As part of the wind-down of Aritas Group, formerly known as Pipeline Trading, execution management system provider Portware has bought certain Aritas technology assets.
The purchase includes Alpha Pro and Aritas’s Algorithm Switching Engine. According to Portware chief executive Alfred Eskandar, the acquistion will enable the firm to inject both artificial intelligence and commission-savings tools into the buyside’s electronic trading process via its execution management system, something it has not been able to do. EMSs make quick automated trading routing decisions and can provide customized transaction cost analysis.
"This is an extension of our broker-neutral solutions," Eskandar said. "Alpha Pro and the Algo Switching Engine are highly complementary to our core offerings." They allow us to add advanced artificial intelligence and commission optimization tools to the Portware workflow, empowering traders to analyze, communicate and execute their investment ideas in an automated way."
Alpha Pro and the Algo Switching Engine will be available directly within Portware’s trading EMS interface. However, these solutions can be used by any client, regardless of which OMS/EMS they have deployed, Eskandar added.
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