Rockin' All Over the Street
Traders Magazine, August 2004
The founders of Lava Trading are singing a happy tune since their entry went right to the top of the charts. The New York City-based trading vendor - an electronic aggregator of trade information - has become a smash hit. And in more ways than one. Three years have elapsed since the company launched its breakthrough platform, ColorBook, which enables traders to view, simultaneously on a single screen, the order books of all major liquidity pools. Lava quickly became the market's "largest independent provider of trading solutions," according to Citigroup, which recently snapped up the young company. Today, co-founders Richard Korhammer, CEO, and Kamran Rafieyan, CIO, won't say how much Citigroup paid. Still, one of Lava's investors, publicly-traded LaBranche & Co., profited by $24.6 million from its investment.
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