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The 2016 Trading Technology 40: Alfred Eskandar
#33 Alfred Eskandar, Chief Executive Officer, Portware


To stand out in a crowd of trading-software competitors, a company needs technology and innovation as table stakes. Portware had that in early 2012 — the New York–based company was 12 years old, and investment firms were running an aggregate $3 trillion in assets on its execution management systems. But growth had slowed, and Portware’s board, in search of new energy and ideas, hired Alfred Eskandar, a member of the founding team of buy-side trading platform Liquidnet, as CEO. Today, Portware’s managed-assets total is $10 trillion, payback on product initiatives like Alpha Vision, which introduced real-time predictive analytics to the process of optimizing execution strategy. Portware’s transformation may have only just begun, because it was acquired by financial information company FactSet Research Systems in October for $265 million in cash. With trading systems an entirely new business for FactSet, there was no consolidation: It bought Portware, its management and some 180 employees whole, and Eskandar says the resource constraints on his formerly independent operation have virtually vanished. One reason this is a good strategic fit, the 42-year-old adds, is that both companies put a premium on client service. “Support can always be improved. There is no end state,” Eskandar says, noting that FactSet’s 38 global offices and data centers are now Portware’s network. An “innovation summit” with key clients in London last fall yielded “incredibly valuable input” on R&D priorities, the CEO says. Fixed-income trading is a “shiny red ball” that everyone is chasing. But, he adds, “in this space there is such a race to deliver rather than just to innovate. That’s a huge positive for us.”
![]() 2. Richard Prager BlackRock ![]() 3. Chris Isaacson BATS Global Markets ![]() 4. Jonathan Ross KCG Holdings ![]() 5. Bradley Peterson Nasdaq |
![]() 6. Brad Levy Markit ![]() 7. Dan Keegan Citi ![]() 8. Ronald DePoalo Fidelity Institutional ![]() 9. Raj Mahajan Goldman Sachs Group ![]() 10. Ari Studnitzer CME Group |
![]() 11. Mayur Kapani Intercontinental Exchange ![]() 12. Gerald O’Connell CBOE Holdings ![]() 13. Nicholas Themelis MarketAxess Holdings ![]() 14. Gil Mandelzis EBS BrokerTec (ICAP) ![]() 15. Bill Chow and Richard Leung Hong Kong Exchanges and Clearing |
![]() 16. Rob Park IEX Group ![]() 17. Philip Weisberg Thomson Reuters ![]() 18. John Mackay (Mack) Gill MillenniumIT ![]() 19. Robert Cornish International Securities Exchange ![]() 20. Paul Hamill Citadel Securities |
![]() 21. Eric Noll Convergex ![]() 22. Tyler Moeller and Joshua Walsky Broadway Technology ![]() 23. Rishi Nangalia REDI Holdings ![]() 24. Veronica Augustsson Cinnober Financial Technology ![]() 25. Alasdair Haynes Aquis Exchange |
![]() 26. Manoj Narang Mana Partners ![]() 27. Gaurav Suri Arcesium ![]() 28. Robert Sloan S3 Partners ![]() 29. Anton Katz and Stephen Mock AQR Capital Mgmt ![]() 30. Stu Taylor Algomi |
![]() 31. D. Keith Ross Jr. PDQ Enterprises ![]() 32. Donal Byrne Corvil ![]() 33. Alfred Eskandar Portware ![]() 34. R. Cromwell Coulson OTC Markets Group ![]() 35. Masayuki Hosaka Rakuten |
![]() 36. Peter Maragos and David Karat Dash Financial ![]() 37. Amar Kuchinad Electronifie ![]() 38. Jennifer Nayar SR Labs ![]() 39. Dave Snowdon Metamako ![]() 40. Dan Raju Tradier |