W.J. Bonfanti, Inc., a privately held institutional broker-dealer, today announced it has selected Lava Trading's ColorPalette as its trading and order management system.
W.J. Bonfanti provides floor brokerage and trading services from the floor of the NYSE to Broker-Dealers, Registered Investment Advisors, Hedge Funds, Pension Plan Managers and various other financial institutions.
"We reviewed several major OMS providers and were impressed with ColorPalette's leading-edge technology and Lava's industry reputation for speed, intelligence and reliability," said Craig Rothfeld, Chief Operating Officer, W.J. Bonfanti, Inc. "We are committed to enhancing the information, technology and efficiency needs our customers require and are confident that Lava's OMS facilitates this objective."
ColorPalette is a 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, a dynamic order-based query.
After an extensive search of several OMS providers, Lava's technology and superior track record proved best suited to assist W.J. Bonfanti in the creation of a trading platform that will provide their customers with superior execution and advanced trading capabilities in equity securities. In addition, Lava worked closely with W.J. Bonfanti in constructing this global execution platform to provide market access, order management and routing capability across multiple markets while simultaneously limiting access to sensitive customer information and restricting routing capability in strict adherence to NYSE rules and regulations.
"We are pleased to count W.J. Bonfanti among our growing number of ColorPalette clients," said Richard Korhammer, CEO, Lava Trading Inc. "Lava is committed to developing high-performance trading solutions and we are confident that ColorPalette will provide WJB with significant improvement over traditional order management systems."