Chrysler "More" Than Happy to Provide Assurances Taxpayers Will Get Money Back
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Citadel down 47% YTD - WSJ
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Nardelli - Cerbeus will provide security for taxpayer money
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GM Down 9.2%, Ford Unch As Bailout Hearings Continue
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S&P Cuts Sears from BB to BB-
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Frank, Kashkari sitdown on Thursday re TARP
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Chairman Frank Says Congress Would Reject 2nd Part of $700 Billion Bailout If Vote Held Today
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GM turned down Chrysler merger because market dropped, merger costs, public funding might have been available
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Nardelli - defending Cerbeus interest in Chrysler
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Chrysler CEO Nardelli - private equity is not a few rich guys taking over a company
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GM Stock Declining To Session Lows During Senate Bailout Hearing
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Canada's New Toyota Plant Will Create 1200 Auto Jobs
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Shumer-Congress Realizes Letting Big 3 Fail 'Catastrophic"
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Chrysler Needs $4 bln To Get Through March 31-CEO Nardelli
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Big 3 All Support Oversight Board In Loan Program
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March 31 Can Be a Deadline for Showing Progress with Bailout Money--Nardelli
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Fed Expected To Reject Auto Bailout-WSJ
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GM head - significant amount of CDS written against GM paper that would be triggered should GM declare bankruptcy
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Nardelli - talking balance sheet concesssions in effort to get "bridge loan"
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Redbook SSI Index - only positive gains - Discount Stores up 0.2% in November
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Lava Announces Major Enhancements to Sell-Side Products

Lava Trading Inc. today announced the completion of significant enhancements to its sell-side products, including the Lava ColorBook(R) system and Lava Trading Floor(R).

The updates to ColorBook, Lava Trading Floor and other products reflect the continual shift toward electronic trading and the need for sophisticated trading solutions.

"We are continuously refining our product offerings to meet the evolving needs of our customers and the marketplace," said Richard Korhammer, CEO, Lava Trading Inc. "The enhancements to these trading platforms are indicative of the rapidly changing nature of the equities marketplace, most notably the proliferation of algorithmic trading and sourcing more liquidity within the NBBO spread."

The patented ColorBook system and Lava Trading Floor comprise the core of Lava's suite of OTC and Listed Trading solutions. ColorBook integrates the full depth of order books from ECNs, exchanges and other liquidity sources into a real-time data feed. Lava Trading Floor, a front-end trader workstation, interacts with the ColorBook system, offering traders a consolidated order book in a unified market data montage.

In addition to fulfilling regulatory requirements, such as Regulation SHO and Regulation NMS, refinements to the sell-side products focused on several key areas. These included refining technology for accessing listed liquidity, improving access to hidden liquidity, enhancing price improvement opportunities, and expanding Lava's algorithmic connectivity. Lava issued several software releases to fine tune smart routing to specifically improve interaction with traditional listed market centres, and to expose more listed routing options for electronic markets.

Specifically for ColorBook, DarkBook(R), and LavaPI(R), the updates focus on further enhancing Lava's network-effect functionality, through the introduction of two new features that will allow a user to trade at the NBBO or better and to seek hidden liquidity. The Spread or Better order feature allows special orders to seek price improvement exclusively for a period of time before reverting to their normal algorithms. An additional feature, Continuous Ping, lets users access hidden liquidity and seek price improvement. Other refinements, most notably the Sweep Duration feature, focus on increasing execution efficiency and minimizing market impact.

The recently completed update of Lava Trading Floor was one of two significant releases of the product in 2005. The enhancements focus primarily on order routing, order management, market-making functionality and regulatory-related improvements. Specifically, Lava expanded Trading Floor's algorithmic offerings and now supports an extensive number of algorithmic routes. Enhancements to order management capabilities include the introduction of Imbalance Windows for various venues, Order View screens for monitoring orders, tickets and executions, and multiple front-end changes to enhance the user's experience, reduce risk and increase efficiency. The introduction of Action Buttons assists with market making by allowing various actions to be applied to a selected order. As a result, users can maintain their quotes and participate in the market with fewer clicks, refining the trader's workflow. click here to return to the top of the page