Portware, a provider of multi-asset automation solutions and transaction cost analysis (TCA) tools has announced that they have achieved 40% year over year growth for Q1 of their 2015 fiscal year. As a private firm, Portware didn’t reveal revenue or profit figures for the quarter, but did report that growth was primarily powered by signing up new customers in the FX industry. The firm noted that interest from FX participants was for their suite of services that support algorithmic trading, including strategy development, TCA, and post trade reporting.
According to the firm, clients using their solutions collectively manage over $8.5 trillion in assets. During the quarter, new customer wins were from the Americas, EMEA, and APAC region, who manage over $3.5 trillion in assets.
New customer wins were from the Americas, EMEA, and APAC region, who manage over $3.5 trillion in assets
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Among regions experiencing growth, Portware stated that demand from the APAC region included new client from Singapore, Hong Kong, Japan, and Taiwan. As a result, the firm will be increasing their on the ground presence in the region with the hiring of additional employees to their Hong Kong office, as well as the planned opening of a new office in Singapore.
Explaining to Forex Magnates what is behind the demand, Alfred Eskandar, CEO of Portware described that there is a global trend among traders to source new areas to trade, which is boosting APAC volumes, stating “As the emergence of new exchanges and the global search for liquidity drive increased trading volumes into APAC, traders are seeking technology that will give them increased control and consistency over orders across the globe.” The representative added that for Portware specifically, the trend into the APAC region has driven more demand for their smart automation services.
the emergence of new exchanges and the global search for liquidity drive increased trading volumes into APAC – Alfred Eskandar, CEO of Portware
Portware’s growth in APAC is being fueled by a global consensus among the world’s largest global buy-sides that smart automation is needed to power these next generation trading workflows. Both new and existing Portware clients have embraced the industry’s first “thinking” EMS to automate increasingly complex trading strategies and workflows as asset classes become increasingly correlated and enhanced decision support is needed to optimize trade execution and alpha generation.