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London, 26 July, 2007 - Portware, an independent provider of global, multi-asset trading solutions, today announced that it has integrated, global investment bank, Lehman Brothers' latest dark liquidity seeking algorithms and pre-trade Transaction Cost Analysis (TCA) into the Portware trading platform. The integration has extended the bank's capabilities to provide access to innovative liquidity-seeking algorithms and offer comprehensive best execution tools to buy-side clients on the Portware execution platform.

Portware's flexible, broker-neutral trading solution is able to incorporate numerous sources of pre- and post-trade TCA and quickly go live with the latest algorithms. It has incorporated both basket and single stock pre-trade cost estimates from Lehman Brothers' analytics platform, LehmanLive and Portfolio WebBench TCA, providing users with a real-time, single view of workflow and transaction costs in order to execute trades more efficiently and improve performance.

In addition, Portware has integrated Lehman Brothers' dark liquidity offering Liquidity Cross (LX). The LX platform anonymously pools active order flow from Lehman Brothers' European equity trading channels with the investment firm's non-active inventory, providing buy-side clients with direct access to Lehman Brothers' liquidity on a continuous and anonymous basis, throughout the trading day. LX is also available as part of Lehman Brothers' algorithmic trading service, LMXSM, which seeks liquidity based upon clients' specific requirements and risk tolerances.

Adam Toms, Head of Portfolio & Electronic Sales Trading in Europe at Lehman Brothers, comments: "Portware has embedded our TCA and dark liquidity offerings direct into its trading application, allowing us to provide the latest in trading tools to our clients on the Portware platform. With the use of comprehensive analysis and dark liquidity-seeking tools the buy-side is able to improve their execution strategy and minimise market impact."

Eric Goldberg, chief executive officer, Portware, adds: " Portware's open and flexible architecture is designed to enable financial institutions to quickly take advantage of new opportunities in electronic trading. We have ensured Lehman Brothers' advanced trading tools seamlessly integrate with buy-side trading infrastructures and support complex trading strategies going forward."

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Press enquiries to:

Nicolle Farthing / Nicki Ferguson, Cre8 Results Limited
Email: portware@cre8results.com
Tel: +44 (0)20 7734 9199

About Portware
www.portware.com

Portware LLC is a leading independent provider of global, broker-neutral, multi-asset, trading systems. Portware's centralized trading environment has a flexible framework and offers a full range of components for ready-to-trade systems and customizable, enterprise solutions. Portware enables buy- and sell-side clients to create and modify trading strategies and algorithms and supports FX, single stock, portfolio, program, pairs and index trading. Portware provides advanced tools for TCA, risk management, real-time reporting, algorithms and analytics. With its open architecture Portware's users are able to implement solutions that meet their individual trading requirements and easily adapt to the rapidly evolving and increasingly regulated global marketplace. Since its launch in 2000, Portware systems have been implemented at more than 100 firms worldwide, including hedge funds, asset management firms and sell-side program trading desks.

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