The TradeTech 2008 Awardsâ judges panel, made up of leading industry professionals and thought leaders, voted Portwareâs trading system the best for client satisfaction, reliability, speed, and cost efficiency for both buy- and sell-side firms. Also shortlisted for the award were Flextrade, TradingScreen, Traderforce, GL Trade and Townsend Analytics.
Ary Khatchikian, president and chief technology office, Portware, accepted the award. He said: âWe are delighted to receive the award for Best Execution Management system, particularly as the European market is undergoing significant regulatory and structural changes. MiFID has placed a greater focus on achieving â and proving â best execution, while new execution venues have led to increased market fragmentation, creating a challenging trading environment.
âMore than ever, firms recognize the need for advanced, flexible and scalable solutions that address regulatory requirements and take advantage of new opportunities in electronic trading. This award is a testament to Portwareâs ongoing commitment to provide our clients with innovative trading solutions and best-in-class technology.â
Also at the awards ceremony, Jim Feingold, global head of sales and marketing, Portware, added: âIn todayâs marketplace, traders need advanced tools to help them achieve best execution and price improvement. Portware provides access to every global liquidity source, including all dark pools, crossing networks, broker algorithmic strategies, exchanges and ECNs, allowing traders to route orders to the most appropriate market center.â
Portware offers integrated support for multiple broker and independent pre-trade Transaction Cost Analysis (TCA) feeds, so clients can efficiently gauge trading costs and route orders accordingly. These features, combined with real-time benchmarking capabilities, post-trade analytics and a consolidated trading environment, allow for the analysis of orders at any point during the trade workflow cycle and help firms comply with new regulatory and reporting requirements under MiFID.
This award is the latest in a series for Portware; last year Portware won the award for Best Electronic Trading System for the Buy-Side at the Financial News Awards for Excellence in IT, and was voted Best Execution Management System in Financial iâs Leaders in Innovation Awards.