Portware Streamlines Access to FX Markets
July 13, 2010
Portware said it streamlined access to foreign exchange markets with the release of the fifth generation of its Portware FX trading software.
The supplier of electronic trading programs said it has worked with several leading FX banks, including Citigroup, Credit Suisse and Deutsche Bank to integrate their algorithmic trading strategies into Portware FX. This will allow users to take advantage of those banks’ ability to execute trades, around the globe, as well as provide more flexibility in where orders can flow.
The new version also includes a Liquidity Monitor, which lets users gauge “slippage” in orders, by comparing executions by different liquidity providers to the Weighted Average Price during the time in question. The feature also breaks down how much liquidity for buying or selling currencies exsit at any given trading destingation for an order. Peformance of liquidity providers can also be analyzed, either in real-time or at the end of a month or other period.
The new features will be “allowing our clients to navigate today’s fragmented market with ease and gain greater insight into their trading performance,” said Ary Khatchikian, president and chief technology officer of Portware, whose software is used by leading hedge funds, institutions and broker-dealers.
Separately, StreamBase, a supplier of complex event processing software, announced a partnership with MarketFactory, a provider algorithmic applications for trading in foreign exchange.
The partnership will help hedge funds, banks, and proprietary trading firms speed their ‘time to first trade’ in the spot foreign exchange market, the two firms said.
“Accurately interpreting market data from legacy exchanges is a major recurring issue for all firms seeking to trade the institutional FX market” said Richard Tibbetts, chief technology officer of StreamBase.
Streambase’s software for pulling in and analyzing large amounts of market data will be combined with MarketFactory’s ability to establish fast connections with electronic trading venues.
The two expect customers will be able to rapidly build and deploy new approaches to programmed trading in currency markets.
