Quote from bmwstox:
I hear LAVA trader is suing Sonic, is that true?
Sonic Financial Technologies, LLC Addresses Recent
Patent
2003-02-07 16:04 (New York)
Infringement
Accusations
NEW YORK, Feb. 7 /PRNewswire/ -- Apparently,
Lava's recent loss of market
share to Sonic Financial Technologies, LLC ("Sonic") a
subsidiary of Sonic
Trading Management, LLC has driven them to desperation
and instead of
competing on technology, customer service and price,
they have chosen to file
a frivolous and meritless lawsuit.
In addition, Lava has displayed an unprecedented
lack of professionalism
by transmitting the press release directly to many of
our clientele PRIOR to
Sonic even being served.
Although the high degree of attention Lava is
paying to Sonic's progress
is in some ways, a testament to our success, we are
looking forward to
challenging the validity of this patent. Lastly, we
at Sonic appreciate the
overwhelming industry support that we have received.
Sonic Financial Technologies, LLC is a leading
trading technology provider
servicing the equity trading and investment sectors.
Sonic strives to provide
utility like execution service that's both reliable
and cost effective. Sonic
provides direct access to every ECN, SuperMontage and
the NYSE in a completely
agnostic environment. We offer our trading clients
flexible and scalable
technology, which includes customizable order routing
to adapt to the
ever-changing definitions of best execution, as well
as features to handle
block orders with minimal market impact. Sonic's
technology provides a
complement to the valuable research and advisory
services provided by sell
side firms, as well as lower execution costs and
heightened service quality to
institutional buy side firms. Summarily, Sonic allows
for a more feature-
rich, customizable application at the most competitive
pricing levels
available.