Lava Trading Inc., a leading developer of high performance software for large securities trading floors, today announced a major advancement in trading Listed securities electronically on the Lava platform.
Lava has significantly enhanced its world-class trading platforms, ColorBook (R) and Trading Floor(R), to fully support all aspects of trading NYSE, AMEX and other Listed securities. From one platform, Lava customers can now trade Listed, ETF and Nasdaq securities, providing a single, powerful solution for Listed and sector-based trading. The Lava system supports single stock, list, portfolio and basket trading.
Among the specific enhancements, ColorBook's intelligent orders have been upgraded to handle the current Listed trade-through rules, whether a strict trade-through for Listed stocks or the 3-cent de minimis trade through for QQQ, DIA and SPY. The Lava system also now provides full support for Listed order types and market data including Liquidity Quote, NYSE Direct+, InterMarket Quote Feed and Institutional Xpress. In addition, Lava's proprietary intelligent order types have been customized for Listed trading.
"With recent attention on potential market structure changes in the Listed industry, Lava has further enhanced its Listed offering to allow our customers to succeed in a changing marketplace," said Richard Korhammer, Chairman and CEO, Lava Trading Inc. "Our innovative platform is uniquely positioned to intelligently access all major Listed trading liquidity destinations and is designed to meet these evolving industry challenges. We have created the ultimate single trading platform solution for both Listed and Nasdaq securities."
With functionality tailored to each security type, access to multiple pools of liquidity, full depth market quotes, and sophisticated trading strategies, Lava's Listed solution is designed for traditional Listed and sector trading desks and also addresses the needs of the buy-side, proprietary trading and program trading communities.
"Many Listed traders are not connected to all the liquidity sources provided by Lava," said, Andrew Kagan, Product Manager, Listed Solutions, Lava Trading Inc. "Using Lava's Listed trading solution will potentially result in better fills, increased speed and better prices. With significant volume being traded off of the primary market, it is vital for Listed traders to have complete access to all major liquidity pools in order to maximize price improvement opportunities."