Griswold implements LavaTrading's Color Palette OMS

Source: Griswold Company

The Griswold Company, Inc., an independent agency brokerage firm on the NYSE, which also offers an agency OTC desk, today announced the successful adoption of Lava Trading's Color Palette as its trading and order management system.

Lava is a leading developer of high-performance trading solutions for the financial services industry.

"We are very pleased with the results we have seen since our selection of ColorPalette," said Robert H. McCooey, Jr., President and CEO, The Griswold Company. "We believe ColorPalette is the superior choice among OMS systems and offers all the features we value, including SmartRouter technology, full depth-of-book, a customizable Graphic User Interface and longer on-line data retention. In today's trading, monitoring and compliance-driven environment, Lava offers the best OMS at the most reasonable cost."

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, a dynamic order-based query.

The Griswold Company chose Lava after a lengthy evaluation of several OMS providers. ColorPalette has been widely deployed on the company's OTC desk, and will also be used on their NYSE floor operation.

"We are very pleased to see The Griswold Company's success with ColorPalette," said Richard Korhammer, CEO, Lava Trading Inc. "Griswold is one of many leading financial firms to join our rapidly growing ColorPalette client base, and we are confident that the system will provide the company with a significant advantage over traditional order management systems in this evolving marketplace."

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