On September 25, 2025, FactSet Research Systems Inc. (NYSE: FDS | NASDAQ: FDS) announced a groundbreaking collaboration that positions it at the forefront of trading technology. The company has launched the IntelligentCross JumpStart functionality within its Portware execution management system (EMS), creating a direct link between buy-side execution and Jefferies' low-touch liquidity service. This innovative integration makes FactSet the first among its competitors to offer such a feature, revolutionizing how institutional traders access liquidity in the U.S. equities market.

2. A Strategic Partnership with IntelligentCross and Jefferies

The integration of IntelligentCross JumpStart into FactSet's Portware EMS is the result of a strategic partnership with IntelligentCross, the leading alternative trading system (ATS) in the U.S. by volume, and Jefferies, a prominent full-service investment banking and capital markets firm. This collaboration aims to enhance trading efficiency by providing institutional traders with more effective tools for liquidity access without compromising their signaling risks.

Rob Robie, Executive Vice President and Head of Institutional Buy Side at FactSet, expressed pride in this partnership, emphasizing the value it brings to institutional traders. “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,” Robie stated. “Institutional traders now have more efficient ways to locate high-quality liquidity without compromising on signaling risks."

3. Enhanced Trading Capabilities

The IntelligentCross JumpStart technology allows buy-side traders to choose and interact with desired liquidity in a highly confidential manner. This new feature minimizes information leakage by enabling orders to interact within purpose-built hosted environments on the IntelligentCross ATS, connecting trading interests with agency broker algorithms. This innovative model ensures confidentiality and mitigates the risk of adverse selection, a common concern in high-volume trading scenarios.

As the financial landscape evolves, the need for innovative solutions to meet the demands of the buy-side has intensified. IntelligentCross leverages artificial intelligence to enhance order matching and improve price stability, ultimately helping to minimize market impact.

4. Insights from Early Adopter Harris | Oakmark

Harris | Oakmark, a longstanding client of FactSet, played a crucial role in the development and testing of the JumpStart functionality. The investment management firm, renowned for its long-term and value-oriented investment philosophy, has become the first to utilize this new offering in full production.

Jason Siegendorf, Senior Director and Head of Trading Analytics at Harris | Oakmark, underscored the significance of this advancement. “JumpStart is about solving real trading problems,” he remarked. “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.”

5. Conclusion

The launch of IntelligentCross JumpStart within FactSet's Portware EMS signifies a pivotal moment in the evolution of trading technology. By integrating advanced AI capabilities and prioritizing confidentiality, FactSet is empowering institutional traders with tools to navigate the complexities of the financial markets more effectively. As the demand for innovative trading solutions continues to grow, FactSet's latest offering positions it as a leader in the financial technology space, ready to meet the challenges of tomorrow’s trading environment.

For more information about FactSet’s Portware EMS, visit the official FactSet website.

Original press release