Lava Trading Selects GAIN for Reference Data Management
AIM Software, a leading provider of reference data management solutions to the financial industry, announced today that New York-based Lava Trading, Inc. has selected AIM Software's data management platform GAIN for the integration of price, static and corporate actions data provided by Telekurs Financial's Valor Data Feed (VDF). Lava is a leading developer of high-performance trading solutions for the financial services industry.
Lava required a data integration platform that supports the direct input of Telekurs VDF equities, corporate actions and options data into its SQL server environment. Lava chose AIM Software's GAIN solution to improve the efficiency of its internal data management processes by creating centralized data workflows.
The scalable GAIN platform features batch file requests and returns exit codes for escalation purposes. Once launched, the software synchronizes the VDF security master file with the incoming delta files. Options, equity and corporate actions data for North American securities are loaded daily.
"With Telekurs VDF as our main data source, it was becoming necessary to implement optimal data centralization strategies and straight-through processes," said John R. Ehlers, Senior Vice President & Head of Business Services, Lava Trading. "AIM's platform efficiently addressed this need."
"We chose GAIN for its simple, intuitive, and yet complex capabilities," added Richard Jacobi, Vice President, Vendor Relationships, Lava Trading. "Moreover, AIM's experience and expertise in integrating VDF data proved to be a key factor in selecting GAIN. With an implementation time of only two weeks, we were able to minimize costs and focus on our core competencies."
"AIM Software is pleased to offer Lava a platform that helps them to efficiently meet their daily needs in reference data management," said Martin Buchberger, Head of Marketing & Sales at AIM Software. "With industry support for our integrated GAIN platform, more and more companies are recognizing the power of a solution that solves today's business challenges, while positioning them on a technology platform for the future. We welcome Lava to our growing number of GAIN clients and are looking forward to support further companies in the US."
ABOUT LAVA TRADING INC.
Headquartered in New York City, with locations in California, Connecticut and the United Kingdom, Lava Trading Inc. is an innovative technology firm that develops 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, 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, independently-operated subsidiary of Citigroup, Inc. (NYSE: C) and member NASD/SIPC. For more information, visit www.lavatrading.com.
ABOUT AIM SOFTWARE
Established in 1998, AIM Software (Advanced Information Management Software, Inc.) is one of the leading providers of reference data management and risk management solutions for financial markets with offices in Switzerland, France, the USA, Hong Kong and Japan and services more than 90 clients worldwide. AIM Software operates on an international scale and services the major financial centres based on its worldwide service and support partner network. Supported by the company's expertise in the areas of reference data management, risk management and financial instrument pricing, the creation of leading edge software in these areas is the cornerstone of AIM Software's business. For more information, visit http://www.aim-sw.com.
For further information please contact:
For Lava Trading
Global Head of Marketing & Communications
Tel: +1 212-519-9261
For AIM Software
PR & Communications
Tel: +43 1 5124652-228
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