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BOARD OF DIRECTORS

Ary Khatchikian

Founder and Co-Chairman

Throughout his 20-year career in financial technology, Ary Khatchikian has been at the forefront of the electronic trading movement. In 1995, Ary founded Indigo Solutions, where he developed and marketed NeuronXT, an order management system (OMS) targeting small and mid-size investment firms. In January 2000, after founding Portware with Eric Goldberg, Ary transformed NeuronXT into Portware Enterprise, the leading multi-asset trade management system on the market today which has won numerous awards worldwide Ary has become a leading voice in the electronic and algorithmic trading community and serves as an advisor to several start-up and existing technology companies.

Eric Goldberg

Founder and Co-Chairman

Whether running a trading desk or launching a financial technology firm, Eric Goldberg has been an active participant on the front lines of electronic trading for over 25 years. Throughout his career, Eric has held a variety of senior level positions at buy-side and sell-side firms, running trading desks specializing in index, portfolio and derivatives trading. Eric also holds significant expertise in system development, architecture and functionality. In January 2000, Eric left trading to form Portware with Ary Khatchikian. Since its inception, Portware has established itself as the leading multi-asset trade management solution in the industry. Eric is an active angel investor in the financial technology sector.

ALFRED ESKANDAR

Chief Executive Officer, Portware

Alfred Eskandar is a proven business leader and technology entrepreneur who has dedicated almost 20 years to introducing new levels of innovation and customer value to the global capital markets community. As CEO of Portware, Eskandar has passionately worked to fundamentally change the trading technology landscape. Appointed CEO in 2012, Eskandar recognized the pervasive need for decision support tools that would help advance a collaborative environment between portfolio managers and traders. Months later he spearheaded the acquisition of the technology assets of Aritas group to create Portware Alpha Pro. In 2013, Eskandar was named to the prestigious Institutional Investor Trading Tech 40, the global ranking of the most prominent innovators and managers in the capital markets, selected based on their accomplishments and contributions at both the company and industry levels. Prior to Portware, Eskandar ran the US trading business for Liquidnet, where he was an executive team member and founding employee. Throughout his tenure he held multiple leadership roles including global head of strategy, directing all strategic initiatives, alliances and investments. He also led the acquisition of Miletus Trading, LLC, a leading quantitative and program trading broker-dealer, serving as president and chief executive officer during its integration.

Scott DePetris

President and Chief Operating Officer, Portware

Scott DePetris is a founding member of Portware, LLC and a proven serial entrepreneur. At Portware, DePetris drives the day-to-day business and works closely with the global client base to ensure Portware's expanding suite of solutions and services continuously meet clients' evolving requirements. Prior to Portware, DePetris was the co-founder and senior vice president of ExchangeLab, Inc, an intellectual property development company for financial services technologies. DePetris helped to incubate a number of successful FinTech start-ups and helped orchestrate the sale of ExchangeLab's primary asset, Financial Auction Network, to a consortium of investment banks, which was later launched under Nasdaq as Primex. Earlier in his career, he specialized in equity derivatives at The Goldman Sachs Group, and previously served on the board of directors at Dekania Acquisition Corporation (Amex: DEK.U). DePetris is a board member of the prestigious Young Presidents Organization (YPO) and is an active philanthropist, serving as Chairman of the board of directors at LSA Family Health Service.

Jim Brown

LONG RIDGE EQUITY PARTNERS

Jim co-founded Long Ridge in 2007 and serves as Managing Partner. Prior to founding Long Ridge, Jim was a Senior Partner at TH Lee Putnam Ventures, a $1.1B growth capital firm, where he led the firm’s financial services investment efforts. Prior to joining THLPV, Jim served as a Senior Vice President of GE Equity where he led investments in financial services, technology, consumer and media companies. Prior to joining GE Equity, Jim worked at Lehman Brothers as a Vice President and at Bain & Company as a Consultant.

Jim received a B.S. from New York University and an M.B.A. with Honors from the Wharton Business School of the University of Pennsylvania.

WHO WE ARE

We are a company of problem solvers. We are driven by taking on challenges and finding solutions others can't imagine. Every day, we wake up with one goal in mind: making the industry’s best automated trading systems even better.

Our clients are global investment managers, hedge funds and broker dealers, firms who understand the complexities of today’s markets and want a trusted partner that has been at the forefront of electronic trading for more than a decade.

Alfred Eskandar

Chief Executive Officer, Portware

Alfred Eskandar is a proven business leader and technology entrepreneur who has dedicated almost 20 years to introducing new levels of innovation and customer value to the global capital markets community. As CEO of Portware, Eskandar has passionately worked to fundamentally change the trading technology landscape. Appointed CEO in 2012, Eskandar recognized the pervasive need for decision support tools that would help advance a collaborative environment between portfolio managers and traders. Months later he spearheaded the acquisition of the technology assets of Aritas group to create Portware Alpha Pro. In 2013, Eskandar was named to the prestigious Institutional Investor Trading Tech 40, the global ranking of the most prominent innovators and managers in the capital markets, selected based on their accomplishments and contributions at both the company and industry levels. Prior to Portware, Eskandar ran the US trading business for Liquidnet, where he was an executive team member and founding employee. Throughout his tenure he held multiple leadership roles including global head of strategy, directing all strategic initiatives, alliances and investments. He also led the acquisition of Miletus Trading, LLC, a leading quantitative and program trading broker-dealer, serving as president and chief executive officer during its integration.

Scott DePetris

President and Chief Operating Officer, Portware

Scott DePetris is a founding member of Portware, LLC and a proven serial entrepreneur. At Portware, DePetris drives the day-to-day business and works closely with the global client base to ensure Portware's expanding suite of solutions and services continuously meet clients' evolving requirements. Prior to Portware, DePetris was the co-founder and senior vice president of ExchangeLab, Inc, an intellectual property development company for financial services technologies. DePetris helped to incubate a number of successful FinTech start-ups and helped orchestrate the sale of ExchangeLab's primary asset, Financial Auction Network, to a consortium of investment banks, which was later launched under Nasdaq as Primex. Earlier in his career, he specialized in equity derivatives at The Goldman Sachs Group, and previously served on the board of directors at Dekania Acquisition Corporation (Amex: DEK.U). DePetris is a board member of the prestigious Young Presidents Organization (YPO) and is an active philanthropist, serving as Chairman of the board of directors at LSA Family Health Service.

Sarath Chennareddy,Ph.D.

Global Head of Engineering, Portware

Sarath Chennareddy as Global Head of Engineering at Portware is responsible for all software design and development, quality assurance and delivery of products and solutions to clients. Sarath has more than 20 years of experience in design, development and implementation of a wide range of technology solutions for the investment industry. Sarath is an expert in building customizable trading systems that support the creation and execution of algorithmic trading strategies for global equities, derivatives and foreign exchange. Sarath started with Portware in 2000 and has been intimately involved in nearly all facets of the build-out of its products. Prior to joining Portware, Sarath was at IIT Bombay India, where he received his Ph.D. in engineering.

CAREERS

Senior software developer

Portware LLC seeks Senior Software Developers for a position in the New York City Area to create software for automated portfolio and algorithmic trading and work with JAVA, SWING, JMS, XML, and JSP. To apply, send resumes to Naleenee Hansraj, 233 Broadway, 24th floor, New York, NY 10279

Senior Software Engineer

Implement the given requirements and deliver high quality code with in the agreed timelines

Quality Assurance Engineer

As a QA Engineer, candidate will be responsible for design /execute manual/automated test cases, analyze and report results for various tests performed

Database Developer

Position: Build Release Engineer Number of openings: 1 Location: Hyderabad Purpose: Be part of a dynamic Database team working with Oracle and moving into Big Data technology. Share responsibility in development of all Database related technologies that make up the Portware Trade Management platform.

BACK

Position: Senior software developer/lead - US

Number of openings: 1 Location: New York, NY

Purpose:

The leading global algorithmic trading and Execution Management System (EMS) provider seeks Sr. Software developers/leads with financial industry specific experience. Our product supports clients both on the buy-side and sell-side along within Equity, FX, Futures and Options & Fixed Income asset classes. We are located in New York City. Compensation is commensurate with experience.

Key Responsibilities:

  • Provide technical direction for the development, design and systems integration from specification phase through implementation on multiple development projects.
  • Recognizing potential reuse in the organization or in the application by:
    • Observing and understanding the broader system environment
    • Creating the component design
    • Having knowledge of other applications in the organization
  • Subdivide a complex application, during the design phase, into smaller, more manageable pieces
  • Grasp the functions of each component within the application
  • Understand the interactions and dependencies among components
  • Communicate these concepts to developers

Requirements:

  • Minimum of 6 years of programming experience in the finance or electronic trading space.
  • Firm understanding of Java 1.6 - 1.8 core APIs, including collections, multi-threading, XML, SWING and middleware technologies.
  • Strong knowledge of financial equity or derivatives products, market data feeds, trade lifecycle and post-trade processing, portfolio management or Order Management Systems.
  • Proven hands-on design and implementation experience in high-volume, high-performance real-time trading systems.
  • Closely work with sales, product management, development, quality assurance and support teams
  • Strong written and verbal communication skills are a must.

Education:

Bachelors or Masters Degree in Computer Science or other relevant engineering field.


SUBMIT RESUME

BACK
BACK

Senior Software Engineer

Implement the given requirements and deliver high quality code with in the agreed timelines

Key (Functional) Responsibilities / Deliverables:

  • Deliver high quality , re-usable and maintainable code, perform Unit /Integration Testing of assigned tasks with in the agreed timelines
  • Develop & enhance core and client systems functionality, including algorithms, plug-in modules, API and GUI
  • Participate in Requirement gathering/clarification sessions
  • Perform Code Reviews and ensure best practices are followed
  • Trouble shooting (incl. profiling) and resolving critical issues in a timely manner
  • Demos and presentations to internal stake holders
  • Collaborate with internal teams (e.g.: Quality Assurance) to ensure smooth product delivery
  • Provide L2/L3 support as and when required

What makes it interesting!

  • Creating innovative solutions for complex problems
  • Gain exposure on Electronic Trading in Capital Markets
  • Exposure to intelligent trading platform/algorithms
  • Freedom to come up with own ideas and productize them
  • Working in agile teams

Education/Qualifications:

B.E / B.Tech from reputed colleges

Experience/Skill:

4-7 years (core Java )

Mandatory Skills:

  • Core Java
  • Strong analytical, logical and problem-solving skills
  • SQL

Behavioral Competencies:

  • Fast learner, Good communicator , Self-motivated
  • Ability to multitask, prioritize & work under pressure with tight deadlines
  • Take initiative and responsibility for end to end delivery

Preferable Skills:

  • Swing
  • OOAD
  • J2EE
  • Experience in Financial services and FIX protocol

To Apply:

Please submit your resume via e-mail to careers@portware.com quoting the above job title.


SUBMIT RESUME

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BACK

Position: Quality Assurance Engineer

Number of openings: 1 Location: Hyderabad

Purpose:

As a QA Engineer, candidate will be responsible for design /execute manual/automated test cases, analyze and report results for various tests performed

Key Responsibilities:

  • Design and develop Manual/Automated test cases that meet the Best practices and the industry standards for easy maintenance and extensibility
  • Responsible for setting up Test Environments
  • Review requirements with stakeholders for consistency and accuracy
  • Issue reporting and tracking
  • Analyze the logs and debug the issues
  • Interfacing with development teams
  • Individual contributor as well as a team player with ability to build strong partner confidence

What makes it interesting?

Work with cross cultural Teams

Education/Qualifications:

B.E / B.Tech [Tier 1 colleges]

Experience:

2-4 years of experience in Software Testing preferably in java based Enterprise Applications

Mandatory Skills:

  • Understanding of testing process and ability to setup test environment
  • Experience in creating / executing functional test cases.
  • Analyzing discrepancies to understand if the issue is with the system or with the test itself
  • Experience in Databases: SQL-Server, Oracle and OS like Linux, Solaris
  • Analytical and problem-solving abilities, with quick adaptation to new technologies, methodologies, and systems.
  • Excellent communication and documentation skills
  • Knowledge on any of the Automation tools

Good to have:

  • Knowledge on Capital Markets domain and FIX Protocol
  • Working in Agile Teams is a plus
  • Exposure to any object oriented or scripting language

SUBMIT RESUME

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BACK

Position: Database Developer

Number of openings: 1 Location: Hyderabad

Purpose:

Be part of a dynamic Database team working with Oracle and moving into Big Data technology. Share responsibility in development of all Database related technologies that make up the Portware Trade Management platform.

Key Responsibilities:

  • Develop applications as per technical design documents.
  • Make quick decisions while troubleshooting issues that arise as project progresses.
  • Provide detailed knowledge to troubleshoot issues related to Portware Database development.
  • Keep up to date with the latest Database technology

Functional responsibilities:

  • Core domain knowledge
  • Strong knowledge of core Oracle database development and design
  • Advanced PL/SQL
  • Strong Knowledge of Security Master and Portware databases.
  • Shell scripting, ETL and Data Warehousing experience
  • Comfortable with APEX, SQL Loader.

What makes it interesting?

  • Working in the one of the most interesting financial domains, Automated trading platform
  • Ability to add value to development instead of just following the instructions
  • Direct input to improve the Portware product and company
  • Opportunity to get involved in Big Data technology.

Education/Qualifications:

B.Tech/M.Tech/M.C.A Tier 1 College

Experience:

2-4 years core Oracle Database development

Mandatory Skills:

  • Advanced PL/SQL and Database design
  • Exposure to Apex
  • Strong documentation skills
  • Strong Communication skills
  • Ability to work alone
  • Challenge status quo and be proactive in looking for improvements

Preferable Skills:

  • Experience in financial services a plus, but other relevant industries will be considered based on project depth.

Good to have:

  • Java
  • Perl
  • Java scripting
  • NoSQL and Big Data technology such as Apache Cassandra and Apache Spark.
  • Various server OS flavours (Windows, Linux, Solaris etc)

SUBMIT RESUME

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CONTACT US
New York – HQ
LONDON
INDIA
HONG KONG
Location Details

99 Park Ave, 16th Floor
New York, NY 10016

Phone: +1.212.425.5233
Fax: +1.212.571.4634

1 Snowden St.
London EC2A 2DQ

Phone: +44 (0) 203.002.6410
Fax: +44 (0) 207.198.9561

Portware India Pvt Ltd
404, Building #14
Mindspace, Hitech City
Hyderabad, Telangana 500081
India
Phone: +91.40307.00000

2808, 28/F The Center
99 Queen's Road Central
Hong Kong

Phone: +852.3693.1333 Fax: +852.3010.3824

Contact our Global Sales team
Welcome to portware
Embrace the endless complexity of the trading universe and you're free to achieve what was unthinkable only moments ago. Those are words we keep in mind when designing every solution. Like Portware Enterprise, the first and only ultra-fast, totally open, thinking Execution Management System (EMS) for Equities, FX, Futures, Options and Fixed Income.

Its dynamic, not static―tapping into past, present and future market events. Automates the selection of optimal strategies in real-time. Learns to think like you. Lets you trade the graphs. And transforms complicated processes into beautiful workflows. Very simply, it's engineered for your most complex trading challenges.
Trade at the intersection of human and artificial intelligence.
Millions of dollars at risk. Numerous orders on the blotter. Countless market events. Hundreds of strategies to choose from. One decision. How will it work out? It can boggle the mind, so we built Alpha Pro. It's the only predictive analytic tool that selects the best algo for current market conditions and applies it to your trade in real-time. It's not a magic black box; it's transparent artificial intelligence. You know what goes in, what happens inside and what comes out. It's decision support that learns from you. It frees you to make better, faster decisions and improves performance. And you can use Alpha Pro on its' own for commission and performance optimization or run it seamlessly in the award winning EMS―Portware Enterprise.
Break through the boundaries of FX.
That's how we approached the design of the award winning Portware FX. It gives you a real-time view of the entire FX marketplace. A fully customizable front end trading environment. Next generation algorithmic strategies and powerful analytics with the freedom to access third party algos. It's the solution that aggregates liquidity from all global providers, including banks, ECNs and interdealer platforms. And like everything we create, it's based on proven innovation and designed to streamline your workflows.
The fastEST solutions to complex problems.
Industry-leading technology and innovation should always be within reach. Portware Strategy Server is an event-based algorithmic engine designed for high-volume, low latency automated order management and trade execution. And unlike other engines, it combines hyper-fast complex event processing with complete trading-specific functionality.
  • Body:

    RESEARCH

    Effect of Volatility Fluctuation on Optimal Execution Schedules

    We present a framework for optimal execution in presence of stochastic volatility. The theoretical model utilizes the fair pricing theory of market impact and the Heston model for volatility.

    We use computer optimization to solve common trading problems, including optimal execution schedules on high volatility near the open or on the arrival of signals with short-term alpha decay.
    Giving Institutional Portfolio Managers the Upper Hand

    Two data sources give the buyside desk a natural advantage over their non-institutional counterparties. First, their algorithmic execution data reveals predictability in order flow; this information can be monetized through predictive algorithm control. Second, it is possible to determine optimal execution schedules given a historical dataset of trade origination events, a technique we have called “alpha profiling.”
  • Body:
    ENTERPRISE
    Body:

    Portware Enterprise is a fully customizable execution management system designed to act as a central platform for the creation and execution of algorithmic trading strategies for global equities, futures, options and FX. Portware is not affiliated with any broker, giving our clients unconflicted access to the widest range of liquidity providers, broker algorithmic suites and trading destinations worldwide.

    Portware Enterprise is currently used by more than 100 firms worldwide, including many of the world’s largest and most sophisticated trading firms. On the buy side, Portware is used by leading institutional investment firms, alternative asset managers and quantitative hedge funds. On the sell-side, Portware is used by program, principal and agency traders to automate all aspects of their client order flow.

    FEATURES
    Flexible Trade Architecture
    Portware Enterprise’s open API allows for seamless integration with any third party or proprietary trade workflow applications, including OMS’s, tick databases, risk and analytics applications, trade reporting systems and TCA services.
    Enterprise Wide Administration
    Portware can be deployed, monitored and modified from a single, central location. Users can deploy custom rules, libraries and user interfaces, as well as monitor system health and statistics of Portware installations across the enterprise.
    Flexible Deployment Options
    Clients can install Portware Enterprise onsite, or leverage Portware’s global cloud solution for streamlined deployment and ease of access to all global liquidity providers. Unlike legacy ASP trading systems, Portware’s cloud-based Enterprise offering delivers the same levels of performance, integration and customization as locally installed Enterprise solutions.
    Comprehensive Market Data Support
    Portware offers pre-certified adapters for all commercial market data providers, including Reuters, Bloomberg, Activ, IDC, Wombat, etc. The system can also integrate with any custom or proprietary feed.
    Multi-user Support With Permissioning
    Portware supports both single and multi-user configurations for basket, order and position sharing.
    STRATEGY SERVER
    Body:

    Portware Strategy Server is a powerful algorithmic engine designed specifically for high volume, high-frequency automated order management. Strategy Server allows users to create complex trading strategies and algorithms in a dedicated, highly secure trading environment. It can be used independently as a stand-alone, black box trading solution, or in tandem with Portware Enterprise to address specific algorithmic development and trading requirements. In either case, Strategy Server can process a massive number of orders and their associated message traffic, routing orders to any global market destination via integrated, pre-certified FIX connections.

    FEATURES
    Complex Event Processing (CEP)
    There are numerous event processing engines on the market today that promise real-time data analysis in one form or another. Yet while the results of various messages-per-second “bake-off” analyses make for interesting academic discussion, none of these engines offer the full trading solution that Strategy Server delivers. Indeed, beyond basic event processing, these engines offer little else. Portware Strategy Server, on the other hand, combines hyper-fast CEP with the complete set of trading-specific functionality.
    Order Routing
    Portware Strategy Server provides out of the box, pre-certified connections to over 500 global market destinations, including brokers, algorithmic strategies, ATS’s, exchanges, and ECNs. Whether you trade Equities, Foreign Exchange, Futures or Options, Strategy Server provides a comprehensive, fully integrated solution for all your routing needs.
    Analysis and Execution
    Strategy Server’s flexible, open architecture allows a firm to easily deploy, run and back test custom algorithmic strategies. Users can take advantage of Strategy Server’s API to implement advanced, proprietary algorithms for multiple assets, either independently or as part of complex multi-asset trading strategies. And because Strategy Server operates as a separate trading environment, users can update algorithms in Strategy Server on the fly without compromising the stability of their overall trading system. When used in conjunction with client workstations such as those deployed as part of a Portware Enterprise installation, users can route orders from their desktops directly to proprietary and third-party algorithms deployed in Strategy Server.
    State/Position Management
    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.
    Market Data
    Strategy Server can be easily integrated with any market data feed. Unlike the raft of processing engines on the market, Portware Strategy Server comes equipped with pre-built, robust market data handlers. In addition, the product supports full load balancing of multiple feeds as well as development, customization and normalization of propriety feeds which can be combined with 3rd-party feeds and segmented per asset-class or any other parameter. Strategy Server users can also employ Portware’s back-testing suite, which can play back years of historical market data, facilitating an algorithmic development process in which users can move efficiently from testing to production. Additionally, a customizable simulator allows clients to develop their own proprietary test cases.
    PORTWARE FX
    Body:

    Portware FX provides traders with a real-time view of the entire FX marketplace through a single, fully customizable front end trading environment. This is coupled with next generation algorithmic strategies, powerful analytics and end-to-end workflow integration, providing users with a compelling and complete FX trading solution.

    Portware FX aggregates liquidity from all dealer banks and ECNs and presents it in a single depth-of-book for both point-and-click and algorithmic execution. Portware’s disclosed pricing model enables clients to leverage their credit and relationships for optimal pricing and size when trading with brokers, while our comprehensive ECN aggregation provides clients with streamlined access to all alternative trading venues. With support for streaming executions, RFQ’s, integrated broker algorithms and an embedded suite of Portware strategies that can be customized to address users’ specific trading objectives, Portware FX gives clients unparalleled control over their order flow.

    Portware FX has been deployed by leading hedge funds, CTA’s, traditional asset managers, pension funds and brokers dealers globally. All Portware FX clients benefit from the system’s flexible user interface, open architecture and ease of integration into existing trade workflows.

    FEATURES
    Algorithmic Trading
    Portware FX offers traders an embedded suite of customizable execution strategies that can help firms increase trading efficiencies, automate workflows and improve execution quality, all while maintaining relationships with their global liquidity providers. In addition, Portware provides integrated access to a wide range of algorithmic strategies from third party providers, including all leading FX dealer banks. Firms wishing to run their own trading strategies can easily develop, back test and deploy proprietary algorithms directly in Portware FX, or use Strategy Server in conjunction with our liquidity aggregation engine for ultra-low latency algorithmic order execution.
    TCA
    All Portware FX clients have access to FX Liquidity Monitor (FXLM), Portware’s TCA and post-trade reporting toolset that gives traders greater visibility into their trading performance. Users can benchmark their performance against an array of data points and compare execution quality and pricing across all liquidity providers, either in real-time or via comprehensive month end reporting.
    Support for all Order Types and Trading Strategies
    Portware FX supports spot, forwards, swaps, and NDF’s. Clients can execute versus streaming prices, leverage request for quote (RFQ) and request for stream (RFS) order types, use one of Portware’s embedded algorithmic strategies, or engage an algorithm from one of our broker partners.
    End-To-End Systems Integration
    Portware FX integrates seamlessly with all order management systems (OMS’s), as well as all downstream trade reporting and reconciliation systems such as Traiana and Logiscope. The system supports all internal compliance rules and restricted broker lists, bringing at-trade risk management to the front office.
    Flexible Deployment Options
    Clients can deploy Portware on site or leverage Portware’s global cloud solution for reduced operational overhead, streamlined deployment and ease of access to all liquidity providers.
    ALPHA PRO
    Body:

    In today’s competitive global trading environment, asset managers need to maximize execution performance and increase trading efficiencies, all while maintaining relationships with brokers and optimizing commission budgets.

    Alpha Pro is the first – and only – algorithmic optimization solution that uses predictive analytics to automatically select and implement the optimal execution strategy. By dynamically switching between algorithms and adjusting to changing market conditions in real time, Alpha Pro maximizes alpha capture while minimizing impact costs, adverse selection, information leakage and the impact of high frequency trading.

    FEATURES
    Superior Execution Quality
    Alpha Pro’s patented predictive analytics and algorithmic optimization technology acts as a dynamic feedback loop for traders. The system automates the entire process of analyzing orders, monitoring market conditions, selecting the appropriate algorithmic strategy and implementing the optimal execution schedule – all in real time. The result is consistent improvements in execution quality across all order types. And by dynamically switching between algorithms, Alpha Pro virtually eliminates information leakage about large orders, protecting firms from the impact of high frequency trading (HFT).
    Powerful Commission Optimization
    As the leading provider of broker neutral trade automation solutions, Portware works with all industry participants to create solutions that enable and transform the way institutions analyze, communicate and execute investment ideas. Portware is making Alpha Pro available to all firms in partnership with the entire brokerage community. This innovative sponsored execution model will allow institutions to achieve superior execution performance while directing flow to any of their broker partners. Brokers will receive full credit for volumes and commissions, preserving and enhancing client relationships.
    End-To-End Workflow Automation
    Alpha Pro automates the entire trade lifecycle, allowing you to scale your trading operations and reduce workflow inefficiencies. Your brokers, your workflow. Automated.
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    PORTWARE NEWS

    News: Portware Joins Foreign Exchange Professionals Association (FXPA) to Engage in Critical FX Market Issues
    Body:

    Portware Joins Foreign Exchange Professionals Association (FXPA) to Engage in Critical FX Market Issues
    Multi-faceted group represents the collective interests of FX market participants

    NEW YORK and LONDON, May 31, 2017 – Portware, a FactSet Company and a leading global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced it has joined the Foreign Exchange Professionals Association (FXPA). Launched in 2014, the FXPA is designed to engage key regulators and policymakers to advance a sound, liquid, transparent, and competitive global currency market.

    As a Supporting Member, Portware will help drive the global FX regulatory reform conversation, construct execution frameworks for FX, and collaborate with other thought leaders on key FX issues and market challenges.

    “We are pleased to join the FXPA and support its commitment to improving FX industry standards and practices through education, research and advocacy across the globe,” said Christopher Matsko, Head of FX Trading Services, Portware. “Membership in the FXPA gives us a unique opportunity to contribute Portware’s insights and perspectives to the global regulatory reform dialogue and help represent the best interests of the FX community worldwide.”

    Portware has been at the forefront of FX innovation for over a decade. Portware FX offers a real-time, aggregated view of the entire foreign exchange marketplace through a single, fully customizable, broker-neutral front-end. Leading asset managers and hedge funds worldwide have deployed Portware FX to help meet their most complex trading requirements. Portware FX aggregates liquidity from global providers, including banks, ECNs, and interdealer platforms, equipping FX traders worldwide with a full range of strategies and order routing destination options.

    ###

    About Portware:
    Portware, a FactSet Company is a leading global provider of multi-asset trade automation solutions powered by artificial intelligence. Portware’s thinking execution management system (EMS) helps automate and streamline the buy side’s most complex trading workflows. Spanning more than three dozen offices in 15 countries together with FactSet, Portware works together with its clients to create highly customizable, automated solutions, design bespoke workflows, increase operational efficiencies, and more closely align portfolio strategy with trade execution worldwide. Portware’s award-winning trade automation solutions are redefining the electronic trading landscape by empowering traders and portfolio managers to maximize liquidity access, minimize information leakage, and enhance trade execution quality consistently to outperform in today’s complex global markets.

    About FactSet
    FactSet (NYSE:FDS | NASDAQ:FDS) delivers superior analytics, service, content, and technology to help more than 85,000 users see and seize opportunity sooner. We are committed to giving investment professionals the edge to outperform, with fresh perspectives, informed insights, and the industry-leading support of our dedicated specialists. We're proud to have been recognized with multiple awards for our analytical and data-driven solutions and repeatedly ranked as one of Fortune's 100 Best Companies to Work For and a Best Workplace in the United Kingdom and France. Subscribe to our thought leadership blog to get fresh insight delivered daily at insight.factset.com. Learn more at www.factset.com and follow on Twitter: www.twitter.com/factset.

    FactSet
    Media Relations Contact:
    Amy Bowman
    203.810.2144
    Abowman@factset.com

    Investor Relations Contact:
    Rima Hyder
    857.265.7523
    Rima.hyder@factset.com

    News: Portware Alpha Pro Sets the Benchmark for Intelligent Workflows that Drive Measurable Performance Improvements and Lower TCO
    Body:

    PORTWARE ALPHA PRO SETS THE BENCHMARK FOR INTELLIGENT WORKFLOWS THAT DRIVE MEASURABLE PERFORMANCE IMPROVEMENTS AND LOWER TCO

    Over $168 billion notional traded on the platform with measurable alpha preservation

    NEW YORK and LONDON— May 9th, 2017—Portware, a FactSet Company and a leading global provider of multi-asset trade automation solutions powered by artificial intelligence (AI), today announced continuous momentum for its Alpha Pro AI-enabled algorithmic trading management solution with over $168 billion notional traded on its platform. In an environment where active managers face increased pressure from passive trading strategies, Alpha Pro has proven to power the intelligent workflows required to enable traders to respond with improved performance while simultaneously lowering the total cost of trade, and of the tools to trade.

    Alpha Pro uses predictive analytics to evaluate historical and real-time order flow, helping traders implement the execution schedules that best capture price opportunities and short-term alpha while minimizing market impact. With Alpha Pro, every order that arrives on a trader’s blotter can be analyzed, vetted, and paired with a recommended trading strategy, trade horizon, and recommended algo type selection. Its broker-neutral, data-driven analytics and insights give clients the freedom to use it for analysis alone, or analysis plus execution; when used for both analysis and execution, Alpha Pro optimizes trading schedules to deliver savings relative to proprietary and standard cost benchmarks, allowing traders to manage regulatory and administrative obligations while simultaneously preserving alpha.

    Trades totaling more than $168 billion in notional value were analyzed and routed through Alpha Pro between March 2009 and March 2017, resulting in the following performance gains versus industry-standard and proprietary benchmarks:

    • Alpha Pro delivered savings across all sectors, especially in small and micro cap stocks where it outperformed by a staggering 63 and 133 basis points (bps) respectively.
    • Alpha Pro outperformed on large sized trades where order size was greater than 4% of average daily volume, and was highly effective for trades across liquidity profiles, especially less liquid names.
    • Alpha Pro helped traders implement the execution schedules that best capture price opportunities and short-term alpha across 12 sectors, with greater savings for diversified, fund, energy and industrial sectors.
    • Overall for orders executed with Alpha Pro, strategies outperformed proprietary and standard cost benchmarks by up to 18 bps. This is particularly important for traders today, who are inundated with large data volumes and must quickly analyze market conditions and execute best trading strategies while ensuring compliance.

    “The bionic trading desk is here, and traders need the right support to capitalize on this new reality. In a market that moves in milliseconds, automating manual order steps lets a human trader do what they would if they had unlimited hours to focus on each individual order,” said Alfred Eskandar, CEO of Portware. “Portware’s AI technology supports, rather than replaces, traders, saving them countless hours that do not contribute to performance, and empowering them to focus their energy in areas that do. Our ability to customize and rationalize existing resources lets our clients’ extend the life of their existing technologies to help bring down the total cost of ownership of their trading infrastructure with every trade, for every customer.”

    Portware helps traders automate multiple manual steps, integrating predictive analytics and AI-driven intelligent workflows built on top of data warehouses with advanced reporting capabilities. Portware tools use hundreds of points of information—including real-time market data feeds, proprietary data, web crawling, social media listening, and more—freeing traders to focus on critical analysis and more difficult orders.

    ###

    About Portware
    Portware, a FactSet Company is a leading global provider of multi-asset trade automation solutions powered by artificial intelligence. Portware’s thinking execution management system (EMS) helps automate and streamline the buy side’s most complex trading workflows. Spanning more than three dozen offices in 15 countries together with FactSet, Portware works together with its clients to create highly customizable, automated solutions, design bespoke workflows, increase operational efficiencies, and more closely align portfolio strategy with trade execution worldwide. Portware’s award-winning trade automation solutions are redefining the electronic trading landscape by empowering traders and portfolio managers to maximize liquidity access, minimize information leakage, and enhance trade execution quality consistently to outperform in today’s complex global markets.

    About FactSet
    FactSet (NYSE:FDS | NASDAQ:FDS) delivers superior analytics, service, content, and technology to help more than 85,000 users see and seize opportunity sooner. We are committed to giving investment professionals the edge to outperform, with fresh perspectives, informed insights, and the industry-leading support of our dedicated specialists. We're proud to have been recognized with multiple awards for our analytical and data-driven solutions and repeatedly ranked as one of Fortune's 100 Best Companies to Work For and a Best Workplace in the United Kingdom and France. Subscribe to our thought leadership blog to get fresh insight delivered daily at insight.factset.com. Learn more at www.factset.com and follow on Twitter: www.twitter.com/factset.

    FactSet
    Media Relations Contact:
    Amy Bowman
    203.810.2144
    Abowman@factset.com

    Investor Relations Contact:
    Rima Hyder
    857.265.7523
    Rima.Hyder@factset.com

    News: Portware Recognized as Best Buy-Side EMS
    Body:

    Portware Recognized as Best Buy-Side EMS

    NEW YORK AND LONDON, May 4, 2017—Portware, a FactSet company and a leading global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced Markets Media has recognized Portware with the prestigious Markets Choice Award for Best Buy-Side EMS.

    The Markets Choice Awards span the most important sectors of institutional trading and investing. The winners of the 2017 Markets Choice Awards were selected by market participants and readers and identify “the best of the best” among buy-side investors, traders and trading desks, sell-side execution desks, exchanges and platforms, traditional technology providers and emerging FinTech firms.

    Portware Enterprise is a multi-asset thinking execution management system (EMS) that combines smart trade automation and execution with the latest in commission and visualization tools to support the buy-side’s most complex workflows and optimize alpha. The fully customizable, ultra-fast and open real-time system acts as a central platform to communicate, analyze and execute investment ideas for multiple global asset classes, empowering traders to make the most informed decisions in the shortest time. Portware seamlessly integrates with other systems to provide unconflicted access to the widest range of liquidity providers, broker algorithmic suites and trading destinations globally. The platform enables firms to customize and rationalize resources to extend the life of their existing technologies to bring down the TCO of their trading infrastructure with every trade, for every customer.

    The latest version of the platform, Portware Enterprise 6.4, offers clients data warehousing functionality, advanced venue analysis and an enhanced ability to record and analyze growing volumes of execution and Indication of Interest (IOI) data. The addition of on-demand, customizable reporting functionality will help clients meet growing regulatory requirements such as MiFID II, while upgrades to Portware’s user interface offer greater customization. Users can now tailor even more of their individual workspaces to their evolving requirements, on-demand, via new “Unlock Any” functionality. Enterprise 6.4 users can also now launch FactSet reports with a single click from inside the Portware user interface, with reports opening directly in the FactSet workstation.
    “Portware is committed to helping buy-side firms power the intelligent workflows required to improve trading performance while lowering the total cost of trade, and of the tools to trade,” said Alfred Eskandar, CEO of Portware. “We are honored that Markets Media has again recognized Portware as the Best Buy-Side EMS based on our partnership approach, global client growth and ability to continuously innovate to drive the most dynamic global trading operations.”

    ###

    About Portware:
    Portware, a FactSet company, is the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence. Portware’s thinking EMS helps automate and streamline the buy side’s most complex trading workflows. Spanning more than three dozen offices in 15 countries together with FactSet, Portware works in partnership with its clients to create highly customizable, automated solutions to create bespoke workflows, increase operational efficiencies and more closely align portfolio strategy with trade execution worldwide. Part of FactSet Research Systems Inc. (NYSE; NASDAQ:FDS), Portware’s award-winning trade automation solutions are redefining the electronic trading landscape by empowering traders and portfolio managers to maximize liquidity access, minimize information leakage, and enhance trade execution quality consistently to outperform in today’s complex global markets.

    Portware Releases V6.4 of the Thinking Multi-Asset EMS
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    New enhancements focus on alpha capture, A.I.-driven analytics, and regulatory compliance tools

    New York, Nov. 29 2016 – Portware, a FactSet Company and a leading global provider of multi-asset trade automation solutions powered by artificial intelligence (AI), today announced upgrades to its award-winning execution management system (EMS), Portware Enterprise. Portware Enterprise is a fully customizable “thinking” EMS designed to act as the central platform for the creation and execution of trading strategies for global equities, futures, options, fixed income, and FX. The latest version, Portware Enterprise 6.4, focuses on assisting traders in managing the regulatory and administrative burdens while freeing up their time to concentrate on preserving alpha with state-of-the-art, AI-driven tools.

    Portware Enterprise 6.4 offers users data warehouse functionality, advanced venue analysis, and an enhanced ability to record and analyze growing volumes of execution and Indication of Interest (IOI) data. The addition of on-demand, customizable reporting functionality will help clients meet growing regulatory requirements, while upgrades to Portware’s user interface offer greater customization. Now traders can tailor even more of their individual workspaces to their evolving requirements, on demand, via new “Undock Any” functionality. Enterprise 6.4 users can now also launch FactSet reports with a single click from inside the Portware user interface, with reports opening directly in the FactSet workstation.

    Further upgrades to Portware’s Wave Optimizer help portfolio managers and traders best determine how and where to route and execute their orders. At the same time, the underpinnings of Portware’s unique Alpha Pro artificial intelligence agent have been expanded such that every order on a trader’s blotter can now benefit from advanced analytics and strategy suggestions—without first-party data having to leave the firm.

    “Traders today are inundated with data. When a fundamental challenge is merely sifting through the noise to find a signal, traders need smarter tools that can help them analyze market conditions and execute the best trading strategy for a particular order at any given time—while simultaneously meeting their regulatory obligations,” said Alfred Eskandar, CEO of Portware. “An EMS should not just be a staging and order routing tool—it needs to add measurable value. Portware Enterprise 6.4 gives our clients much needed tools to improve their most complex global trading strategies. With our expanding FactSet integration we can offer a more robust trading solution and deliver on our joint commitment to provide the investment community with state-of-the-art analytic and execution applications across the portfolio lifecycle.”

    “Market volatility and dynamic regional compliance initiatives are placing greater pressure on buy-side firms as they look to reduce technology complexity, cut costs and manage increasingly complicated workflows. New best execution requirements and pending regulatory mandates like MiFID II will force firms to demonstrate they can effectively store, analyze and report on their execution data,” said Richard Johnson, VP, Market Structure and Technology, at Greenwich Associates. “Firms will need to ensure they have access to advanced execution systems that can customize strategies and offer superior analytics necessary to deliver venue analysis and customized reporting.”

    About Portware:
    Portware, a FactSet company, is the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence. Portware’s thinking EMS helps automate and streamline the buy side’s most complex trading workflows. Spanning more than three dozen offices in 15 countries together with FactSet, Portware works in partnership with its clients to create highly customizable, automated solutions to create bespoke workflows, increase operational efficiencies and more closely align portfolio strategy with trade execution worldwide. Part of FactSet Research Systems Inc. (NYSE; NASDAQ:FDS), Portware’s award-winning trade automation solutions are redefining the electronic trading landscape by empowering traders and portfolio managers to maximize liquidity access, minimize information leakage, and enhance trade execution quality consistently to outperform in today’s complex global markets.

    Media Contact:
    Amy C. Bowman
    FactSet Research Systems Inc.
    Email: abowman@factset.com
    Phone: +1 (203) 810 2144

    GIC, Singapore's Sovereign Wealth Fund, Selects Portware's Multi-Asset EMS for Intelligent Trade Execution Management
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    Premier sovereign wealth fund deploys smart automation for global trading operations

    New York, Singapore – June 29, 2016 – Portware, a FactSet company and a leading global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced that GIC, Singapore’s sovereign wealth fund, has selected Portware Enterprise as its global execution management system (EMS). GIC considers the integration of advanced analytics and leading edge technology critical to its commitment to best execution, and this philosophy was a driving factor in the selection.

    About Portware:
    Founded in 2000, Portware is the financial industry's leading developer of broker-neutral trading solutions for global equities, futures, options, and FX. With offices in New York, London, Hong Kong, and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflows and increase operational efficiencies on trading desks worldwide. Portware's flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

    Media Contact:
    Amy C. Bowman
    FactSet Research Systems Inc.
    Email: abowman@factset.com
    Phone: +1 (203) 810 2144

    Portware CEO Alfred Eskandar named to Institutional Investor's Trading Technology 40
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    To stand out in a crowd of trading-software competitors, a company needs technology and innovation as table stakes. Portware had that in early 2012 -- the New York-based company was 12 years old, and investment firms were running an aggregate $3 trillion in assets on its execution management systems. But growth had slowed, and Portware's board, in search of new energy and ideas, hired Alfred Eskandar, a member of the founding team of buy-side trading platform Liquidnet, as CEO. Today, Portware's managed-assets total is $10 trillion, payback on product initiatives like Alpha Vision, which introduced real-time predictive analytics to the process of optimizing execution strategy. Portware's transformation may have only just begun, because it was acquired by financial information company FactSet Research Systems in October for $265 million in cash.

    Read Eskandar's full profile here.

    Portware Named Best FX Trading Platform
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    Portware, a FactSet company and the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced that Wall Street Letter recognized Portware for the fourth year in a row with the prestigious WSL Institutional Trading Award for Best FX Trading Platform. 

    Evaluated by a panel of independent judges, the WSL Awards recognize brokerage firms, exchanges, and financial technology companies for achievements and innovation in the institutional trading industry over the last year. Portware received the Best FX Trading Platform award based on its proven innovation, demonstrated client satisfaction, and positive impact on the market. 

    Portware FX provides traders with a real-time view of the entire FX marketplace through a single, fully customizable front end trading environment. The comprehensive FX trading solution aggregates liquidity from all global providers including banks, ECNs and interdealer platforms to streamline complex workflows and give traders maximum choice with respect to trading strategies and order routing destinations. Portware’s customizable algorithmic strategies, powerful analytics, and end-to-end workflow integration give users a compelling and complete FX trading solution that brings new efficiencies to FX trading. 

    “Portware continues to enhance our FX platform to give our clients the performance, customization, and workflow integration they need to drive their complex FX trading strategies, and we are honored that Wall Street Letter has again recognized our commitment to innovation and ongoing growth,” said Alfred Eskandar, CEO of Portware. “It’s this proven dedication to excellent client service and engagement that has fueled the success in our global FX business.” 

    About Portware
    Founded in 2000, Portware LLC is the financial industry's leading developer of broker-neutral trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong, and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflows and increase operational efficiencies on trading desks worldwide. Portware's flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

    About FactSet
    FactSet is a leading provider of integrated financial information and analytical applications. More than 63,000 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet's desktop analytics, mobile applications, and comprehensive data feeds. The Company has been included in FORTUNE's Top 100 Best Companies to Work For, the United Kingdom's Great Places to Work, and France's Best Workplaces. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE:FDS|NASDAQ:FDS). Learn more at www.factset.com, and follow FactSet on Twitter: www.twitter.com/factset

    FactSet and Portware Named Best M&A Deal by Markets Media
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    New York, February 26, 2016—Portware, a FactSet company and the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced that Markets Media has recognized Portware and FactSet Research Systems Inc. (NYSE: FDS | NASDAQ: FDS), with the Markets Choice Award for Best M&A Deal.

    First announced on September 22, 2015, the transaction enables FactSet to support client workflows in additional segments of the investment process. Portware is an award-winning, multi-asset execution management system (EMS) that is trusted by the world’s largest asset managers. Together, FactSet and Portware provide the investment community with state-of-the-art analytic and execution applications across the portfolio lifecycle, from analyst to portfolio manager to trader.

    The winners of the 2016 Markets Choice Awards were selected by Markets Media’s advisory board and recommendations from market participants and readers. The Markets Choice Awards select “the best of the best” among sell-side desks, institutional buy-side investors, technology providers, hedge funds and exchanges.

    “FactSet and Portware share a commitment to delivering exceptional client experience and continuous innovation, and we knew our similar approaches would provide measurable value to our clients,” said Alfred Eskandar, CEO, Portware. “We are excited and humbled that the industry has recognized the significance this transaction holds for the global investment community.”

    About FactSet
    FactSet, a leading provider of financial information and analytics, helps the world’s best investment professionals outperform. More than 62,000 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet’s desktop analytics, mobile applications, and comprehensive data feeds. FactSet has been included in FORTUNE’s Top 100 Best Companies to Work For, the United Kingdom’s Great Places to Work and France’s Best Workplaces. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE: FDS | NASDAQ: FDS). Learn more at www.factset.com, and follow on Twitter: www.twitter.com/factset.

    About Portware
    Founded in 2000, Portware LLC is the financial industry’s leading developer of broker-neutral trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflows and increase operational efficiencies on trading desks worldwide. Portware’s flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com

    Portware Named Best Buy-side EMS for Third Time
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    New York/Hong Kong/London, November 9, 2015 – Portware, a FactSet company and the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced it has been named  the Best Buy-side execution management system (EMS) in the 2015 Buy Side Technology Awards. The win marks the third year Portware has been recognized for its market-defining flagship product, Portware Enterprise.

    According to Buy Side Technology, the best buy-side EMS award recognizes the platform that features multi-broker/exchange connectivity, pre-trade transaction cost analysis (TCA), algorithmic trading tools and direct market access (DMA), and strong integration capabilities with order management systems (OMSs). Judged by an experienced panel of journalists, independent analysts, and industry experts, the award recognizes Portware as the only multi-asset EMS to combine smart trade automation and execution to bolster the buy side’s most complex workflows and optimize alpha. Portware’s fully customizable, ultra-fast, and open real-time EMS serves as a central platform to communicate, analyze, and execute investment ideas to make the most informed decisions across asset classes in the shortest time.

    The win caps another impressive year for Portware, including an expanded global footprint across the Americas, EMEA, and APAC and new client acquisition that sees Portware servicing clients managing over $9 trillion collectively in assets. Portware is now supported by FactSet Research Systems Inc. (NYSE; NASDAQ: FDS), which acquired Portware for $265 million. FactSet's superior financial research, insights, and analytics, together with Portware's award-winning multi-asset trading technology will allow investment professionals worldwide to receive the most comprehensive investment solutions across the entire trade lifecycle. Portware’s highly customizable EMS will continue to provide powerful trade analysis and automation with deeper integration of FactSet data to more closely align portfolio strategy with trade execution.

    “Portware’s continued industry recognition is a testament to our clients and their continued support and collaboration as we drive our vision for a new kind of truly multi-asset, smart trading platform,” said Alfred Eskandar, CEO, Portware. “Global buy-sides are faced with increasingly complex business and trading challenges, and we are honored that they continue to turn to Portware as a trusted partner and recognize our commitment to constantly innovating to give our clients the custom solutions they need.”

    Contact:
    Rachel Stern
    FactSet Research Systems Inc.
    203.810.1000

    Portware Named One of the Top Foreign Exchange Innovators by Global Finance
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    New York, November 6, 2015 – Portware, a FactSet company and the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced that Global Finance has included Portware in its first annual list of forex leaders, “The Innovators 2015 – Foreign Exchange.” Portware was selected for its proven innovation, rapid growth in FX business, and comprehensive FX trading solutions.

    The list is compiled by members of the Global Finance editorial board to provide recognition to outstanding members of the foreign exchange space who have implemented breakthrough products and improved services to transform FX strategy and mitigate risk. Today, asset managers face increasing challenges in navigating the evolving FX market and regulatory requirements. Portware has made significant investment in technology and resources to help asset managers manage complex, multi-asset workflows across the trade lifecycle.

    Portware FX provides traders with a real-time view of the entire FX marketplace through a single, fully customizable front-end trading environment. The comprehensive FX trading solution aggregates liquidity from all global providers including banks, ECNs, and interdealer platforms to streamline complex workflows and give traders maximum choice with respect to trading strategies and order routing destinations. Portware’s customizable algorithmic strategies, powerful analytics, and end-to-end workflow integration give users a compelling and complete FX trading solution that brings new efficiencies to FX trading.

    “We’re honored by this recognition from Global Finance, which validates our contribution and dedication to our clients in the evolving FX marketplace,” said Alfred Eskandar, CEO, Portware. “As a leading multi-asset execution management provider to global asset managers, we continue our commitment to innovation with a truly customizable and intelligent platform for smart automation.”

    Contact:
    Rachel Stern
    FactSet Research Systems Inc.
    203.810.1000

    FactSet completes acquisition of Portware
    Body:

    FactSet Completes Acquisition of Portware, Execution Management System (EMS) Provider, and Updates First Quarter Fiscal 2016 Guidance

    NORWALK, Conn., October 16, 2015 – FactSet Research Systems Inc. (NYSE: FDS) (NASDAQ: FDS), a leading provider of integrated financial information and analytical applications to the global investment community, today announced that following regulatory approval, it has completed its acquisition of all the issued and outstanding membership interests of Portware, LLC. FactSet funded the acquisition by borrowing $265 million under its existing revolving credit facility today.   
    Portware Acquisition

    First announced on September 22, 2015, the transaction enables FactSet to support client workflows in additional segments of the investment process. Portware is an award-winning, multi-asset execution management system (EMS) that is trusted by the world's largest asset managers. Together, FactSet and Portware expect to provide the investment community with state-of-the-art analytic and execution applications across more of the portfolio lifecycle, from analyst to portfolio manager to trader.

    “We are excited to bring Portware into the FactSet family and we are confident that our clients will benefit from the proven innovation and talented leadership behind our combined efforts,” said Phil Snow, CEO of FactSet.

    Alfred Eskandar, CEO of Portware, added, “We are thrilled to provide FactSet’s clients with our multi-asset EMS that will deliver smart automation and streamlined workflows to address their global trading needs.”

    The world’s top-performing financial professionals rely on FactSet's financial research, insights, and analytics. Portware embeds its solutions into each client's trading ecosystem, emphasizing the automation of simpler trade executions and enabling traders to focus on adding more value to their most complex trades.  FactSet and Portware plan to provide more powerful tools and services to align a firm’s portfolio strategy more closely with its trade execution. 

    Updated Business Outlook for the First Quarter of Fiscal 2016

    The following forward-looking statements reflect FactSet’s expectations as of today’s date. Given the number of risk factors, uncertainties and assumptions discussed below, actual results may differ materially. FactSet does not intend to update its forward-looking statements until its next quarterly results announcement, other than in publicly available statements.

    First Quarter Fiscal 2016 Expectations (the expectations below include the results from the acquisition of Portware)
    • Revenues are expected to range between $270 million and $274 million. 
    • Operating margin is expected to range between 32.0% and 33.0%.
    • The annual effective tax rate is expected to range between 31.0% and 32.0%, and assumes the U.S. Federal R&D tax credit will not be re-enacted by the end of the first quarter of fiscal 2016. 
    • GAAP diluted EPS should range between $1.44 and $1.46. Transaction fees of approximately $1 million related to the Portware acquisition have been excluded from this GAAP diluted EPS range. 
    • The lapse in the U.S. Federal R&D tax credit on December 31, 2014, reduced each end of the GAAP diluted EPS range by $0.02 compared to the recently completed fourth quarter.  If the U.S. Federal R&D tax credit is re-enacted by November 30, 2015, diluted EPS would range between $1.49 and $1.51. FactSet would also recognize an income tax benefit of $0.14 per share if the R&D tax credit could be retroactively applied to previous periods. 

    About FactSet
    FactSet, a leading provider of financial information and analytics, helps the world's best investment professionals outperform. More than 62,000 users stay ahead of global market trends, access extensive company and industry intelligence, and monitor performance with FactSet's desktop analytics, mobile applications, and comprehensive data feeds. The Company has been included in FORTUNE's Top 100 Best Companies to Work For, the United Kingdom's Great Places to Work and France's Best Workplaces. FactSet is listed on the New York Stock Exchange and NASDAQ (NYSE:FDS) (NASDAQ:FDS). Learn more at www.factset.com, and follow us on Twitter: www.twitter.com/factset.

    About Portware
    Founded in 2000, Portware, LLC is the financial industry's leading developer of broker-neutral, automated trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong, and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflow and increase operational efficiencies on trading desks worldwide. Portware's flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

    Forward-looking Statements
    This news release contains forward-looking statements based on management's current expectations, estimates and projections. All statements that address expectations or projections about the future, including statements about the Company's strategy for growth, product development, market position, subscriptions, expected expenditures and financial results are forward-looking statements. Forward-looking statements may be identified by words like "expects," "anticipates," "plans," "intends," "projects," "should," "indicates," "continues," "subscriptions" and similar expressions. These statements are not guarantees of future performance and involve a number of risks, uncertainties and assumptions. Many factors, including those discussed more fully elsewhere in this release and in FactSet's filings with the Securities and Exchange Commission, particularly its latest annual report on Form 10-K and quarterly reports on Form 10-Q, as well as others, could cause results to differ materially from those stated. These factors include, but are not limited to: the current status of the global economy; the ability to integrate newly acquired companies and businesses; the stability of global securities markets; the ability to hire qualified personnel; the maintenance of the Company's leading technological position; the impact of global market trends on the Company's revenue growth rate and future results of operations; the negotiation of contract terms with corporate vendors, data suppliers and potential landlords; the retention of key clients; the successful resolution of ongoing audits by tax authorities; the continued employment of key personnel; the absence of U.S. or foreign governmental regulation restricting international business; and the sustainability of historical levels of profitability and growth rates in cash flow generation.

    CONTACT: Rachel Stern
    203.810.1000

    FactSet agrees to acquire Portware
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    FactSet Research Systems Inc., a leading provider of integrated financial information and analytical applications to the global investment community, has agreed to acquire Portware, LLC. Following regulatory review, the transaction is expected to close before the end of FactSet's first fiscal quarter. - See more at: http://www.factset.com/news/20150922070000

    Portware's Growth Momentum Accelerates in Q1 Driven by Global Asset Manager Wins
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    New York and London, March 26, 2015—Portware, the first and only provider of multi-asset trade automation solutions powered by artificial intelligence, today announced results for the first quarter of 2015. Driven by continuous product innovation in the new age of trade automation, Portware signed a record number of new clients and experienced 40% year-over-year growth, most notably a dramatic growth in FX. Portware continues to grow its global footprint throughout the Americas, EMEA and APAC and now serves clients that collectively manage over $8.5 trillion in assets.

    Global tier-one institutions continue to employ Portware for its unique ability to address their most complex multi-asset workflows. Portware’s customizable platform offers traders unprecedented real time decision support tools and helps institutions intelligently automate their trading workflows across the globe. Portware Enterprise helps institutions create and execute strategies for global equities, futures, options and FX with centralized control, advanced data visualization capabilities and intelligent execution routing. Portware’s AlphaVision uses predictive analytics to empower traders to automatically select, implement, monitor and adjust algorithms to achieve an optimal trading strategy. 

    The industry’s push to automate FX trading strategies also helped fuel dramatic growth in Portware’s FX business over the last year. Portware FX provides a real-time consolidated view of the entire FX marketplace to deliver a custom trading environment with next generation algo strategies, its Smart Trade Assistant (STA) and decision supports tools. With access to FX Liquidity Monitor (FXLM), Portware’s transaction cost analysis (TCA) and post-trade reporting toolset, FX clients are afforded greater visibility into their trading performance. 

    Other recent Portware milestones include:
    • Achieved global, multi-asset customer wins in North America, EMEA and Asia Pac representing nearly $3.5 trillion in assets under management.  
    • Added new clients in Singapore, Hong Kong, Japan and Taiwan 
    • Announced plans to open a Singapore office and additional hires in the Hong Kong office to support growing client demand 
    • Signed partnership agreements with leading and innovative companies: S3, Markit and Equinix
    • Given consistent industry recognition for Portware’s core offerings, with award wins and accolades including: Wall Street Letter’s Best FX Trading Platform and Markets Media’s and Waters Technology’s Best Buy-Side EMS. In addition, CEO Alfred Eskandar was named to the Institutional Investor Trading Technology 40 
     
    “Regulatory and market structure changes, automation of new asset classes and increasingly complex trading strategies and workflows have placed enormous pressure on institutions to achieve both efficiency and enhanced performance to maintain an edge in this competitive environment,” said Alfred Eskandar, CEO, Portware.  “We embrace the fact that our clients need a flexible, customizable solution that delivers smart automation and empowers the trader to trade at the intersection of human and artificial intelligence.” 

    Portware Named Best Buy-Side EMS for Third Consecutive Year
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    New York, February 23, 2015—Portware, the leading and largest provider of multi-asset trade automation solutions for tier one global asset managers, today announced Markets Media has recognized Portware for the third consecutive year with the prestigious Markets Choice Award for Best Buy-Side EMS.

    The winners of the 2015 Markets Choice Awards were selected by Markets Media’s advisory board and recommendations from market participants and readers. The Markets Choice Awards identify “the best of the best” among sell-side desks, institutional buy-side investors, technology providers, hedge funds and exchanges.

    Portware Enterprise is an industry-leading, multi-asset trading platform that combines artificial intelligence and quantitative analytics with advanced visualization, algo management, transaction cost analysis (TCA) and commission optimization tools for real-time decision support. The platform includes pre-, intra- and post-trade analytics, smart order routing and customizable execution strategies that empower traders with unprecedented control to optimize trade execution and maximize alpha. Tier one global buy-side firms favor Portware’s ability to automate their most complex workflows and strategies across multiple asset classes including equities, FX, futures, options, fixed income and OTC instruments. 

    Portware’s ability to partner and integrate with other systems enables traders to access other best of breed solutions and deliver additional competitive advantages. This is a testament to the openness of the Portware platform and the company’s creative approach to automate unique buy-side workflows.

    “Our continued adoption by the most sophisticated global buy-side firms is fueled by our ability to work with our customers to understand their unique trading needs and deliver a flexible platform with a new level of automation and intelligent execution,” said Alfred Eskandar, CEO, Portware. “We’re honored that Markets Media has again recognized Portware as the Best Buy-Side EMS based on our ongoing investment in product innovation and commitment to solve our clients’ complex trading challenges.”

    Portware Named Best FX Trading Platform
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    February 11, 2015—Portware, the leading and largest provider of multi-asset trade automation
    solutions for tier one global asset managers, today announced Wall Street Letter has recognized Portware for the third consecutive year with the WSL Institutional Trading Award for Best FX Trading Platform. 

    Determined by a panel of independent judges, analysts and industry experts, the WSL Awards recognize financial technology companies, brokerage firms and exchanges for achievements and innovation over the last year. Portware was selected based on record global growth in FX volumes, continued innovation and ability to attract top tier global clients to its highly-customizable platform. 

    Portware FX provides traders with a real-time view of the entire FX marketplace through a single, fully
    customizable front end trading environment. The platform delivers an embedded suite of customizable execution strategies, a wide range of algorithmic strategies from third parties and a liquidity aggregation engine that enables automation of complex workflows, improves execution quality and increases trading efficiencies. Portware’s FX Liquidity Monitor (FXLM) provides a robust TCA and post-trade reporting toolset and increased intelligence around smart order routing and benchmarking in response to industry regulations for increased trade visibility and performance measurement and optimization.   

    “The explosive growth in our FX business is due to our ability to collaborate with our clients to understand their deepest pain points and provide the customized algos, real-time TCA and consolidated view they need to
    automate their most complex FX workflows,” said Alfred Eskandar, CEO, Portware. “We’re honored Wall Street
    Letter has acknowledged our ongoing commitment to customer service as we continue to enhance our platform to give our clients the greatest competitive edge possible.”

    PORTWARE Partners with Markit to Deliver Point of Trade Analytics to the Buy Side
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    December 8, 2014 – PORTWARE, the leading and largest provider of multi-asset trade automation solutions for tier one global asset managers, today announced a partnership to deliver point of trade analytics to the buy side. The solution will integrate Markit TCA, Markit’s pre- and post-trade transaction cost analysis (TCA) platform, into Portware’s award-winning Execution Management System (EMS) to deliver next generation TCA seamlessly integrated with the trader’s workflow for best execution and enhanced decision support.

    Portware Enterprise is a multi-asset thinking EMS that automates and bolsters the buy side’s most complex workflows. It brings measurable efficiencies and workflow automation to the trading desk by using artificial intelligence to give traders and portfolio managers the highest level of real-time color and TCA on their orders. PORTWARE has integrated Markit TCA into Portware Enterprise allowing clients to view trading analytics directly in their trade blotter. Portware and Markit will develop highly-optimized collaborative workflows that integrate point-of-trade analytics information for liquidity management and optimal trade execution. PORTWARE also has seamless integration with Markit’s post-trade TCA tool, which means that client execution data can be processed automatically for further analysis.

    “The buy side’s growing need for cost and performance controls requires custom technology solutions as complexity in market structure increases. Portware’s open architecture and limitless integration potential with partners allows us to uniquely address these needs,” said Alfred Eskandar, CEO of PORTWARE. “Portware’s record client wins over the last year are a testament to the flexibility and strategic value this approach adds. The ability to have at-trade analytics is crucial as firms seek to minimize transaction costs and enhance performance of their executions and this gives them access to an independent global analysis platform.”

    Markit TCA is a global equity and FX trading analysis platform for buy side and sell side firms. Designed by traders, Markit TCA delivers the metrics necessary to streamline performance-based order routing and optimal trade strategy selection. It combines comprehensive historical trading performance metrics with up-to-date forecasts and directional signals.
    Tom Conigliaro, managing director at Markit, said: “The integration of Markit TCA with PORTWARE’s trading solutions will help institutional investors by providing them with greater insight for their trading decisions. Markit’s high quality pre- and post-trade analytics, combined with PORTWARE’s state of the art trading technology, helps customers manage trading costs and cumulative price impact, as well as overall execution quality.”

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    About Portware
    Founded in 2000, Portware LLC is the financial industry's leading developer of broker-neutral trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflows and increase operational efficiencies on trading desks worldwide. Portware's flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

    Media Contact:
    Diana Kearns-Manolatos
    Articulate Communications Inc.
    dkmanolatos@articulatecomms.com
    212-255-1203

    About Markit
    Markit is a leading global diversified provider of financial information services. We provide products that enhance transparency, reduce risk and improve operational efficiency. Our customers include banks, hedge funds, asset managers, central banks, regulators, auditors, fund administrators and insurance companies. Founded in 2003, we employ over 3,000 people in 10 countries. Markit shares are listed on Nasdaq under the symbol “MRKT.” For more information, please see www.markit.com.

    Portware Wins Best Buy-side EMS
    Body:

    Award acknowledges record global client growth, unparalleled product innovation and deep multi-asset coverage

    New York, Hong Kong, and London, November 13, 2014—Portware, the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced that Buy Side Technology has again recognized Portware Enterprise as the Best Buy-side execution management system (EMS) in the 2014 Buy Side Technology Awards. Portware Enterprise was selected for its unique combination of customization, pre- and post-trade analytics and multi-asset coverage that set it apart from other systems. The win comes on the heels of a record year for the company, as several global asset managers including Invesco and The Boston Company have selected Portware as the centralized hub for execution management across asset classes (incl. global equities, FX, futures, options and fixed income).

    Judged by a panel of experienced journalists, independent analysts and industry experts, the award recognizes Portware as the only EMS provider to combine artificial intelligence, visualization, algo and commission optimization tools for real-time decision support. According to Buy Side Technology, the best buy-side EMS award recognizes the platform that features true multi-broker/exchange connectivity, pre-trade transaction cost analysis (TCA), sophisticated algorithmic trading tools and direct market access (DMA) and strong integration capabilities with order management systems (OMSs).
    Portware’ has achieved record growth over the last year and recorded more new client wins than any other point in the company’s history, including tier-1 asset managers who manage more than $3 trillion of assets. Global buy-side firms choose Portware for its unique ability to address their most complex workflows across multiple asset classes with a truly customizable and real-time platform that helps users efficiently automate and optimize alpha. Portware has shown sustained, significant global growth across the U.S., Europe and Asia and continues to invest in product innovation to deliver the premier thinking EMS to global financial institutions.

    “Our clients have been amazingly supportive and engaged in helping us achieve this honor. They have partnered with us to bring to market ideas and features that are pushing buy side capabilities to new heights. They have also been instrumental and generous with their time in talking to other buy side firms on our behalf—we could not ask for more” said Alfred Eskandar, CEO, Portware. “Market structure complexities and the electronification of other assets classes will drive more demand for custom trading technologies and we are honored to be recognized as the firm that is leading the pack.”
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    About Portware
    Founded in 2000, Portware LLC is the financial industry's leading developer of broker-neutral trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflows and increase operational efficiencies on trading desks worldwide. Portware's flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

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    Portware Closes Minority Recapitalization
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    Portware, the first and only global provider of multi-asset trade automation solutions powered by artificial intelligence, today announced the completion of private equity financing led by Long Ridge Equity Partners and the Portware Executive team. The minority recapitalization maintains Portware’s independence and recognizes the company’s proven record of innovation and success in delivering award-winning multi-asset trading solutions. The new financing will be used to retire all outstanding debt and provide additional resources for growth initiatives. This transaction follows a period of dramatic growth for the company, as Portware Enterprise has recently been selected by global institutions representing more than $3 trillion in assets under management as the centralized hub for execution management across global equities, FX, futures, options and fixed income.

    Founded in 2000, Portware is a leading provider of execution management systems (EMS) to global financial institutions. The company is the only EMS provider to combine artificial intelligence, visualization, algo and commission optimization tools for real-time decision support. Portware Enterprise is an ultra-fast, open, thinking EMS that automates and bolsters the buy side’s most complex workflows.

    “We have made significant investments in our products, people and infrastructure to ensure continued success, and this transaction will further strengthen our firm as we continue to expand globally,” said Alfred Eskandar, CEO of Portware.

    “Our success is rooted in our approach of collaborating with our clients to identify their unique processes, pain points and workflows and engineer the right solutions to turn their challenges into opportunities. This type of focused commitment to our clients has allowed Portware to flourish and continuously post record results over the last several years while the industry contracted,” added Scott DePetris, President and COO of Portware.

    “Portware’s results-oriented management team has built an impressive track record and is respected for their unconventional thinking that drives product innovation and measurable client value,” said Jim Brown, Managing Partner of Long Ridge Equity Partners. “Their strong industry pedigree combined with the firm’s impressive global growth gives us confidence that Portware will continue to deliver the most innovative and robust trade automation solutions to the institutional trading community.”

    As part of the transaction, Jim Brown will join the Portware Board of Directors. Portware will remain an independent company with majority ownership remaining with founders and the management team.

    Broadhaven acted as exclusive advisor to Portware, and Morgan Lewis served as the company’s legal counsel for the transaction.

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    About Portware:

    Founded in 2000, Portware LLC is the financial industry’s leading developer of broker-neutral trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflows and increase operational efficiencies on trading desks worldwide. Portware’s flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. For more information, please visit www.portware.com.

    About Long Ridge Equity Partners:

    Founded in 2007, Long Ridge Equity Partners is a private investment firm focused on the financial services industry. Leveraging deep sector knowledge and an extensive network of industry resources, Long Ridge serves as a value-added partner to high-growth financial services businesses. Long Ridge places a strong emphasis on partnership with management, focusing heavily on aligned incentives through equity participation. Long Ridge actively seeks growth capital and special situations investments in a range of financial sub-sectors including financial technology, business services, and specialty finance. For more information, please visit www.longridgecap.com.

    Media
    Body:
    The Right Tool For The FX Job
    Publications: Traders Magazine.
    Currency Traders Demand Better OMS Tools
    Publications: Securities Technology Monitor.
    Further Automating the Trading Desk
    Publications: Wall Street & Technology.
    Big Data Techniques Can Give Institutional Portfolio Managers Upper Hand
    Publications: Wall Street & Technology.
    Optimizing Fund Performance in the New Financial Market Ecosystem
    Publications: Traders Magazine.
    FX REPORT: Currency Traders Demand Better OMS Tools
    Publications: Traders Magazine.
    THE FUTURE: TRADING SYSTEMS HUNT FOR ALPHA
    Publications: Markets Media.
    SMARTENING’ TRADE EXECUTION
    Publications: Markets Media.
    TRADERS VISUALIZE DATA
    Publications: Markets Media.
    BUY-SIDE TRADERS SEEK MORE FROM ALGOS
    Publications: Markets Media.
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