Portware Acquires Aritas Group

Portware, the multi-asset trading solutions provider, announced it has reached an agreement to acquire the technology and analytical assets of Aritas Group.

Terms of the deal were not disclosed.

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.

"Aritas' technology assets are highly complementary and add advanced artificial intelligence and commission optimization tools to Portware's core offerings," says Alfred Eskandar, CEO of Portware. "This is 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 continues, "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," says 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."