Dilemma: A small private institution wants to develop an algorithmic trading system. They want to minimize lead time to develop the algo, but also want to minimize start up costs. The institution has one programmer in house but would like to use an algo platform to start with so they don't spent lots of lead time "reinventing the wheel". The algo will have to be able to handle high volume. The institution also wants the flexibility to choose the brokerage firm and clearing house used to handle the trades. In researching this, it seems like the institutional-quality algo platforms are products by Portware, FlexTrade, and Progress' Apama. When these platforms are described as "broker-neutral", does it mean that customers choose who handles and clears their orders, rather than the software tying the customer to having to use a specific broker and/or clearing firm? I know these platforms can be basic and very customizable by the customers, or customized up front by the vendors. Would getting a basic platform from one of these vendors be able to fulfill this institution's needs, and if so, about how much would it cost to purchase it? The Portware, FlexTrade, and Apama sites don't really give any pricing info. It seems like these are the main players for the non-retail customer. Have I missed any others that might be able to do the job?