Imported from previous forum
[ original email was from David Basso - david.basso@thomson.com ]
Thomson AutEx clients now have electronic access directly to the U.S. equity markets and the opportunity to utilize Lava’s sophisticated order types straight from their OMS systems. They will receive intelligent order routing and direct connectivity to all major pools of liquidity, including Nasdaq, listed exchanges, ECNs and ATSs. The interface supports a variety of workflows by providing traders with the flexibility to initiate an order directly from their OMS systems.
"This is the first direct access opportunity made available to AutEx users, and will be revolutionary for self-directed and firm trading on the system," said Richard Korhammer, chairman and chief executive officer, Lava Trading Inc. "In offering complete access to all major liquidity sources, Lava is an ideal complement to the AutEx network," said Korhammer.
“We are pleased to have Lava join the AutEx network,” said Ken Wagner, chief operating officer, Global Transaction Services, Thomson Financial. “Our primary goal is to offer best of breed solutions to enable AutEx customers to make better trading decisions. The addition of Lava’s exemplary technology solution will further enhance the quality and breadth of our offering,” said Wagner.
Thomson customers can access the market through Lava’s Sponsoring Broker Program. “We are proud to sponsor Lava’s new relationship with Thomson AutEx,” said Michael Lynch, managing director, U.S. Equities, Merrill Lynch. “This is an advancement for our equity clients who will now have access to an integrated trading solution from two of the leading technology providers on the Street,” said Lynch.
The AutEx network handles nearly one million indications daily, enabling more than 300 global brokers to advertise inventory to more than 500 institutions. Access to the network is via an efficient single connection that supports all FIX messaging, including IOIs, ATs, order routing and allocations, to the global trading community.
About Lava Trading Inc.
Lava Trading Inc. is an innovative technology firm that develops unique, high-performance trading solutions for large securities trading floors. Lava’s 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 supplies its OTC and Listed solutions to market makers and broker/dealers, including most of the top 20 U.S. investment banks. Via sponsoring brokers, Lava’s leading technology is also available to 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. For more information, visit www.lavatrading.com.
About Thomson Financial
Thomson Financial is a US$1.6 billion provider of information and technology solutions to the worldwide financial community. Through the widest range of products and services in the industry, Thomson Financial helps clients in more than 70 countries make better decisions, be more productive and achieve superior results. Thomson Financial is part of The Thomson Corporation (www.thomson.com), a leading provider of value-added information, software tools and applications to more than 20 million users in the fields of law, tax, accounting, financial services, higher education, reference information, corporate training and assessment, scientific research and healthcare. With revenues from continuing operations of US$7.5 billion, The Thomson Corporation lists its common shares on the New York and Toronto stock exchanges (NYSE: TOC; TSX: TOC).