SOURCE: Gate Technologies
NEW YORK, NY--(Marketwire - May 18, 2011) - GATE Technologies, LLC, the first provider of an electronic transaction platform for trading global alternative assets and illiquid securities, today announced that they have integrated with Portware, the leading provider of highly integrated electronic trading solutions, to create the first electronic Indication of Interest (IOI) to standardize non-public securities for greater distribution and access. The integration will provide increased connectivity to participants, while offering an audit trail for regulators that will bring more transparency to the market.
"Engaging with Portware marks a key development in our global connectivity," said GATE CEO Vincent Molinari. "As we look to deliver increased liquidity and transparency to the trading of alternative and illiquid assets, this integration enables us to offer a whole new level of access to secondary market participants."
As a pioneer in the electronic trading of restricted stock, the GATE Pro platform employs FIX connectivity to deliver transparency, efficiency and liquidity to a traditionally opaque market. Access to Portware's network will enable dark pools to find better alpha and offer participants better distribution and increased liquidity.
"The integration with GATE illustrates Portware's ongoing commitment to offer our clients access to all pools of liquidity across asset classes," noted Eric Goldberg, CEO of Portware.
GATE brings the technological innovation, advanced investment tools and regulatory oversight from the traditional to the global emerging alternative markets. Eliminating the need for intermediaries and enabling qualified investors to source the best liquidity at the best price, GATE empowers market participants to electronically access, verify and trade restricted, illiquid and alternative assets with confidence and transparency.
About GATE US
GATE US LLC, a subsidiary of GATE Technologies, LLC, is a New York based broker-dealer that provides customers with an integrated private electronic marketplace for the primary issuance and secondary trading of restricted, illiquid and alternative assets. GATE US offers the GATE Pro platform, an automated, multi-asset class platform that combines content, settlement and clearing services, analytics, and global connectivity to enable qualified investors to research, verify and trade the most complex alternative assets with confidence. GATE gives market participants the transparency, efficiency and liquidity they need to view all market activity, ensure regulatory oversight and lower transaction times. GATE US is a member of FINRA and SIPC, and certified as an Alternative Trading System (ATS) for 144a securities.
Founded in 2000, Portware LLC is the financial industry's leading developer of broker-neutral, automated trading solutions for global equities, futures, options and FX. With offices in New York, London, Hong Kong, and Hyderabad, Portware works in partnership with its clients to create highly integrated solutions to streamline workflows and increase operational efficiencies on trading desks worldwide. Portware's flagship product, Portware Enterprise, is a fully customizable trade management and execution system for single stock, portfolio, basket, automated and algorithmic trading. Portware Enterprise has been implemented at more than 130 financial firms worldwide, including leading hedge funds, global investment management firms and sell-side program trading desks. For more information, please visit www.portware.com.