The TRADE 53 | Page 85

[ S U R V E Y | E X E C U T I O N M A N A G E M E N T S Y S T E M S ] Portware, A FactSet Company It is almost exactly two years since Portware was acquired by FactSet. The stated goal was to integrate Reliability and Availability the Portware trading and analytical tools to comple- Latency ment FactSet capabilities and improve the productiv- ity of FactSet users as a result. Portware was also seen Client Service Personnel as innovative and fast growing in an exciting area. Ease-of-Use Based on response numbers the Portware business Handling of New Versions/Releases appears to have flourished under its new ownership during the last twelve months. Response num- Breadth of Broker Algorithms bers nearly doubled. This year saw almost half the Timeliness of Updates for Broker Changes responses coming from Asia, while North America FIX Capabilities and the UK accounted for the remainder. Relative- ly speaking Portware saw more responses from Breadth of Asset Class Coverage institutional managers than hedge funds and it is Breadth of Direct Connections to Venues clear that the appeal is largest among the very large Product Development asset managers. Over 60% of respondents had AuM in excess of $50 billion. Interestingly Portware saw Ease of Integration to Internal Systems a higher proportion of multi-asset class users than Overall Cost of Operation any of the other profiled providers. However, based on respondent comments, some clients would like to Portware see better overall asset coverage as well as better pre 2016 2017 and post-trade analytics. That suggests that further 5.85 5.98 improvement could be seen with an even greater 5.91 5.67 level of integration. In terms of the 5.42 scores in 2017, 5.58 there was a small decline in the overall result. It remained better 5.84 5.51 than 5.50 across all categories, but was down by 0.14 points. This 5.24 result is more 5.20 than acceptable, but behind the very best In relative terms the 6.09 outcomes. 5.99 strongest area of performance was in the number and 5.56 5.85 breadth of broker trading options, where Portware saw an average of 5.78 very close to 5.75 6.0 (Very Good). In nine categories Portware beat the overall average 5.29 5.13 score but in a number of cases the difference was 6.02 5.72 insignificant. Some of the weakest scores were in the 4.98 of Operation, 5.22 area of Overall Cost where Portware scores were 0.30 5.71 points below the Survey level. This 5.65 could open the firm up to competition over time, 5.57 4.94 though the effectiveness of capabilities is more likely to determine future success than simply price. 5.85 5.98 Reliability and Availability Latency 5.67 5.91 5.42 5.58 Client Service Personnel Ease-of-Use 5.84 5.51 5.24 5.20 Handling of New Versions/Releases 6.09 5.99 Breadth of Broker Algorithms 5.56 Timeliness of Updates for Broker Changes 5.85 5.78 5.75 FIX Capabilities 5.29 5.13 Breadth of Asset Class Coverage Breadth of Direct Connections to Venues 5.72 6.02 4.98 5.22 Product Development 5.71 5.65 Ease of Integration to Internal Systems Overall Cost of Operation 4.94 0.00 1.00 2.00 2016 3.00 4.00 5.00 5.57 6.00 7.00 2017 Issue 53 TheTradeNews.com 85