Contact: Roman Szymansky, President
Phone: 973.402.4334 x101
roman@microdesignservices.com
www.microdesignservices.com
John Petschauer
Chief Executive Officer
973-402-4334, x107
jp@microdesignservices.com
LAVA TRADING AND MICRO
DESIGN SERVICES PARTNER TO OFFER
MarketLook™ Information
System to Lava Customers
NEW YORK, NY and PARSIPPANY, NJ – September 13,
2004 – 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
TM , a dynamic order-based query.
About
Lava Trading Inc.
Headquartered in New York City, with offices in California,
Connecticut and the United Kingdom, Lava Trading Inc.
is an innovative technology firm that develops unique,
high-performance trading solutions for the financial services
industry. Lava products are created as true ASP solutions
built to withstand maximum volumes in the most volatile
conditions. As a cost effective and neutral provider,
Lava's OTC, Listed and Foreign Exchange solutions are
used by leading broker/dealers, including most of the
top U.S. investment banks, market makers, hedge funds,
and institutional investors. With its patented products
and capital markets expertise, Lava creates value-added
trading solutions that combine speed, intelligence and
reliability. Lava is a wholly owned, independent subsidiary
of Citigroup, Inc. (NYSE: C). For more information, visit
www.lavatrading.com
.
About
Micro Design Services, LLC
Micro Design Services, LLC (MDS) is an industry
leader in the design and development of sophisticated
software products for the financial industry. MDS provides
its customers with outstanding technology, enabling them
to compete in a rapidly changing environment. The company
created the patented MarketLook™ Information System
(MLIS) , and designed and developed many of the order
m anagement and r outing systems used on leading equities,
options, and futures exchanges in the US. These systems
incorporate the latest in wireless radio technology, and
mobile tablet computer products. Founded in 1990, MDS
is headquartered in Parsippany, New Jersey. For more information,
visit www.microdesignservices.com.
