Trading solutions provider Portware has integrated investment bank Lehman Brothers’ latest dark liquidity seeking algorithms and pre-trade transaction cost analysis (TCA) into the Portware trading platform.
Portware has incorporated both basket and single stock pre-trade cost estimates from Lehman Brothers’ analytics platform, LehmanLive and Portfolio WebBench TCA, providing users with a real-time, single view of workflow and transaction costs.
Portware has also integrated Lehman Brothers’ dark liquidity offering – Liquidity Cross (LX). The LX platform anonymously pools active order flow from Lehman Brothers’ European equity trading channels with the investment firm’s non-active inventory, providing buy-side clients with direct access to Lehman Brothers’ liquidity on a continuous and anonymous basis, throughout the trading day. LX is also available as part of Lehman Brothers’ algorithmic trading service, LMXSM, which seeks liquidity based on clients’ specific requirements and risk tolerances.
"Portware 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,” says Adam Toms, head of portfolio and electronic sales trading in Europe at Lehman Brothers. “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.”
Eric Goldberg, chief executive officer, Portware, adds, “We have ensured Lehman Brothers’ advanced trading tools seamlessly integrate with buy-side trading infrastructures and support complex trading strategies going forward.”