid paying the full spread. Exhausts available mid-point liquidity with multiple sweep phases on dark, inverted, and lit markets.
Hidden
Accesses liquidity for all venues supporting invisible or hidden order types then continuously sweeps dark pools and posts hidden orders on lit venues.
Neutral
A strategy seeking to avoid paying full bid/ask spread that first sweeps dark, inverted and non-inverted lit markets with mid point pegging, then sweeps liquidity on dark and inverted markets without pegging, and finally sweeps and posts on lit markets as iceberg orders, seeking price improvement and low fee executions.
Lime Smart RouterOptimizes for speed, prioritizing visible liquidity while accessing both displayed and non-displayed markets. Seeks liquidity at full limit price, posting non marketable orders after unproductive sweeps.- Algorithm seeks to optimize sourcing dark liquidity while lowering transaction costs.
- Accesses liquidity for all venues supporting invisible or hidden order types then continuously sweeps dark pools and posts hidden orders on lit venues.
- Optimizes for low market center fees, consuming available liquidity across displayed and non-displayed markets first from more cost effective venues before moving on to higher cost venues, and then posts any remainder on venues with higher rebates.
- A strategy that seeks to trade passively to avoid paying the full spread. Exhausts available mid-point liquidity with multiple sweep phases on dark, inverted, and lit markets.
- A strategy seeking to avoid paying full bid/ask spread that first sweeps dark, inverted and non-inverted lit markets with mid point pegging, then sweeps liquidity on dark and inverted markets without pegging, and finally sweeps and posts on lit markets as iceberg orders, seeking price improvement and low fee executions.
Featured Equity Strategies for Lime's Smart Order Router
Lime’s Smart Order Router (LSR) was created for our most demanding low-latency clients so that they can achieve optimal execution that matches their goals.Featured Equity Smart Order Strategies:
Lime Smart Router
Optimizes for speed, prioritizing visible liquidity while accessing both displayed and non-displayed markets. Seeks liquidity at full limit price, posting non marketable orders after unproductive sweeps.
Dark Sweep
Algorithm seeks to optimize sourcing dark liquidity while lowering transaction costs.
Hidden
Accesses liquidity for all venues supporting invisible or hidden order types then continuously sweeps dark pools and posts hidden orders on lit venues.
Cost Effective
Optimizes for low market center fees, consuming available liquidity across displayed and non-displayed markets first from more cost effective venues before moving on to higher cost venues, and then posts any remainder on venues with higher rebates.
Passive
A strategy that seeks to trade passively to avoid paying the full spread. Exhausts available mid-point liquidity with multiple sweep phases on dark, inverted, and lit markets.
Neutral
A strategy seeking to avoid paying full bid/ask spread that first sweeps dark, inverted and non-inverted lit markets with mid point pegging, then sweeps liquidity on dark and inverted markets without pegging, and finally sweeps and posts on lit markets as iceberg orders, seeking price improvement and low fee executions.
Lime Smart RouterOptimizes for speed, prioritizing visible liquidity while accessing both displayed and non-displayed markets. Seeks liquidity at full limit price, posting non marketable orders after unproductive sweeps.- Algorithm seeks to optimize sourcing dark liquidity while lowering transaction costs.
- Accesses liquidity for all venues supporting invisible or hidden order types then continuously sweeps dark pools and posts hidden orders on lit venues.
- Optimizes for low market center fees, consuming available liquidity across displayed and non-displayed markets first from more cost effective venues before moving on to higher cost venues, and then posts any remainder on venues with higher rebates.
- A strategy that seeks to trade passively to avoid paying the full spread. Exhausts available mid-point liquidity with multiple sweep phases on dark, inverted, and lit markets.
- A strategy seeking to avoid paying full bid/ask spread that first sweeps dark, inverted and non-inverted lit markets with mid point pegging, then sweeps liquidity on dark and inverted markets without pegging, and finally sweeps and posts on lit markets as iceberg orders, seeking price improvement and low fee executions.
Lime Benchmark algos
Lime’s benchmark algo orders also take advantage of our direct access and smart routing infrastructure, expanding on those technologies to deliver the desired benchmark as closely as possible.Benchmark Algorithms
Execute large orders with benchmark algorithms that seek to replicate those benchmarks. Algorithms are extensively customizable. Orders are sent via our low latency network and utilize our smart order technology.Featured Equity Smart Order Strategies:
Volume-Weighted Average Price (VWAP)
Minimizes the slippage against the volume weighted average price over the course of the order
Time-Weighted Average Price (TWAP)
Minimizes the slippage against the time weighted average price over the course of the order.
Percentage of Volume (POV)
Tracks and reacts to real-time market volumes to target a user-defined participation rate.
Scaled Percentage of Volume (SCALEPOV)
Builds on the POV strategy by dynamically adjusting the target market participation rate as a function of real-time market conditions relative to a chosen benchmark.
Implementation Shortfall (IS)
Creates a front loaded execution schedule versus the historical vwap pattern to better capture prices at the arrival time of the order.
Close (CLOSE)
Creates a back loaded execution schedule versus the historical vwap pattern to better capture prices towards the end of an order.
Lime Benchmark algos
Lime’s benchmark algo orders also take advantage of our direct access and smart routing infrastructure, expanding on those technologies to deliver the desired benchmark as closely as possible.Benchmark Algorithms
Execute large orders with benchmark algorithms that seek to replicate those benchmarks. Algorithms are extensively customizable. Orders are sent via our low latency network and utilize our smart order technology.Featured Equity Smart Order Strategies:
Volume-Weighted Average Price (VWAP)
Minimizes the slippage against the volume weighted average price over the course of the order
Scaled Percentage of Volume (SCALEPOV)
Builds on the POV strategy by dynamically adjusting the target market participation rate as a function of real-time market conditions relative to a chosen benchmark.
Time-Weighted Average Price (TWAP)
Minimizes the slippage against the time weighted average price over the course of the order.
Implementation Shortfall (IS)
Creates a front loaded execution schedule versus the historical vwap pattern to better capture prices at the arrival time of the order.
Percentage of Volume (POV)
Tracks and reacts to real-time market volumes to target a user-defined participation rate.
Close (CLOSE)
Creates a back loaded execution schedule versus the historical vwap pattern to better capture prices towards the end of an order.
LimeDirect™
Connect
Plug into exchanges with our API, delivering speed to market with less up-front development requirements
Binary
Discover a binary solution that connects you with direct market access
Ultra
Reach direct market access with low latency, multiple connectivity options, and flexible order routing options
Our Partners
Our network of partners who help support your technology needs
Not sure where to start?
Let us guide you Get 30-Day Access to Our FIX Certification Environment
Let us guide you Get 30-Day Access to Our FIX Certification Environment
FIX Demo Certification Onboarding Process
01Complete the Sign-Up Form
Enter your name and email address using the form below. This will start your FIX demo onboarding.
02Check Your Email for a Login Code
Shortly after signing up, you’ll receive an email with a temporary, one-time login code.
Use this code on the Access Page to log in to your demo environment.
Use this code on the Access Page to log in to your demo environment.
03Log In to View Your Demo Environment
Once logged in, you’ll have access to:
• View your FIX and VPN credentials (if applicable)
• Check your demo environment status (e.g., active, waitlisted)
• Monitor days remaining in your 30-day demo period
• View your FIX and VPN credentials (if applicable)
• Check your demo environment status (e.g., active, waitlisted)
• Monitor days remaining in your 30-day demo period
04Start FIX Integration and Testing
Use the provided credentials
to connect to the demo environment. You can:
• Configure and validate FIX message formats
• Send test orders
•Simulate various trading scenarios
to connect to the demo environment. You can:
• Configure and validate FIX message formats
• Send test orders
•Simulate various trading scenarios
05End of Demo Period
After 30 days, your access to the demo environment will automatically expire.
If you're ready to move forward with a production account, contact our sales team at sales@lime.co.
If you're ready to move forward with a production account, contact our sales team at sales@lime.co.