Portware has integrated Lehman Brothers’ latest dark liquidity seeking algorithms and pre-trade transaction cost analysis (TCA) into its trading platform. The integration has extended the bank’s capabilities to provide access to liquidity-seeking algorithms and offer best execution tools to buy-side clients on the execution platform. Portware claims that its trading solution is able to incorporate numerous sources of pre- and post-trade TCA and quickly go live with the latest algorithms. It has incorporated both basket and single stock pre-trade cost estimates from Lehman Brothers’ analytics platform, LehmanLive and Portfolio WebBench TCA, providing users with a real-time, single view of workflow and transaction costs in order to execute trades more efficiently and improve performance. In addition, Portware has integrated Lehman Brothers’ dark liquidity offering Liquidity Cross (LX). The LX platform anonymously pools active order flow from Lehman Brothers’ European equity trading channels with the investment firm’s non-active inventory, providing buy-side clients with direct access to Lehman Brothers’ liquidity on a continuous and anonymous basis, throughout the trading day. LX is also available as part of Lehman Brothers’ algorithmic trading service, LMX, which seeks liquidity based upon clients’ specific requirements and risk tolerances.
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