BB&T Capital Markets Selects Lava Trading's ColorPalette as its New OMS.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Lava Trading Inc., a leading developer of high-performance trading solutions for the financial services industry, today announced that BB&T Capital Markets, a division of Scott & Stringfellow, Inc., a registered broker/dealer subsidiary of BB&T Corporation (NYSE NYSE See: New York Stock Exchange : BBT BBT basal body temperature. BBT, n See technique, Buteyko breathing. ), has selected Lava Trading's ColorPalette(TM) as its new trade order management system for its U.S. based equity trading desk. BB&T Capital Markets selected Lava after an extensive request for proposal process involving several OMS OMS - Opportunity Management System providers. "Lava has a well-earned reputation as a technology leader on Wall Street, and ColorPalette is clearly a superior trade and order management solution," said Chuck Young, SVP SVP S'il Vous Plaît (French: Please) SVP Senior Vice President SVP Schweizerische Volkspartei (Swiss People~s Party) SVP Society of Vertebrate Paleontology SVP Social Venture Partners SVP St Vincent de Paul , Equity Trading, BB&T Capital Markets. "We are confident ColorPalette will prove to be a valuable tool for our trading desk, greatly enhancing connectivity to our buyside clients. Utilizing this state-of-the-art execution platform is part of our commitment to providing added value to our clients." ColorPalette is a sector-based trading and order management solution, designed as a high-throughput, extensive 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 Internalization A decision by a brokerage to fill an order with the firm's own inventory of stock. Notes: When a brokerage receives an order they have numerous choices as to how it should be filled. management, open architecture with standard and strategically-placed APIs, complete trade risk management, and TraderIntelligence(TM), a dynamic order-based query. "We are pleased to partner with BB&T Capital Markets and to provide them with our ColorPalette solution," said Richard Korhammer, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Lava Trading Inc. "We specialize in high performance software that supports the complete trading life cycle and current market dynamics, and are proud to offer our customers unparalleled reliability, innovation and excellence in customer service." In addition to deploying ColorPalette internally to its trading desk, BB&T Capital Markets will use Lava's technology for routing and execution. BB&T Capital Markets is also considering being a participant in Lava's Sponsored Broker Program, which would provide its institutional customers with direct market access. About Lava Trading Inc. Headquartered in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. , 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 OTC See: Over-the-counter. OTC See over-the-counter market (OTC). , Listed and Foreign Exchange solutions are used by leading broker/dealers, including most of the top U.S. investment banks, as well as market makers, hedge funds and institutional investors. With its patented technology 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. |
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