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Lava launches electronic FX trading solution, Deutsche Bank signs up

13 October 2004  |  1651 views  |  0 Source: Lava Trading Inc

Lava Trading Inc., the technology firm that develops unique, high-performance trading solutions for the financial services industry, today announced the launch of its electronic foreign exchange product suite, LavaFX

Given its leadership position in the equities market, Lava’s entry into foreign exchange has generated significant interest in the FX community, with several major banks and financial services providers signed on to use LavaFX.

“The foreign exchange markets are continuing to evolve, with prime brokerage and online trading becoming more a part of everyday trading,” says Rita Saverino, Director, Foreign Exchange, Deutsche Bank. “As one of the world’s leading foreign exchange service providers, we are pleased to offer FX prime brokerage services on LavaFX.”

Utilising the company’s leading, proprietary technology core, LavaFX brings Lava’s world-class leadership in equities trading to the FX marketplace, providing a premier offering in global currency trading. Through LavaFX, the company is leveraging its business model to further transform the industry into a more electronic marketplace.

“In keeping with our mission to enhance securities trading through technology leadership, we are bringing a new class of service to foreign exchange trading,” says Richard Korhammer, CEO, Lava Trading Inc. “Electronic trading volumes are growing exponentially in the $1.9 trillion-per-day global foreign exchange market, and so too is demand for greater trading efficiency and transparency. LavaFX leverages Lava’s fast, reliable and intelligent trading solutions, to provide sophisticated, robust and straight-through foreign exchange trading. We believe LavaFX will truly revolutionize electronic global currency trading.”

The LavaFX product suite provides a multitude of features for comprehensive electronic foreign exchange trading. It aggregates multiple sources of liquidity, including single bank and multi-bank portals, together with direct customer orders, into a live dealable Central Limit Order Book. Accessible via an intuitive desktop user interface or through a FIX API for model and program traders, LavaFX provides complete market data and depth of book and allows posting of bids/offers with Lava’s sophisticated, proprietary order instructions.

Users can trade on live streaming prices, and comprehensive full real-time trade information. LavaFX offers superior execution speed as well as the ability to rapidly adjust quantity and price shown in myriad ways. The product suite provides fully anonymous trading via prime broker/sponsoring banks and permits traders and banks to monitor and adjust credit exposure in real time.

“Any participant in the foreign exchange market, from sell-side global banks, multi-national corporations and hedge funds, to program traders and asset managers, can realize the benefits of LavaFX,” says David Ogg, Head of LavaFX. “LavaFX users will get greater pricing transparency, liquidity and aggregation of disparate pools of FX liquidity, along with increased trading efficiency. And Lava’s advanced order types will mean faster execution and the ability to perform larger transactions with minimal market impact.”

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