ACMA
In the 1990s, first generation Direct Market Access software platforms were developed with the tools of the day; tightly coupled models based on Unix, C and C++. These models were LAN based, a limitation that restricted the ability to trade equities, and they were developed with the expressed needs of the retail trader in mind. Determined to develop a platform that brings the value of direct market access technology to all segments of the securities industry, TradePortal chairman and CEO David Smithey enlisted his development team to bridge the technology gap between retail and institutional.

Driven by the goal to offer direct market access for the global economy, and undaunted by the lack of enabling technologies available at the time, Smithey and team took a big risk and became an early adopter of the then unproven Microsoft platform. They developed a wide-area-network (WAN) based application, and engineered the software using standards such as XML and COM for a loosely coupled, highly scalable system that could incorporate equities, options, futures and other new requirements that came down the road.

The result is “ACMA,” which stands for Architecture, built on one Code base that serves all Markets, Anytime/anywhere.

TradePortal Platform Benefits
Convenience of a single liquidity access point
Often, a trading desk is cluttered with one or more data terminals and one or more order-entry terminals. TradePortal centralizes data, order entry, risk management and portfolio management tools eliminating the need for multiple terminals. The software is capable of integrating with multiple liquidity sources, offering a single source for access to multiple ECNs, exchanges and broker/dealers.

Improves efficiency
Electronic trading with TradePortal reduces errors by removing manual steps in the execution and reporting of trades. Errors commonly occur when orders are manually reentered into different, non-integrated order management, portfolio and reporting systems. TradePortal automates the order flow process eliminating redundant entry.

The platform is an ideal starting point for straight through processing, and therefore substantially streamlines business workflow and operations management – making TradePortal a must have for firms intending to comply with the SEC’s upcoming T+1 straight through processing mandate.

TradePortal can transparently integrate with a Prime Broker or client’s existing portfolio and management systems.

Reduces costs
Efficient business processes result in lower operating costs. TradePortal simplifies the equities trading workflow and enables traders to execute at the best prices available and minimize costly error expenses.

TradePortal helps professional traders reduce market impact be reaching liquidity at the best prices and available destinations. Disclosure of trading intentions can be obfuscated by entering trades as an anonymous party (either as an ECN or using the new NASDAQ SuperMontage anonymous order feature), by distributing large orders between multiple targets, or entering reserve orders that only disclose a portion of total order quantity.

T+1 compliant
The SEC and SIA have agreed that the securities industry must move away from sequential processing and move toward a more streamlined, automated system for clearing and settlement of trades. The current system of processing is known as “T+3,” as it takes three days from when the trade is made until it is cleared and settled. The move toward next day settlement (T+1) will require more automated processing, less manual intervention and redundant data entry.

The TradePortal platform facilitates prompt and accurate reporting of all trade data to clearing and settlement entities, making TradePortal an ideal front-end for buy-side trading firms.

TradePortal’s truly integrated functionality
TradePortal provides a unified view of the equities market landscape
The TradePortal platform integrates decision support, order entry, portfolio management, and news in one comprehensive system, eliminating the need for multiple terminals. The software is compatible with leading data vendors and offers sophisticated market analytics in addition to real-time quotes and ticks. Analytics include, advanced charting with studies, a tabular market view, and a news browser providing immediate market wide or company specific news alerts.

TradePortal’s decision support tools provide the trader with a view of the US equities and options markets analogous to a fighter pilot’s Heads-Up-Display – aiding rapid, informed evaluation of conditions.

Superior order entry and management system
TradePortal seamlessly integrates execution routing with ECNs, ATSs, exchanges and market makers, providing lightning fast trade execution and order updates. The system will soon allow all order types currently supported by a growing number of available ECNs.

Integrates front to back automatically
The TradePortal application links directly with back office processes and order management systems. At the beginning of the day, the application uploads account positions. All trades made on the TradePortal platform are reported to the portfolio management system, the order management system, the Prime Broker, and the Clearing Agent. Away trade order entry provides an easy method to report and manage trades made outside of the TradePortal application. This comprehensive front to back integration allows for account administrators, Prime Brokers, and Clearing Agents to adjust limits and controls on the fly.

Integrates from top to bottom
TradePortal allows team members using the platform to coordinate and monitor all account activities. Supervisory capabilities assure adherence to trading limits and compliance issues, while a robust set of permissions set limits and controls by security and globally by user and/or firm. Users are provided with real-time tick-by-tick value calculations, order status, trade-by-trade information, and average prices, allowing for up to the second risk management and strategy assessment.