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Portware to Offer Goldman Sachs Algorithmic Trading. Goldman Sachs' Algorithms Available via Portware Professional

NEW YORK – September 16, 2004 –Portware, a developer of portfolio-based trade management systems, today announced an agreement with Goldman Sachs to supply clients with access to Goldman Sachs Algorithmic Trading’ (GSAT), a suite of proprietary trading algorithms, sophisticated order types and analytics, via Portware Professional, the leading trade management system for global investment managers, hedge funds and broker/dealers.

GSAT unites trading expertise, advanced technology and financial engineering to produce exceptional results. GSAT provides the best of both worlds: the consistency of automated trading combined with decision support from Goldman Sachs professionals.

Portware Professional is the global securities industry’s leading trade management system for automated and portfolio trading of global equities, futures, options and FX. Portware Professional is a real-time, FIX-compliant, broker-neutral system currently in use at more than 100 buy-side, sell-side and hedge fund firms for basket, index and automated quantitative trading.

"We are pleased to be working with Portware to provide clients with access to GSAT's proprietary algorithms," said Jana Hale, global head of Goldman Sachs Algorithmic Trading.

"We are excited to be one of the first vendors to incorporate GSAT’s algorithms," said Eric Goldberg, co-founder and chief executive officer for Portware. "This alliance with Goldman further enhances the inherent power of our broker-neutral trading system. Through Portware, traders can access proprietary strategies and algorithms from multiple brokers, access any execution destination and manage their entire portfolios."

The inclusion of GSAT’s algorithms is the latest in a series of pre-packaged dialogues and order types from multiple brokers and execution destinations to be embedded within Portware Professional. This feature allows Portware users to quickly access their execution destinations – whether a broker/dealer, a direct access provider, or an ECN/ATS – from a single, central location.