Wednesday 17th September 2014
slib33
WEDNESDAY SEPTEMBER 17th TICKER: UK unemployment fell by 146,000 to 2.02 million unemployed people in the three months to the end of July. Latest figures from the Office of National Statistics show that unemployment rate fell to 6.2%, its lowest rate since the September-to-November period of 2008 - European exchange-traded fund (ETF) provider Source is launching in the United States, with the firm's EURO STOXX 50 ETF the first product to be listed on the New York Stock Exchange - Guernsey’s Financial Services Commission approved 42 new investment funds during this year’s second quarter, while the regulator accepted a total of 131 new vehicles in the twelve months leading up to June 2014 - London Stock Exchange says it has made a series of improvements to the SETSqx trading service for securities outside the FTSE 350 Index - The People's Bank of China has designated ICBC as the Renminbi clearing bank in Luxembourg. The decision follows the signing of a Memorandum of Understanding between PBOC and Luxembourg's Central Bank in June this year.

Portware to acquire Aritas technology

Wednesday, 09 May 2012
Portware to acquire Aritas technology The broker-neutral, multi-asset trading solutions, Portare has announced that it has reached a definitive agreement to acquire the technology and analytical assets of Aritas Group, Inc. The terms of the deal were not disclosed. http://www.ftseglobalmarkets.com/

The broker-neutral, multi-asset trading solutions, Portare has announced that it has reached a definitive agreement to acquire the technology and analytical assets of Aritas Group, Inc. The terms of the deal were not disclosed.

 

Aritas, formerly known as Pipeline, offers a suite of predictive analytics and trade optimisation solutions designed to maximise alpha and minimise trading costs for institutional investors. Its Alpha Pro technology solution uses proprietary quantitative analysis of historical and real-time order flow, recommends a trading strategy most likely to enhance performance over the life of the order, and makes execution decisions based on the trader’s preference. Aritas’ Algorithm Switching Engine allows traders to execute the trading strategies from Alpha Pro by switching between an extensive suite of algorithms to maximize liquidity access, minimize information leakage and enhance trade execution quality.

 

According to Alfred Eskandar, “Aritas’ technology assets are highly complementary and add advanced artificial intelligence and commission optimization tools to Portware’s core offerings.”  He believes that the acquisition will provide a “natural extension of our broker-neutral trading solutions, and allows us to partner with the entire broker community to maximize the benefit of these advanced analytics.”

Eskandar continued, “Our goal is to empower traders to analyze, communicate and execute their investment ideas in an automated way. This acquisition allows us to offer any firm, regardless of size, an extraordinary level of automation and choice in their trading workflows. Clients can direct order flow to multiple brokers, improve execution quality, and reduce trading costs while delivering consistent results across multiple strategies.”

“We’re excited to join forces with Portware to unlock the value we have created in our technology assets,” said Jay Biancamano, Aritas’ Executive Chairman. “Only an open, broker-neutral provider of trading solutions can fully deliver this value to our customers, and Portware is the global leader, with a proven ability to deliver technology-driven value.”

Until January of this year Aritas was known as Pipeline. The name was changed in January this year as the company struggled to deal with the fallout from an SEC fine into its management of its dark pool. On October 24th 2011 the SEC fined Pipeline $1 million penalty to settle charges that the broker failed to disclose to clients that up to 80% of orders sent to the firm's dark pool were filled by a wholly owned trading affiliate.

It is perhaps therefore not surprising that the acquisition does not include the Aritas broker/dealer or the Aritas Block Market. These assets will remain with Aritas Group, Inc.

Related News

Related Articles

Related Blogs

Related Videos

Tweets by @DataLend

DataLend is a global securities finance market data provider covering 42,000+ unique securities globally with a total on-loan value of more than $1.8 trillion.

What do our tweets mean? See: http://bit.ly/18YlGjP

White Paper

Seeking Optimal ETF Execution in Electronic Markets

Seeking Optimal ETF Execution in Electronic Markets

 
pdf Download PDF View all Whitepapers