Here's some basic info from some of my old bookmarks
The Genus Lysmata
This genus is unique in caridean shrimp as they are Protandric Simultaneous Hermaphrodites (PSH). This means they first possess male organs and obtain female organs as they mature, while retaining the function of male organs. However they are incapable of self fertilization. As such, any two individuals can make up a pair.
Smaller individuals often do not possess female sexual functionality.
Newly moulted shrimp appear to release some kind of pheromone which signals to other shrimp that it is receptive for mating. The suitor races rapidly to the receptive shrimp and aligns itself directly below. A sperm packet is passed to the receptive shrimp. The mating is rapid, lasting only a few seconds.
Larvae released usually during the night every 12-14 days depending on species. Shrimp normally moult within a few hours of larval release.
L. amboinensis are very prolific, with larval counts of 500-1000+ depending on conditioning and maturity.
Eggs are carried by the pleopods.
Eggs are held normally held for 12-14 days depending on temperature and species. Hatching temperature is usually around 25 to 28 ºC .
Larvae will be approx 2mm at time of hatching. Yolk sac, mouth and eyes will all be present.
Careful attention must be paid to aeration as larvae are prone to aeration damage after zoea IV is reached.
Although yolk reserves can sustain larvae for days, they are best fed immediately after hatching.
Newly hatched brine shrimp (BBS) in the beginning will do. Rotifers and microalgae are usually omitted but should increase initial survival as well as settlement success.
Age at meta: As early as 21 days for L. wurdemanni. 50+ days for L. debelius. >120 days for L. amboinensis.
Overall prognosis: L. debelius and the peppermint shrimp complex are the most widely attempted and could be considered commercially viable. Recently promising work has also been performed on L. seticaudata. Only very limited success with regards to L. amboinensis.
References:
Bauer, R. T., Holt, G. J., 1998. Simultaneous hermaphroditism in the marine shrimp Lysmata wurdemanni (Caridea: Hippolytidae): an undescribed sexual system in the decapod Crustacea. Marine Biology 132, 223-235.
Bauer, R. T., 2002. Reproductive ecology of a protandrous simultaneous hermaphrodite, the shrimp Lysmata wurdemanni (Decapoda: Caridea: Hippolytidae). Journal of Crustacean Biology 22(4), 742-749.
Bauer, R. T., Newman, W. A., 2004. Protandric simultaneous hermaphroditism in the marine shrimp Lysmata californica (Caridea: Hippolytidae). Journal of Crustacean Biology 24(1), 131-139.
Blanchard, L., 1992. Ornamental shrimp culture: Lysmata grabhami. Technical report. Harbor Branch Oceanographic Institution, Inc., Fort Pierce, Florida, USA.
Calado, R., Bartilotti, C., Narciso, L., Santos, A.D., 2004. Redescription of the larval stages of Lysmata seticaudata (Risso, 1816) (Crustacea, Decapoda, Hippolytidae) reared under laboratory conditions. Journal of Plankton Research 26(7), 737-752.
Calado, R., Figueiredo, J., Rosa, R., Nunes, M.L., Narciso, L., 2005. Effect of temperature, density and diet on development, survival, settlement synchronism, and fatty acid profile of the ornamental shrimp Lysmata seticaudata. Aquaculture 245, 221-237.
Chace, F. A., JR., 1997. The caridean shrimps (Crustacea: Decapoda) of the Albatross Phlippine Expedition, 1907-1910, Part 7: Families Atyidae, Eugonatonotidae, Rhynechocinetidae, Bathypalaemonellidae, Processidae, and Hippolytidae. Smithson. Contr. Zool., 587: 1-106
Crompton, W. D., 1992. Laboratory culture and larval development of the peppermint shrimp, Lysmata wurdemanni Gibbes (Caridea: Hippolytidae), Part I: Laboratory culture. Master’s thesis, Corpus Christi State University, Corpus Christi, Texas, USA.
Fletcher, D. J., Kotter, I., Wunsch, M., Yasir, I., 1995. Preliminary observations on the reproductive biology of ornamental cleaner prawns. International Zoo Yearbook 34, 73-77.
Fiedler, G. C., 1998. Functional, simulataneous hermaphroditism in female-phase Lysmata amboinensis (Decapoda: Hippolytidae). Pacific Science 52, 161-169.
Lin, J., Zhang, D., 2001. Reproduction in a simultaneous hermaphroditic shrimp, Lysmata wurdemanni: any two will do? Marine Biology 139, 919-922.
Palmtag, M.R., Holt, G.J., 2001. Captive rearing of fire shrimp (Lysmata debelius). Texas Sea Grant College Program Research Report.
Rhyne, A.L., Lin, J., 2004. Effects of different diets on larval development in a peppermint shrimp (Lysmata sp. (Risso)). Aquaculture Research 35, 1179-1185.
Rufino, M.M., Jones, D.A., 2001. Observations on the function of the firth pereiopod in late stage larvae of Lysmata debelius (Decapoda, Hippolytidae). Crustaceana 74 (9), 977-990.
Simões, F., Ribeiro, F., Jones, D.A., 2002. Feeding early larval stages of fire shrimp Lysmata debelius (Caridea, Hippolytidae). Aquaculture International 10, 349-360
Wunsch, M., 1996. Larval development of Lysmata amboinensis (De Man, 1888) (Decapoda: Hippolytidae) reared in the laboratory with a note on L. debelius (Bruce, 1983). MSc thesis, University of Wales, Bangor, 110 pp
Zhang, D., Lin, J., Creswell, R. L., 1998a. Effects of food and temperature on survival and development in the peppermint shrimp Lysmata wurdemanni. Journal of World Aquaculture Society 29, 471-476.
Zhang, D., Lin, J., Creswell, R. L., 1998b. Ingestion rate and feeding behavior of the peppermint shrimp Lysmata wurdemanni on Artemia nauplii. Journal of World Aquaculture Society 29, 97-103.