Service provides backup for trading environment.
Press Release Summary:
Available to buy- and sell-side firms, Portware High Availability provides business continuity in event of trading system failure. Service continually monitors client's core trading environment, duplicating messages and maintaining real-time copies of positions, outstanding orders, and order status. If it detects interruption to normal trading operations, service switches to backup server environment, eliminating need to restart trading systems, check positions, and re-establish connections.
Original Press Release:
Portware Launches High Availability Solution to Deliver Unprecedented Business Continuity
Portware High Availability Provides Real-time Backup Service for Superior Support in Today's High-Volume Trading Environment
New York, US - 9 January 2008 - Portware, a leading independent provider of global, broker-neutral, multi-asset trading systems today launched its real-time failover system. Portware High Availability (HA) provides unprecedented business continuity in the event of any trading system failure and is available to buy- and sell-side firms using Portware's Enterprise solution.
Unlike standard disaster recovery and backup systems, Portware HA eliminates the risk of downtime by delivering an instantaneous failover solution. Portware HA continuously monitors the client's core trading environment, duplicating messages and maintaining real-time copies of positions, outstanding orders and order status, in a separate server environment. As soon as Portware HA detects an interruption to normal trading operations, it immediately switches to the backup server environment. This eliminates the need to restart trading systems, check positions and re-establish connections, which can take minutes and even hours, and may result in significant financial loss.
Eric Goldberg, chief executive officer, Portware comments: "In today's high volume trading environment every millisecond counts, and even a few seconds of downtime can result in huge financial loss. Portware HA offers a real-time back-up solution so trading can continue despite system blips or even catastrophic failures."
Ary Khatchikian, president and chief technology officer, Portware adds:
"The continued increase in trade volumes and market data, combined with the growing complexity of firms' trading strategies, has highlighted the importance of responding instantly to interruptions in trading services. Portware HA offers our clients a unique failover solution that far exceeds any regulatory obligations regarding business continuity and risk management."
About Portware
www.portware.com
Portware develops and sells multi-asset, automated and algorithmic trading software and solutions to the global securities marketplace. As the only wholly independent execution and order management trading systems provider, Portware supplies traders with true broker-neutral solutions to facilitate best execution. The company's suite of products includes a trading platform which supports FX, Single Stock, Portfolio, Program, Pairs and Index trading coupled with a powerful black-box Algorithmic Engine, the Portware Strategy Server which offers a completely customizable central trade portal to conduct a comprehensive range of trade activity. Since the company's launch in 2000, Portware solutions have been implemented at more than 100 firms worldwide, including quantitative hedge funds, traditional asset management firms and sell-side program trading desks.
Portware's event-driven, multi-threaded architecture offers high-frequency trading. On top of this architecture, Portware offers an extensible feature set tailored for different asset classes and trade styles, as well as tools for TCA, risk management and real-time reporting and a combination of pre-packaged and third-party algorithms and analytics.
Portware offers the ability to create proprietary algorithms to control every aspect of trade management or execution, from automated market-making, to hedging, crossing and full order-book management.
These strategies can be executed by traders from within Portware's user interface or automated using the Portware Strategy Server, a high-speed algorithmic engine for execution and order management.
