Trading technology provider Portware has unveiled the latest version of its execution management system (EMS), which is designed to reduce the cost and time associated with loading algorithms on the platform.
Version 5.0 of Portware Enterprise, the firm’s flagship trading and execution platform, includes simplified broker connectivity and allows algorithmic providers to upload their strategies to the EMS using FIX Protocol’s algorithmic trading definition language (FIXatdl).
FIX Protocol, which developed the FIX financial messaging standard, unveiled the first version of FIXatdl at the end of March. Using FIXatdl version 1.1, sell-side firms and providers of algorithms can send the specifications of their algorithms to vendors and buy-side firms using an industry-standard, computer-readable XML file rather than paper documents, reducing the time and cost of implementing new strategies. It also enables algo suppliers to create customised strategies for individual clients much easier.
Enterprise 5.0 also includes customisable alerts to help monitor trading and market related events in real-time and automatically launch related processes, as well as a new reporting tool-set that can be used by any client to generate custom reports on data within the EMS. According to Portware, users will have much greater control over report parameters, filtering options and scheduling.
The new version of Enterprise features a redesigned options trading platform, including an advanced front end with new configuration tools, integration with options trading solutions provider Hanweck Associates’ VoleraFEED low-latency options analytics solution, and an automated delta hedger that complements existing algorithmic offerings.
“Enterprise 5.0 delivers powerful new trading functionality while adding a host of new platform configuration and optimisation features,” said Ary Khatchikian, president and CTO of Portware, in a statement. “With Enterprise 5.0, we’ve built on our earlier success and created an even more advanced trading platform, one that will address our clients’ most complex trading requirements and serve as the foundation for future Portware development.”