Tokyo – 8th November 2013: INTERTRADE, a market leader in packaged systems for the securities industry and TORA, a leading provider of advanced trading technology and financial services, has announced the integration of TORA’s cutting edge smart order routing technology into INTERTRADE’s infrastructure. This will allow the INTERTRADE client base to access liquidity that up to now has not been offered on their platform.
INTERTRADE has entered into a partnership with TORA, whose technology has been adopted by asset managers throughout Asia and the world, to enable their clients to capitalize on the market structure changes in Japan.
“By collaborating with TORA we have quickly been able to launch a product into the market place that is based on proven technology. Off exchange liquidity has grown at a rapid rate over the last few years. This enables us to give our wide and loyal client base access to the liquidity in PTS and broker pools,” said Takahiro Ozaki, President of INTERTRADE. “This initiative underpins our commitment to our customers in giving them the latest technology in the marketplace.”
Liquidity in the Japanese market has become increasingly fragmented with close to 20% of all market volume now trading off-exchange on PTS’s and broker pools. This liquidity has become an important source of price improvement that cannot be ignored by those seeking best execution. TORA’s smart order routing technology will make the vast majority of this liquidity immediately available to INTERTRADE clients.
“TORA is very excited to have been part of this project, which will enable INTERTRADE clients to improve their execution quality dramatically,” noted Robert Dykes, CEO of TORA. “TORA has been present in Japan for many years and we are delighted to be working with INTERTRADE.”
INTERTRADE is a major packaged system solution provider in the Japanese front office systems market with over 40% of TSE participants using its products. INTERTRADE’s main product, the TIGER TradingSystem, is a low-latency trading system developed using INTERTRADE’s extensive experience and knowhow in the security business. The TIGER TradingSystem has extensive compliance functionality and a large client base. Recently, INTERTRADE has been actively engaged in connecting to foreign exchanges and markets to support multiple asset classes and products around the world. INTERTRADE also provides services to leading financial firms in the area of FX and PTS trading systems with the goal of providing a comprehensive solution for the financial trading business.
TORA is Asia’s leading provider of advanced trading technology and financial services. TORA’s unrivalled solutions span the entire trading process, offering a full suite of trade execution capabilities in markets across Asia, North America and Europe. TORA’s high-performance EMS/OMS has been designed from the ground up by traders, and is currently used by traders at hedge funds, long-only funds and sell-side proprietary trading desks. TORA also provides clients with access to its unique liquidity pools including Asia’s leading non-displayed matching engine. TORA’s dedicated Asia trading desk delivers to buy-side clients unmatched Asia expertise and extensive analytics focused on best execution. TORA’s extensive suite of proprietary algorithms (trading and strategy-focused) is fully customizable and broker neutral. TORA has over 175 employees dedicated to Asia, with offices in Tokyo, Hong Kong, Singapore, Sydney, and San Francisco.
Ryan Financial Communications
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