Source: Lava Trading
Lava Trading Inc., a leading developer of high-performance trading solutions for the financial services industry, and a wholly owned, independently-operated subsidiary of Citigroup, Inc. (NYSE: C), today announced the successful implementation of Lava Trading's ColorPalette trading and order management system at Sanford C. Bernstein & Co., LLC.
Bernstein is one of the world's preeminent equity brokerage firms, known for its award-winning research to institutional customers.
The implementation of ColorPalette was part of a multi-year effort by Bernstein to modernize its trading platform. Bernstein chose ColorPalette after assessing a number of other OMS offerings.
"With the implementation of Lava's ColorPalette system, our trading platform is seamlessly integrated and state-of-the-art," said Tom Wright, Senior Vice President and Head of Global Trading, Sanford C. Bernstein & Co. "ColorPalette positions us for continued growth, and lets us prepare for the anticipated market structure changes associated with the NYSE hybrid market and Regulation NMS. We look forward to continuing to work with Lava on additional enhancements to the ColorPalette system."
ColorPalette is a powerful sector-based trading and order management solution, designed as a high-throughput, fully automated system for managing institutional and retail customer orders. Its features include streamlined regulatory handling of current rules for all capacity orders, customer order crossing and internalization management, open architecture with standard and strategically-placed APIs, complete trade risk management, and TraderIntelligence(TM), a dynamic order-based query.
"We are pleased that Bernstein is part of the growing number of premier global firms using Lava's OMS solution," said Richard Korhammer, CEO, Lava Trading. "We look forward to a productive relationship working in partnership with Bernstein to further enhance their trading platform and meet the ever-changing needs of today's marketplace."