Portware Taps Chris Sorensen as its FX Product Manager

Portware has strengthened its foreign exchange (FX) unit with the appointment of Chris Sorensen, who joins the group as its newest FX Product Manager with immediate effect, according to a Portware statement.

Portware is a multi-asset trade automation solutions provider utilized by asset management in North America, Asia and Europe – the group utilizes artificial intelligence as well as a variety of products, services and solutions.

In his new role, Mr. Sorensen will help steer Portware’s product innovation and growth, with a specific focus on the FX space. This will include the development of the group’s Execution Execution Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Execution is the process during which a client submits an order to the brokerage, which consequently executes it resulting in an open position in a given asset. The execution of the order occurs only when it is filled. There is typically a time delay between the placement of the order and the execution which is called latency.In the retail FX space, reliable brokers always strive to deliver best execution to their clients in order to maintain a solid business relationship with them. This is a co Read this Term and automation tools, catering specifically to global asset management firms.

Last September, FactSet Research Systems Inc. (NYSE:FDS) acquired the issued and outstanding membership interests of Portware for a sum of $265 million. Following the appointment, Mr. Sorensen will be based in FactSet’s Boston office where he will partner with the existing Portware team.

Prior to joining Portware, Mr. Sorensen served as the Global Head of Strategic Alliances and Technical Account Management at FX Connect. He has also held senior level roles at State Street as its Vice President, having held the position for nearly a decade, according to information made public on his Linkedin profile.

According to Alfred Eskandar, Chief Executive Officer (CEO) of Portware, in a recent statement on the appointment: “Hiring Chris Sorensen is a testament to Portware’s continued ability to attract both premier Buy-Side Buy-Side The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim The buy-side is comprised of firms in the financial industry that purchase securities and are accompanied by account investment managers, pension funds, and hedge funds.The buy-side is composed of those that buy and invest large sums of securities with the intention of generating a lucrative return or have their funds managed. The Buy-Side ExplainedIn terms of Wall Street, the buy-side includes investment institutions that purchase securities, stocks, or other financial instruments with the aim Read this Term clients and top industry talent. Chris’s appointment demonstrates Portware and FactSet's continued commitment to building smart automation across all asset classes for the buy side, and we continue to build on our momentum by expanding our FX team with strategic hires on both the engineering and business sides.”