UNX, Inc., the market structure experts, announced today it has begun a strategic relationship with Portware LLC, the leading developer of automated trade management software, to integrate both open platforms to execute algorithmic and program trading strategies across the fragmented US equities marketplace.
By combining the high-level tactical and execution capabilities of UNX's trading technology core with Portware's portfolio system for quantitative, index and basket trading, the two companies will offer institutional buy-side investors and hedge funds an integrated trading platform that is broker and destination neutral. Portware clients utilizing UNX's MetaECNT tactics engine, FLEXStreamT depth-of-book market data and consolidated market access will be able to execute their trading models through a customizable user interface designed to interact with major market centers strategically. All trade analytics, orders and executions can be monitored and reported back to the client in real-time.
"The relationship between UNX and Portware is a natural one that works to the strengths of both firms," said Randy Abernethy, CEO of UNX. "As market structure evolves and becomes more complex, we must continue to develop trading solutions to meet market needs and challenges. Together, UNX and Portware offer a powerful solution for the next stage of trading evolution."
"Algorithmic trading has entered a critical juncture, shaped by market fragmentation, advanced technology and the need for trading efficiency," said Jeff Brown, Director of Product Development at UNX. "We believe its value to the buy-side trader will grow significantly, and the UNX-Portware solution is well positioned to help lead the way."
Eric Goldberg, CEO of Portware, added, "Consolidation in the industry has left fewer, truly independent sources of US equity execution. Our clients depend on Portware to provide an open, broker-neutral system, and adding UNX to our platform is another demonstration of our commitment to provide a sophisticated solution that meets the demanding needs of institutional traders."