Unlike other basic CEPs, Portware Strategy Server offers full state and position management. Why is this important? Portware maintains a complete view of the lifecycle of a particular trade. Is it a single ticket entry? Is it a “child order,” a small part of a larger order that might itself be part of a larger basket level strategy? Has the order been accepted? If so, is it subject to cancel/replace? Was there already a partial fill that would affect one’s position? How is such a situation handled? All of these issues can affect how an order should be handled. Furthermore, the messaging logic that brokers and other market centers use to convey this execution information is far from consistent. As such, users of basic CEPs would have to spend a tremendous amount of time and energy ensuring that their system can handle and normalize these various messaging protocols. With Portware, however, state and position management is an integrated component of Strategy Server.