Lava Trading Inc., a leading developer of high performance software for large securities trading floors, today announced a major initiative to introduce electronic foreign exchange trading on theLava platform. ¶ The new product suite, LavaFX(TM), will be built upon Lava’s leading, proprietary technology core, to provide a premier offering in global currency trading. This venture is anextension of Lava’s mission to enhance the securities trading process through technology leadership. Lava will leverage its equity business model as it forays into the foreign exchange arena in aneffort to further transform the industry into a more electronic marketplace. ¶ “We are bringing our leadership in equities trading to the foreign exchange market,” said Richard Korhammer, Chairmanand CEO, Lava Trading Inc. “Marrying the world’s largest financial marketplace with Lava’s fast, intelligent and reliable trading solutions will mean a new class of service in foreign exchangetrading.” ¶ Lava has assembled a world-class team, led by David Ogg, Head of LavaFX, to bring Lava’s FX technologies to market. “FX is increasingly becoming an electronic marketplace,” said Ogg.”Foreign exchange is the next logical application of Lava’s technology. With Lava, large FX trading institutions will get more sophisticated, robust and straight-through foreign exchange tradingsolutions than ever before.” ¶ “Parallel to the equities market over the past decade, the foreign exchange marketplace has undergone a macro transformation towards greater efficiency,” said MarkSmith, VP, LavaFX. “We are excited to be at the forefront of the industry trend with our complete set of innovative FX solutions that are designed to meet our customers’ technological demands.” ¶Spearheaded by Ogg and Smith, Lava has put together a top-notch FX management and development team, including the recent hiring of Bob Savage, who serves as Director of Global FX Sales. Savage joinedLava from Microsoft, where he held the position of Director of Business Development, Emerging Business Team. In his 13 years at Microsoft, Savage had a distinguished record serving the company’s topWall Street customers. He was recognized for developing worldwide standards for Microsoft’s software products, consistently delivering account support and corporate targets, and pioneering industryforums for financial services technology leaders. ¶ “Lava is a Microsoft partner and a company that mirrors Microsoft in its commitment to continually develop superior products and services,” saidKenny McBride, Managing Director, Securities & Capital Markets/Financial Services Group, Microsoft Corp. “We are excited about Lava’s expansion into the FX market and look forward to helpingdrive Microsoft economies of scale into the largest global market and incorporating Lava Trading as a key partner in our financial services strategy.”
¶ 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.
