Portware, an independent provider of global, multi-asset trading solutions, today announced that it has integrated, global investment bank, Lehman Brothersâ latest dark liquidity seeking algorithms and pre-trade Transaction Cost Analysis (TCA) into the Portware trading platform. The integration has extended the bankâs capabilities to provide access to innovative liquidity-seeking algorithms and offer comprehensive best execution tools to buy-side clients on the Portware execution platform.
Portwareâs flexible, broker-neutral trading solution is able to incorporate numerous sources of pre- and post-trade TCA and quickly go live with the latest algorithms. It has incorporated both basket and single stock pre-trade cost estimates from Lehman Brothersâ analytics platform, LehmanLive and Portfolio WebBench TCA, providing users with a real-time, single view of workflow and transaction costs in order to execute trades more efficiently and improve performance.
In addition, Portware has integrated Lehman Brothersâ dark liquidity offering Liquidity Cross (LX). The LX platform anonymously pools active order flow from Lehman Brothers' European equity trading channels with the investment firmâs non-active inventory, providing buy-side clients with direct access to Lehman Brothersâ liquidity on a continuous and anonymous basis, throughout the trading day. LX is also available as part of Lehman Brothersâ algorithmic trading service, LMXSM, which seeks liquidity based upon clientsâ specific requirements and risk tolerances.
Adam Toms, Head of Portfolio & Electronic Sales Trading in Europe at Lehman Brothers, comments: âPortware has embedded our TCA and dark liquidity offerings direct into its trading application, allowing us to provide the latest in trading tools to our clients on the Portware platform. With the use of comprehensive analysis and dark liquidity-seeking tools the buy-side is able to improve their execution strategy and minimise market impact.â
Eric Goldberg, chief executive officer, Portware, adds: âPortwareâs open and flexible architecture is designed to enable financial institutions to quickly take advantage of new opportunities in electronic trading. We have ensured Lehman Brothersâ advanced trading tools seamlessly integrate with buy-side trading infrastructures and support complex trading strategies going forward.â