CBRE Clarion Securities Migrates to Portware’s Cloud for Unrivaled Scalability, Customization and Proven Cost Reduction
Top U.S. real estate investment manager wins 2012 Best Cloud Initiative for its Portware Enterprise deployment
New York and London, December 11, 2012 — Portware, tthe leading provider of global, multi-asset trading solutions, today announced that Pennsylvania-based asset manager CBRE Clarion Securities has successfully migrated to Portware’s cloud environment. The custom implementation — for which CBRE recently won the 2012 American Financial Technology Award for “Best Cloud Initiative” — has enabled CBRE to reduce operational overhead and eliminate ongoing support costs, and has already driven a measurable increase in bottom-line performance. .
The pressures of today’s economy have driven large-scale change, M&A activity, enterprise-wide consolidation and cost-cutting initiatives across the financial services community. In late 2011, CB Richard Ellis Investors, the global investment management segment of commercial real estate services firm CBRE Group, acquired ING Clarion Real Estate Securities, a global real estate investment management business. As part of the deal, CBRE needed to determine the smartest way to marry the two firms’ infrastructures. CBRE had historically deployed Portware Enterprise in its internal data center, relying on the system to automate its traders’ complex workflows.
“We weighed a number of options, but our decision ultimately came down to the benefits of outsourcing to the Portware cloud environment for the support and high availability benefits, without having to compromise on the advanced trading technology and customization we were accustomed to with our legacy Portware Enterprise platform,” said Bob McManus, Head of Information Technology at CBRE Clarion Securities. “We also needed to support our traders in Europe and Asia, and outsourcing the system proved more economical than trying to add internal staff to cover our 24-by-6 operations.”
Portware Enterprise provides access to the widest selection of broker algorithmic strategies and global trading destinations, including all exchanges, ECNs, MTFs and crossing networks. Hosted on Thomson Reuters Elektron platform, Portware’s cloud is a fully managed, globally accessible trading solution that offers the same performance, feature set and flexibility of a locally deployed Portware system. It is fully customizable and includes pre-integrated market data from Thomson Reuters.
Portware first launched its cloud offering in June 2011, and has since made its full suite of trading solutions available via the cloud. Though firms can still deploy Portware locally if they choose, CBRE joins an expanding roster of existing and new clients alike that are attracted to the scalability, security and reduced operational overhead of Portware’s cloud model.
“We are honored that CBRE chose to reaffirm its confidence in Portware by migrating to our cloud solution, and we will continue to work closely with all of our clients to help them meet the challenges of today’s dynamic marketplace,” said Alfred Eskandar, CEO of Portware. “Our cloud solution has been a big factor in the growth we achieved this year, and we expect that momentum to continue into 2013 and beyond.”
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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. Portware’s flagship product, Portware Enterprise, is a fully customizable execution management system for single stock, portfolio, index and algorithmic trading. Portware Enterprise provides access to the widest range of global trading destinations and broker algorithmic strategies, while the system’s flexibility and open architecture allows users to easily customize Portware Enterprise to meet their specific trading and workflow integration requirements. Portware FX, the company’s award winning FX trading solution, provides a streamlined interface to bank, ECN and interdealer platform liquidity, an advanced front-end trading platform, integrated algorithms from Portware and leading FX dealers, comprehensive transaction cost analysis, and a flexible development environment for proprietary trading strategies. Portware’s trading solutions have been implemented at more than 130 financial firms worldwide, including investment managers, hedge funds and sell-side program trading desks.For more information, please visit www.portware.com.
About CBRE Clarion Securities
CBRE Clarion Securities is a registered investment advisory firm specializing in the management of global listed real estate securities for both institutional and individual investors. Headquartered near Philadelphia, Pennsylvania, the firm manages approximately $22 billion in assets and has over 80 employees located in offices in the United States, United Kingdom, Hong Kong, Japan, and Australia. For more information about CBRE Clarion Securities, please visit www.cbreclarion.com.
CBRE Clarion Securities is the listed equity management arm of CBRE Global Investors. CBRE Global Investors is a global real estate investment management firm with $90.4 billion in assets under management* as of September 30, 2012. The firm sponsors investment programs across the risk/return spectrum for investors worldwide. CBRE Global Investors is an independently operated affiliate of CBRE Group, Inc. (CBG), and harnesses the research, investment sourcing and other resources of the world’s premier, full-service commercial real estate services company for the benefit of its investors. CBRE has approximately 34,000 employees (excluding affiliates) in more than 300 offices (excluding affiliates) worldwide.
For more information about CBRE Global Investors, please visit www.cbreglobalinvestors.com.
Assets under management (AUM) refers to fair market value of real estate-related assets with respect to which CBRE Global Investors provides, on a global basis, oversight, investment management services and other advice, and which generally consist of properties and real estate-related loans; securities portfolios; and investments in operating companies, joint ventures and in private real estate funds under its fund of funds program. This AUM is intended principally to reflect the extent of CBRE Global Investors’ presence in the global real estate market, and its calculation of AUM may differ from the calculations of other asset managers.