Macgregor is to integrate technology from Lava Trading - a provider of direct access securities dealing software - with its buy side order management system XIP.
Packaged as Macgregor Liquidity Access (MacLA), the integrated product will include the Lava ColorBook - which consolidates market data from ECNs and exchanges and routes orders, and front-end system Lava Trading Floor, which allows for order entry across all available execution services.
The product will combine OMS, ECN aggregation and electronic exchange trading capabilities into an integrated single platform that directly supports multiple sponsoring broker/dealers. It will allow clients to trade behind numerous brokers' names and help preserve the anonymity of trades in the marketplace.
Clients will receive full depth of book (including aggregated Level II market data), intelligent order routing and direct connectivity to all major exchanges, ECNs and alternative trading systems.
Macgregor is the first OMS vendor to offer Lava's trading functionality as an integrated component.