Portware Strategy Server is a powerful algorithmic engine designed specifically for high volume, high-frequency automated order management.  Strategy Server allows users to create complex trading strategies and algorithms in a dedicated, highly secure trading environment.  It can be used independently as a stand-alone, black box trading solution, or in tandem with Portware Enterprise to address specific algorithmic development and trading requirements.  In either case, Strategy Server can process a massive number of orders and their associated message traffic, routing orders to any global market destination via integrated, pre-certified FIX connections.

HIGH PERFORMANCE ALGORITHMIC ENGINE

COMPLEX EVENT PROCESSING (CEP)
There are numerous event processing engines on the market today that promise real-time data analysis in one form or another. Yet while the results of various messages-per-second “bake-off” analyses make for interesting academic discussion, none of these engines offer the full trading solution that Strategy Server delivers. Indeed, beyond basic event processing, these engines offer little else. Portware Strategy Server, on the other hand, combines hyper-fast CEP with the complete set of trading-specific functionality.

ORDER ROUTING
Portware Strategy Server provides out of the box, pre-certified connections to over 300 global market destinations, including brokers, algorithmic strategies, ATS’s, exchanges, and ECNs. Whether you trade Equities, Foreign Exchange, Futures or Options, Strategy Server provides a comprehensive, fully integrated solution for all your routing needs.

ANALYSIS AND EXECUTION
Strategy Server’s flexible, open architecture allows a firm to easily deploy, run and back test custom algorithmic strategies. Users can take advantage of Strategy Server’s API to implement advanced, proprietary algorithms for multiple assets, either independently or as part of complex multi-asset trading strategies. And because Strategy Server operates as a separate trading environment, users can update algorithms in Strategy Server on the fly without compromising the stability of their overall trading system. When used in conjunction with client workstations such as those deployed as part of a Portware Enterprise installation, users can route orders from their desktops directly to proprietary and third-party algorithms deployed in Strategy Server.

STATE/POSITION MANAGEMENT
Unlike other basic CEPs, Portware Strategy Server offers full state and position management. Why is this important? Portware maintains a complete view of the lifecycle of a particular trade. Is it a single ticket entry? Is it a “child order,” a small part of a larger order that might itself be part of a larger basket level strategy? Has the order been accepted? If so, is it subject to cancel/replace? Was there already a partial fill that would affect one’s position? How is such a situation handled? All of these issues can affect how an order should be handled. Furthermore, the messaging logic that brokers and other market centers use to convey this execution information is far from consistent. As such, users of basic CEPs would have to spend a tremendous amount of time and energy ensuring that their system can handle and normalize these various messaging protocols. With Portware, however, state and position management is an integrated component of Strategy Server.

MARKET DATA
Strategy Server can be easily integrated with any market data feed. Unlike the raft of processing engines on the market, Portware Strategy Server comes equipped with pre-built, robust market data handlers. In addition, the product supports full load balancing of multiple feeds as well as development, customization and normalization of propriety feeds which can be combined with 3rd-party feeds and segmented per asset-class or any other parameter. Strategy Server users can also employ Portware’s back-testing suite, which can play back years of historical market data, facilitating an algorithmic development process in which users can move efficiently from testing to production. Additionally, a customizable simulator allows clients to develop their own proprietary test cases.