Portware Extends Algorithmic Trading to Foreign Exchange via Hotspot FXi

Portware Extends Algorithmic Trading to Foreign Exchange via Hotspot FXi

NEW YORK, Jan. 31 /PRNewswire/ -- Portware LLC today announced that it has implemented access to Hotspot FXi, the premier multibank foreign exchange marketplace, via Portware Professional, the industry's leading trade and execution management system. The integration allows Portware users to directly place FX orders into the Hotspot FXi marketplace via the user interface and incorporate FX trades into automated trading strategies executed across the global equities, futures, and options markets.

Portware and Hotspot FXi's leading edge systems are linked through a FIX gateway, providing users with instantaneous FX trading capability and live, streaming, executable market data supplied by Hotspot FXi's network of top- rated bank market makers and institutional customers.

"Portware's integration with Hotspot FXi adds a significant source of FX liquidity for our users," said Eric Goldberg, Portware CEO. "Not only can customers trade FX from a multi-asset platform, they can also execute real- time automated strategies incorporating other asset classes. The ability to apply a strategy across a full portfolio provides our clients with an unprecedented level of control and a virtually limitless pool of trading opportunities."

"Hotspot FXi has built a robust marketplace which offers traders anonymous, instantaneous access to FX trading and the addition of Portware's algorithmic trading community will provide a new source of trading and customer liquidity to our marketplace," said John H. Eley, President and CEO, Hotspot FX, Inc. "We are excited to work with Portware to bridge their system and its premier clientele with ours."

Portware Professional is the global securities industry's premier trade management system for automated and portfolio trading of global equities, futures, options and FX. Portware Professional is a real-time, FIX-compliant, broker-neutral system currently in use at more than 100 buy-side, sell-side and hedge fund firms for basket, single order, and automated quantitative trading.

Hotspot FXi is the leading FX marketplace. Its exchange/ECN marketplace structure provides clients with full depth-of-market view, centralized price discovery, bid/offer, passive dealing and instantaneous trade execution capabilities on live, executable prices. In 2004, passive trading by clients, including client-to-client matching, accounted for nearly half of all trades in the Hotspot FXi marketplace, powering its 150 per cent annual volume growth.

About Portware

Portware is committed to advancing trade automation to the next level. Moving beyond simple order routing and electronic execution, Portware develops and markets fully-customizable, portfolio-based trading systems with a powerful front end to provide investment managers, hedge funds, and broker/dealers with tools to easily create and conduct advanced, multi-asset, automated trading strategies, including VWAP, Pairs and Arbitrage. On-the-fly customization lets Portware users create, implement and change trading strategies as needed. Portware's inherent trading flexibility, real-time transaction cost analysis and risk management allows users to maintain full control over their trading operations while enhancing trade efficiency and decreasing market impact. Portware is used by more than 100 buy-side, sell- side and hedge fund firms worldwide. For more information, visit http://www.portware.com/.

About Hotspot FX(SM)

Hotspot FX, Inc., which marks its fifth anniversary in 2005, operates the two leading spot FX marketplaces for institutional and retail market participants respectively. Both marketplaces provide anonymous, instantaneous, direct-access trading on live, executable, streaming prices supplied by leading foreign exchange banks and financial institutions. Trades executed on Hotspot FXi, Hotspot FX's institutional marketplace, are cleared through a network of top-rated clearing banks and prime brokers. Trades executed on Hotspot FX, the company's retail platform, are cleared through its regulated FCM. Hotspot FX provides connectivity to trade and order management systems, market data vendors and other platforms via its LiveLinksm proprietary API, which supports the firm's FIX gateway as well as other connectivity protocols. Hotspot FX is headquartered in Watchung, New Jersey, a suburb of New York City, with offices in Boston, London, Singapore, and Beijing.

Hotspot FX is a registered service mark and LiveLink a service mark of Hotspot FX, Inc.


Source: Portware LLC

CONTACT: Peter Burton of Hotspot FX, Inc., +1-908-322-2914,
pburton@hotspotfx.com; Jed Hamilton of Portware LLC, +1-646-292-9808,
jhamilton@portware.com

Web site: http://www.portware.com/


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