Portware Introduces Service-Bureau Version of its Trade Management System. Portware ASP Delivers Greater Efficiencies and Reduced Costs

NEW YORK – June 8, 2004 – Portware LLC, the global securities industry’s leading developer of broker-neutral trade management software, today introduced Portware ASP, a service-bureau version of Portware Professional, the industry’s premiere platform for automated portfolio trading.
Portware will host the entire application, including market data, FIX connectivity, order management and routing, eliminating the need for clients to install or manage any hardware on their end. Portware ASP is delivered through all major financial networks or securely via the Internet.

By offering a complete hosted solution, Portware ASP allows financial firms to focus more of their resources on trading rather than technology management. Firms are provided the ability to select third-party providers (data feeds, networks, etc.) of their choice to create a comprehensive, customized and fully-hosted solution to best fit their needs.

Portware ASP offers buy-side professionals – both institutions and hedge funds – the ability to achieve even greater trade efficiencies through the reduction of internal resource dependencies. For broker/dealers, Portware ASP provides an easy way to distribute a powerful, centralized trade management system to their clients, or to use internally to automate significant portions of the trade cycle without incurring additional costs.

"We’ve built our reputation as the premier vendor of automated portfolio trading software by listening to our customers and anticipating their requirements, and this is a reflection of that," said Ary Khatchikian, president and chief technology officer for Portware LLC. "The buy side is looking to gain control of their trading operations through reliable, powerful and efficient technology solutions, and the sell side is looking to provide them with these tools. With Portware ASP, we make that not only possible, but easy."

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