Source: Lava Trading
Lava Trading Inc., the innovative technology firm that develops unique, high-performance trading solutions for the financial services industry, and Micro Design Services, LLC (MDS), a leader in the design and development of sophisticated software products for the financial industry, today announced an agreement to provide MDS' MarketLook Information System (MLIS) to Lava's customers.
MLIS will now be directly available through the Lava platform to users of ColorPalette, Lava's innovative sell-side trading and order management system. The patented MLIS provides a direct interface to exchange trading floors.
"We welcome this partnership and believe it will prove very beneficial to Lava's clients," said Roman Szymansky, President of MDS. "MLIS is the premier messaging product used to communicate with the NYSE floor community with over 1400 terminals in use everyday. The addition of MLIS to Lava's suite of tools will further enhance the ability of Lava's customers to compete on the NYSE."
MLIS provides a central server facility that interfaces to an exchange's Booth system and wireless data network, receiving real-time market actions and quotes directly from the exchange floor. Traders get instant messaging in text or handwriting directly from equity, future, and option exchanges throughout the country. MLIS users can monitor selected stock information, establish user profiles and stock watch lists and review history.
"We are very pleased to partner with MDS, a company that shares our commitment to outstanding technology," said Richard Korhammer, Chairman and CEO, Lava Trading Inc. "ColorPalette, with its sophisticated trade and order management capabilities, has proven very popular with Lava's customers. Integrating MLIS into the Lava system will offer significant advantages to ColorPalette users, including the ability to interface with an exchange floor via their existing Lava connection. We think this will be very attractive to ColorPalette users, many of whom have already chosen to utilize MLIS through Lava."
ColorPalette is a sector-based trading and order management solution, designed as a high-throughput, extensively 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, a dynamic order-based query.