Provides price improvement and quicker execution for buy side traders
Tokyo – 12 January 2009 (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 Merrill Lynch’s expanded MLXN liquidity pool which recently added access to liquidity for Hong Kong and Japan.
“We are delighted that buy-side firms who use TORA Compass can now take advantage of Merrill Lynch’s internal liquidity when trading in Hong Kong and Japan,” said Mark Wheatley, Managing Director at Merrill Lynch. “Typically, trades that execute in MLXN benefit from the tighter spreads that enable price improvement from the underlying exchange, quicker execution, and minimized market impact – benefits that can now be enjoyed by all TORA Compass clients. We are seeing a continual increase in both the number of clients utilizing electronic trading, and the volume of orders executed electronically. Users are becoming more sophisticated by the day, and are very understanding of all the benefits alternative liquidity pools bring them, especially ones easily accessed as part of their usual trading patterns.”
MXLN is now available in TORA Compass Version 3.0. It is fully automated and completely anonymous. The MLXN order book is not visible to any person or system and no indications of interest are published internally or externally.
“Off-exchange liquidity is becoming increasingly important to our clients’ ability to achieve superior results from their trading strategies,” commented Robert Dykes, CEO of Tora. “We are pleased to be working with Merrill Lynch to make the MLXN liquidity pool available to the growing base of TORA Compass clients.”
Tora is the recognized leader in electronic trading systems and access to liquidity focused on Asia. The TORA Compass trading platform is the most comprehensive multi-broker, multi-product trading platform with electronic access to more than 75 global and regional brokers, 24 markets in 14 countries and over 10 off-exchange liquidity venues as well as over 150 algorithmic trading strategies. TORA Compass offers a full suite of trade execution capabilities to trade equities, stock futures and options, index futures and options, warrants, convertible bonds, swaps and other synthetics, all on one platform. Over 25% of all electronic trading on the Tokyo Stock Exchange is processed each month through TORA Compass. TORA Compass utilizes state-of-the-art infrastructure to provide low latency, 99.99% up time and high reliability across multiple markets. Tora Compass also includes extensive OMS functionality, including separable parent/child orders, real-time intraday P&L, staging capabilities and post-trade analytics. Tora’s independent algorithms and off-exchange liquidity products are used by buy-side firms to implement complex trading strategies, achieving fast execution and best price. TORA Compass is provided in an application service provider (ASP) model, and requires no IT infrastructure or staff at the client site. Tora has over 100 employees dedicated to Asia, and maintains sales and support offices in Tokyo, Hong Kong, Singapore, New York and San Francisco. For more information, please visit www.stage.toratrading.tw.
Contact: Maryam Aflak
+1 415 546 2266
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