TradePortal.com Inc., in conjunction with its subsidiary company TradePortal Securities Inc., a leading direct access brokerage firm, announced the release of its TradePORT Service Bureau for broker-dealers and prime brokerages.
TradePORT is the perfect solution for firms that want to enhance their relationships with buy-side clients through a fully integrated array of state-of-the-art trading systems. TradePortal will now offer its entire MatrixSuite of products, FIX-compliant order routing, risk management tools and SDK, in a service bureau configuration for the financial services industry.
Broker-dealers executing through TradePORT provide their customers with the ability to route orders directly to a client-designated market for execution through a platform carrying the broker-dealer's own MMID, effectively advertising the broker-dealer as a destination for order flow.
"Broker-dealers are seeking technology solutions to offer their clients, which include buy- and sell-side institutions, that are looking to expand their 'plug and play' business," said Julie Villa, president, TradePortal Securities Inc. "We are answering that demand with a suite of products, which can be white-labeled or integrated within a pre-existing suite of FIX 4.X-compliant technologies to expand functionality."
Positioned as a game changer, TradePortal's Direct Market Access platform is being embraced as essential technology, not just for the access it provides, but also for the trading tools and automation it brings to bear. "We are a technology partner and have discarded the point solutions approach as too narrow," add Villa. "Besides solving the short-range needs of better, faster and more cost-effective securities trading, we see our biggest value to our customers as unlocking opportunities to enter new markets."
TradePortal's flexible, adaptable and modular technology platform makes possible the suite of packages, which include:
- a full, white-labeled system, that includes the front end and smart routing features to a FIX gateway into the proprietary MatrixSuite enterprise class back office.
- an extensive toolbox for managing trading and settlement information that reduces the errors that can complicate client relationships. This includes the industry's most powerful fees engine and flexible management systems for regulatory features and real-time compliance used by firm administrators.
- a FIX hub API that incorporates .NET Web services into its popular smart order-routing technologies for clients and firms seeking the use of that technology only.
TradePortal-branded solutions empower broker-dealers through a platform designed to enhance their marketing and advertising programs. TradePORT includes the ability to service retail, hedge fund and market-making customers. TradePORT partners receive competitive software and execution costs, technical support and certified training programs, reducing the in-house overhead typically associated with these electronic trading requirements.
"Industry-leading technology combined with exclusive models for low-cost licensing and ownership will enable TradePortal to provide more firms with a level of service, pricing, branding and technology that is unparalleled in the industry," said Brad Williams, chief client services officer, TradePortal. "We are independent therefore there is no conflict of interest, the TradePORT offering fully integrates trades done away within a client portfolio manager with no impact on clearing relationships."
As a NASDAQ-certified partner, TradePortal has achieved the NASDAQ silver level service bureau ranking for TradePORT, positioning itself in an elite group of top-tier providers. The Certified Partners program is an evaluation system to inform market participants, of which NASDAQ Service Bureaus provide the highest levels of NASDAQ functionality, access and enhancements in a timely fashion. On a quarterly basis, NASDAQ disseminates the Service Bureau rankings based on a pre-defined list of qualifying criteria.