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FactSet ’ s Portware
FactSet ’ s execution management system , Portware Enterprise , is created to be adaptable to the workflows and requirements of complex buy-side trading operations . Contextually , Appital Insights - which went live in September 2023 - became fully integrated with FactSet ’ s Portware EMS earlier this year , enabling the latter ’ s asset management clients to access Appital Insights liquidity easily within their EMS . Portware is continuously enhancing its user experience , improving workflows , automation , access to liquidity and integration with third-party technologies . The system ’ s architecture facilitates integration with one or more OMS platforms or points of order origination , eliminating the need for any manual re-keying of trade data and reducing operational risk . Portware received 23 responses from its buy-side clients in this year ’ s survey , up from 19 that took part in 2023 , yet still below the vendor ’ s 2022 response rate of 39 .
Portware recorded an average score of 5.68 this year , down just one basis point from its score in 2023 , but 23 basis points below the 2024 overall survey average of 5.91 . Despite this , Portware did outperform the category average in two key areas :
breadth of broker algorithms (+ 0.28 ) and latency (+ 0.06 ).
When it comes to year-over-year performance , Portware experienced increases in several key functional areas assessed in this year ’ s survey including latency (+ 0.33 ), breadth of asset class coverage (+ 0.31 ), handling of new versions / updates (+ 0.29 ), ease of integration to internal systems (+ 0.24 ) and product development (+ 0.08 ).
A majority ( 65 %) of FactSet ’ s clients responding to the survey were with firms managing more than $ 50 billion in assets . When it came to regional distribution however , each major region was well represented with 43 % from Europe , 35 % from APAC and the remaining 22 % from North America . Regarding additional capabilities desired by buyside clients responding to FactSet ’ s Portware , respondent ’ s requested better connectivity , enhanced TCA functionality , data quality checks and data cost transparency , improved asset class coverage , improved integration to data sources and external systems as well as one request for the pooling of buy-side innovations and workflows being used across the Portware community .
FACTSET ’ S PORTWARE RATINGS FOR EMS PERFORMANCE
Reliability and availability |
Latency |
Client service personnel |
Ease-ofuse |
Handling of new versions / releases |
Breadth of broker algorithms |
Timeliness of updates for broker changes |
FIX capabilities |
5.98 6.18 5.81 5.31 5.40 6.33 5.60 6.10
Breadth of asset class coverage |
Breadth of direct connections to venues |
Product development |
Ease of integration to internal systems |
Overall cost of operation |
Average score |
5.72 5.87 5.41 5.19 4.99 5.68
KEY STATS Category Outperformer : X2
6.33
Highest score ( breadth of broker algorithms )
4.99
Lowest score ( overall cost of operation )
+ 0.33
Most improved ( latency )
-0.47
Least improved ( overall cost of operation )
88 // TheTRADE // Q3 2024