New venue provides anonymous, block sale crossing network that eliminates leakage and reduces potential for negative market impact
Hong Kong – 17 November 2008 (BUSINESS WIRE) – Tora (www.stage.toratrading.tw), the leading electronic trading platform and liquidity provider for Asia, announced today the availability of direct access via TORA Compass to BlocSec, the first Asian dark pool to cater to both the buy side and the sell side. BlocSec was launched by CLSA Asia-Pacific Markets earlier this year, and is now offering block trading services in Hong Kong in addition to those already available in Singapore and Japan.
“Dark pools have become an essential part of trading strategy in the US and Europe and we are excited to be one of the first dark pools focusing on block sized transactions in Asia,” said BlocSec CEO Ned Phillips. “We are pleased that Tora’s extensive set of buy-side clients trading Asia can seamlessly execute their trades on BlocSec and enjoy high speed order matching and execution, directly accessible via TORA Compass.”
“Off-exchange liquidity is becoming an increasingly important component of a successful trading strategy in many Asian markets,” commented Robert Dykes, CEO of Tora. “Adding BlocSec to the existing alternative liquidity choices in TORA Compass provides a significant new capability for our buy-side clients, especially those who need to execute block trades in an efficient manner.”
Tora (www.stage.toratrading.tw) is the recognized leader in electronic trading systems and access to liquidity for Asia. The TORA Compass trading platform is the most comprehensive multi-broker electronic trading platform focused on Asia with 75 brokers, 24 markets, 10 off-exchange liquidity venues, and over 150 algorithmic trading strategies to trade equities, stock futures and options, index futures and options, warrants, convertible bonds, swaps and other synthetics, all on one platform. It also includes extensive OMS functionality, including separable parent/child orders, real-time intraday P&L, staging, and post-trade analytics. Tora’s independent algos and off-exchange liquidity products are now being used by buy-side firms to implement complex trading strategies, achieving fast execution and best price. Over US$25 billion in transactions are processed each month through TORA Compass, including over 25% of all electronic trading on the Tokyo Stock Exchange. TORA Compass is provided in an application service provider (ASP) model, and requires no IT infrastructure or staff at the customer site. TORA Compass was designed with redundant data centers in Tokyo and Hong Kong, providing 99.99% up time, low latency and high reliability across multiple markets. The platform integrates with a full complement of third-party and proprietary order management, portfolio management, risk, accounting, other back-office, and compliance systems.
BlocSec (www.blocsec.com) is the first Asia-based electronic crossing network to provide buy-side and sell-side investors access to deep pools of anonymous liquidity for exclusive execution of Asian block trades. BlocSec’s continuous, high speed order matching and execution minimizes transaction costs and eliminates information leakage into the market.
BlocSec is wholly owned by CLSA Asia-Pacific Markets and benefits from access to CLSA’s global pool of investors as well as infrastructure, credit risk and clearing and settlement services. BlocSec is located in Singapore.
Contact: Mark Belinsky
+1 650 520 9026
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