Wall Street Letter Volume XLV Issue 21 - Page 7

27 JUNE – 3 JULY 2013 regulators to jointly adopt uniform cross-border swap rules. TECHNOLOGY Portware sees strong market for core trading tech Portware is seeing strong demand for core trading technology from the market in spite of metrics that typically point to lower interest, according to Harrell Smith, head of product strategy. During a break at the Securities Industry and Financial Markets Association’s Tech 2013 conference last week, Smith told WSL the technology provider is seeing “relatively strong” interest in HARRELL SMITH head of product its core Enterprise strategy, Portware trading platform, which provides algo execution capabilities across equities, futures, options and foreign exchange. The activity is surprising to the vendor, Smith said, due to lower volumes, which usually lead to belt tightening. But he noted it can be attributed to firms looking to prepare for the future by investing in a system that will offer the performance and workflow integration they need. “These firms have tried a number of relatively low-cost solutions out there provided by typical [application service providers], and the ability to have a more customizable solution for their specific needs is more what they are going for,” he said. In making these decisions, these firms are considering needs for the next decade. “Whereas previously the mindset was to get through the next year and choose tools that are adequate, they are looking at their needs not just for the next 12 months but 10 years from now,” he added. Portware is also continuing its rollout of Alpha Vision predictive analytics and algo optimization platform, Smith said. He said the platform now has an enhanced core analytics engine and good adoption rates among toptier buy-side and sell-side firms. EXCHANGES & ATSs Auction], similar to other options exchanges.” The functionality is expected to be in place this summer after development is completed, the exchange said. Members will be notified in an alert as to the participant orders that can trigger the auction in which options. POST-TRADE Phlx to mirror others on complex order auction Nasdaq OMX Phlx plans to literally take a page from the rulebooks of the Chicago Board Options Exchange, NYSE Arca and NYSE MKT as it looks to limit orders that can participate in its complex order auctions, according to a regulatory proposal from the exchange. Specifically, Phlx said it would choose to identify orders from offfloor broke ?????????????????????????????????????????????????????????????????????????????????d???????????????????????????????????????A????????????????????????????????????????????????????????????????????????????????????q??????????????????????????????????????????????????????????????????????????t??????????????????????????????????????????Q?????????????????????????????????????????????????????????????????????????]?????A???????????????????????????????????????????????????????????9????????????????????????????????????????????????????????????????????????q=??????????????????????????????????????????????????????????????t?????????q%????????????????????????????????????????????????????????????????????????????????????????????????????????m ???????=???1??()M???????????????????????%5?????)?????????????????????????????????????????????????????????????????????????%??????????5??????????????%5????????????????????????????????????????????????????????????????????????????????????????????????????????????%5?e?????????)?????????????????????????????????????????????????????????T?%5????T?%??????????????????????4???????????????????????????????????????T?%5???????T?%?????????????????????????????????????????????????????? ?????????????????????????????????????T?%????????????????????????????????T?%????????????????????????????????????????????????????????????????????????????????????????????????????????????????I??????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????????%5??????????????????????????????????????????????????????????????????????????????????????????????? ???????????????????????????????????????????????????????????????????????????????????????????((??((0