FactSet’s Portware and Jefferies First to Launch IntelligentCross JumpStart, Linking Buy-Side EMS and U.S.’ Top ATS by Volumeⁱ
FactSet (NYSE:FDS) has announced the integration of IntelligentCross' JumpStart functionality into its Portware execution management system (EMS), becoming the first to offer direct buy-side integration. Through collaboration with Jefferies and IntelligentCross (the leading U.S. equities ATS by volume), this integration enables institutional traders to directly access Jefferies' algorithmic liquidity.
The new functionality, developed with input from Harris | Oakmark, leverages artificial intelligence to enhance order matching and improve price stability in US equities. The system aims to minimize market impact and adverse selection risk while preventing information leakage through purpose-built hosted environments.
FactSet (NYSE:FDS) ha annunciato l'integrazione della funzionalità JumpStart di IntelligentCross nel suo sistema di gestione delle esecuzioni Portware EMS, diventando i primi a offrire un'integrazione diretta per il buy-side. Grazie alla collaborazione con Jefferies e IntelligentCross (l’ATS azionario statunitense leader per volume), questa integrazione permette agli operatori istituzionali di accedere direttamente alla liquidità algoritmica di Jefferies.
La nuova funzionalità, sviluppata con l’apporto di Harris | Oakmark, sfrutta l’intelligenza artificiale per migliorare l’abbinamento degli ordini e la stabilità dei prezzi nelle azioni statunitensi. Il sistema punta a minimizzare l’impatto sul mercato e il rischio di selezione avversa, evitando al contempo la fuoriuscita di informazioni attraverso ambienti ospitati appositamente progettati.
FactSet (NYSE:FDS) ha anunciado la integración de la funcionalidad JumpStart de IntelligentCross en su sistema de gestión de ejecución Portware EMS, convirtiéndose en el primero en ofrecer una integración directa para el buy-side. Mediante la colaboración con Jefferies y IntelligentCross (el ATS de acciones estadounidense líder por volumen), esta integración permite a los operadores institucionales acceder directamente a la liquidez algorítmica de Jefferies.
La nueva funcionalidad, desarrollada con aportes de Harris | Oakmark, aprovecha la inteligencia artificial para mejorar la coincidencia de órdenes y la estabilidad de precios en las acciones de EE. UU. El sistema busca minimizar el impacto en el mercado y el riesgo de selección adversa, mientras evita la filtración de información a través de entornos alojados específicamente diseñados.
FactSet (NYSE:FDS)가 IntelligentCross의 JumpStart 기능을 Portware 실행 관리 시스템(EMS)에 도입했다고 발표했습니다. 이는 직접적인 Buy-Side 통합을 제공하는 최초의 사례입니다. Jefferies 및 IntelligentCross(거래량 기준으로 미국 주식 ATS를 선두하는 곳)와의 협업을 통해 이 통합은 기관 트레이더가 Jefferies의 알고리즘 유동성에 직접 접근할 수 있도록 합니다.
새로운 기능은 Harris | Oakmark의 의견을 반영하여 개발되었으며, 인공지능을 활용해 주문 매칭을 개선하고 미국 주식의 가격 안정성을 높입니다. 시스템은 시장 영향과 불리한 선택 위험을 최소화하고, 특별히 설계된 호스팅 환경을 통해 정보 leaked를 방지하는 것을 목표로 합니다.
FactSet (NYSE:FDS) a annoncé l’intégration de la fonctionnalité JumpStart d’IntelligentCross dans son système de gestion d’exécution Portware EMS, devenant le premier à proposer une intégration directe buy-side. Grâce à la collaboration avec Jefferies et IntelligentCross (le ATS américain d’actions par volume), cette intégration permet aux opérateurs institutionnels d’accéder directement à la liquidité algorithmique de Jefferies.
La nouvelle fonctionnalité, développée avec les retours de Harris | Oakmark, exploite l’intelligence artificielle pour améliorer l’appariement des ordres et la stabilité des prix des actions américaines. Le système vise à minimiser l’impact sur le marché et le risque de sélection adverse tout en prévenant les fuites d’informations via des environnements hébergés conçus spécifiquement.
FactSet (NYSE:FDS) hat die Integration der JumpStart-Funktionalität von IntelligentCross in sein Portware-Execution-Management-System (EMS) angekündigt und ist damit der Erste, der eine direkte Buy-Side-Integration anbietet. Durch die Zusammenarbeit mit Jefferies und IntelligentCross (dem führenden US-Aktien-ATS nach Volumen) ermöglicht diese Integration institutionellen Händlern direkten Zugriff auf Jefferies’ algorithmische Liquidität.
Die neue Funktionalität, entwickelt mit dem Input von Harris | Oakmark, nutzt künstliche Intelligenz, um das Order-Matching zu verbessern und die Preisstabilität bei US-Aktien zu erhöhen. Ziel des Systems ist es, Marktimplikationen und das Risiko der Informationsauswahl zu minimieren und gleichzeitig Informationsleckagen durch eigens dafür entwickelte gehostete Umgebungen zu verhindern.
أعلنت FactSet (بورصة نيويورك: FDS) عن دمج وظيفة JumpStart من IntelligentCross في نظام Portware لإدارة التنفيذ EMS، لتصبح الأول في توفير تكامل مباشر للجانب الشرائي. من خلال التعاون مع Jefferies و IntelligentCross (أكبر ATS للأسهم الأمريكية من حيث الحجم)، يتيح هذا الدمج للمتداولين المؤسسيين الوصول مباشرة إلى السيولة الخوارزمية لـ Jefferies.
تم تطوير الوظيفة الجديدة بمشاركة Harris | Oakmark، وتستخدم الذكاء الاصطناعي لتحسين مطابقة الأوامر وتعزيز استقرار الأسعار في أسهم الولايات المتحدة. يهدف النظام إلى تقليل التأثير في السوق ومخاطر الاختيار غير المناسب، مع منع تسرب المعلومات عبر بيئات مضيفة مصممة خصيصاً.
FactSet（NYSE:FDS）宣布将 IntelligentCross 的 JumpStart 功能整合到其 Portware 执行管理系统（EMS），成为首个提供直接买方整合的提供方。通过与 Jefferies 及 IntelligentCross（美国股票 ATS 中成交量领先者）的合作，该整合使机构交易者能够直接访问 Jefferies 的算法流动性。
新功能是在 Harris | Oakmark 的反馈基础上开发的，利用人工智能来提升订单匹配并提高美股价格稳定性。系统旨在在最小化市场冲击和对选取风险的同时，通过专门构建的托管环境防止信息泄露。
- First-mover advantage in offering direct buy-side integration with IntelligentCross JumpStart
- Partnership with leading firms including Jefferies and top U.S. equities ATS
- Enhanced trading capabilities with AI-powered order matching and improved price stability
- Reduced information leakage and market impact risks for institutional traders
- None.
Insights
FactSet's integration of IntelligentCross JumpStart into Portware EMS creates significant competitive advantage in institutional trading technology.
This strategic integration represents a meaningful advancement in buy-side trading technology. By becoming the first to integrate IntelligentCross' JumpStart functionality directly into their Portware EMS, FactSet has established an important competitive differentiator in the crowded execution management system landscape.
The technical integration solves a crucial market structure challenge: connecting institutional traders directly to broker algorithmic liquidity while minimizing information leakage. This addresses one of the most persistent problems in electronic trading – how to access quality liquidity without signaling trading intentions to the market.
What makes this development particularly notable is the collaboration between three key market participants: FactSet (technology provider), IntelligentCross (the leading ATS by volume), and Jefferies (liquidity provider). The involvement of Harris | Oakmark as both development partner and initial user adds credibility to the solution's practical utility.
The underlying technology leverages artificial intelligence for order matching and improved price stability – representing the ongoing trend of AI application in trading infrastructure. For buy-side institutions, this means more precise control over order execution, potentially reducing market impact costs and improving execution quality.
From a competitive standpoint, this positions FactSet advantageously against other EMS providers like Charles River, Bloomberg, and Virtu Triton. The first-mover advantage in integrating with the top ATS by volume could drive increased adoption of Portware among institutional traders seeking enhanced liquidity access.
While immediate revenue impact may be modest, this enhancement strengthens FactSet's value proposition in the institutional trading technology space and demonstrates their commitment to innovation in execution workflows.
IntelligentCross’ JumpStart functionality is now available within FactSet’s Portware EMS, empowering the buy-side to directly access brokers’ low-touch (algo) liquidity
NORWALK, Conn., Sept. 25, 2025 (GLOBE NEWSWIRE) -- FactSet (NYSE: FDS | NASDAQ: FDS), a global financial digital platform and enterprise solutions provider, today announced the general availability of IntelligentCross’ JumpStart functionality within FactSet’s Portware execution management system (EMS), making FactSet the first among its competitor set to offer a direct integration from the buy-side. Portware users now have direct access to Jefferies’ (NYSE: JEF) low-touch (algorithmic) liquidity.
This integration was made possible through FactSet’s collaboration with IntelligentCross, the number one U.S. equities ATS by volumei—and Jefferies, one of the world’s leading full-service investment banking and capital markets firms.
“We are proud to have collaborated with the creators of IntelligentCross, Jefferies, and longtime FactSet client Harris | Oakmark to bring this new functionality to FactSet’s Portware EMS,” said Rob Robie, Executive Vice President and Head of Institutional Buy Side at FactSet. “Institutional traders now have more efficient ways to locate high-quality liquidity without compromising on signaling risks. By embedding IntelligentCross JumpStart directly into our offering, we’re giving buyside clients a powerful new tool to trade smarter and with more confidence.”
As equity trading becomes increasingly focused on meeting the needs of the buy-side through innovation, IntelligentCross ATS leverages artificial intelligence to enhance order matching and improve price stability in US equities, helping to minimize market impact and the risk of adverse selection.
IntelligentCross’ new JumpStart technology, available via FactSet’s Portware EMS, allows buy-side traders to directly choose, access, and interact with the liquidity they want with minimal information leakage. Their orders interact in purpose-built hosted environments on IntelligentCross ATS that connect their trading interest with orders being executed through specific agency brokers’ algos. This model preserves confidentiality and prevents information leakage for both parties.
Longtime FactSet client Harris | Oakmark, a leading investment management firm known for its long-term and value-oriented approach to investing, played an important role in providing user insights and testing of this innovative workflow solution during the development process, and Harris | Oakmark’s institutional investment professionals are the debut users of the new offering in full production.
“JumpStart is about solving real trading problems,” said Jason Siegendorf, Senior Director, Head of Trading Analytics at Harris | Oakmark. “This isn't an incremental upgrade—it's a meaningful evolution in the kind of liquidity we can interact with. JumpStart lets us precisely decide how, when, and with whom our orders interact. To us, this is trading as it should be: efficient, deliberate, and fully aligned with our objectives on behalf of our clients and shareholders.”
For more information about FactSet’s Portware EMS, please visit https://www.factset.com/marketplace/catalog/product/portware-factsets-enterprise-trading-solution.
About FactSet
FactSet (NYSE:FDS | NASDAQ:FDS) supercharges financial intelligence, offering enterprise data and information solutions that power our clients to maximize their potential. Our cutting-edge digital platform seamlessly integrates proprietary financial data, client datasets, third-party sources, and flexible technology to deliver tailored solutions across the buy-side, sell-side, wealth management, private equity, and corporate sectors. With over 47 years of expertise, a presence in 20 countries, and extensive multi-asset class coverage, we leverage advanced data connectivity alongside AI and next-generation tools to streamline workflows, drive productivity, and enable smarter, faster decision-making. Serving approximately 9,000 global clients and over 237,000 individual users, FactSet is a member of the S&P 500 dedicated to innovation and long-term client success. Learn more at www.factset.com and follow us on X and LinkedIn.
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i IntelligentCross is the #1 U.S. ATS by volume according to FINRA’s Weekly ATS Reports as of 08/18/2025
FAQ
What is the new JumpStart functionality that FactSet integrated into Portware EMS?
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