Waters Rankings 2022: Best execution management system (EMS) provider—FactSet


The FactSet Portware execution management system (EMS) is a multi-asset trading solution that helps asset managers, hedge funds, pension funds and sovereign wealth funds manage the challenges of complexity and scale with embedded analytics, sophisticated decision support, and state-of-the-art automation. Portware is configurable to the workflow requirements of buy-side trading and is designed to handle peak volumes.

“FactSet is thrilled to be recognized by the readers of WatersTechnology for our Portware EMS. This is a testament to the investments we’ve made to continuously enhance our world-class analytical capabilities that make our clients more efficient across the entire portfolio lifecycle.”
Robert Robie, head of analytics and trading solutions, FactSet

The Solution

Scale and efficiency: Portware’s data-driven order-routing logic enables trading teams to handle higher volumes and get orders to market faster and consistently.

Data volumes and analysis: Portware aggregates and filters data from diverse sources and graphically represents the order and execution data that matters at each stage of a trade.

Secret Sauce

Portware is configured to each client’s workflow requirements and offers access to electronic liquidity for multiple asset classes. Its vendor-neutral/open architecture enables integration of proprietary and third-party data and analytics for use within its buy-side trading blotters, providing execution desks with the pre-trade insight they need.

Recent Milestones

  • Release of aggregated bond pricing data from Bloomberg, Intercontinental Exchange (Ice) and Trace
  • Enhanced liquidity discovery via integration with Neptune for streaming axes data 
  • Improved graphical reporting capabilities with flexible analysis of executions using time-series data and fill-level details 

Future Objectives

  • Continued focus on FactSet’s delivery-agnostic platform with further investment in cloud-centric access, including the migration of the Portware EMS to the Amazon Web Services (AWS) cloud
  • Expansion of the collection of critical data such as private markets, deep-sector metrics and ESG intelligence 
  • Expansion of the firm’s API offering to support clients’ growing programmatic needs


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