SIFMA SURVEY HIGHLIGHTS IMPORTANCE OF MULTI-ASSET, BROKER-NEUTRAL ELECTRONIC TRADING PLATFORMS

New York - 6 March 2008

The Securities Industry and Financial Markets Association (SIFMA) has released its first Annual European Equities e-Trading Survey. Based on interviews with nearly 100 leading buy-side institutions, the survey confirms that electronic trading is by far the leading method of equity execution in Europe, and shows that access to multiple sources of liquidity is the most important factor for buy-side firms when selecting electronic trading platforms.

Survey respondents identified several factors driving increased adoption of electronic trading among European asset managers and hedge funds, including greater efficiency, reduced costs, MiFID / best execution requirements and greater control over order flow.

The majority of respondents stated that the primary factor influencing their choice of electronic trading platforms was “access to multiple sources of liquidity / range of products offered” followed by speed of execution and ease of integration. The survey also identified liquidity fragmentation, OMS/EMS integration and best execution policies as the three leading challenges facing buy-side trading desks.

Commenting on the results, Harrell Smith, co-head of product strategy at Portware, says: “The survey highlights the buy-side’s need for flexible, multi-asset and broker-neutral electronic trading platforms, a model that Portware has long endorsed. Since its founding, Portware has provided clients with a complete trading solution, including access to multiple brokers and market destinations and true cross asset trading. Our solution also provides seamless integration with existing workflow applications, and support for regulatory initiatives including MiFID and Reg NMS. Portware’s flexible, open architecture allows firms to navigate an increasingly dynamic and technology-driven marketplace with a single, cost-effective trading solution.”

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