Trading Volumes Rise 120%
Hong Kong – 14 February 2011: Tora Holdings, Asia’s leading provider of advanced trading technology and financial services, has announced that TORA Crosspoint, the company’s off-exchange liquidity venue, posted record volumes for the month of January. Volumes traded in the liquidity venue jumped 120% over the previous peak in December 2010.
TORA Crosspoint, which launched for Japan-listed equities in February 2010, is an off-exchange liquidity venue comprised of Tora’s substantial internal flow and the aggregation of flow from multiple venues in Asia. This includes Credit Suisse’s Crossfinder, Bank of America Merrill Lynch’s MLXN, Japannext, Kabu.com, Instinet and Chi-X. Additional brokers are expected to join TORA Crosspoint in 2011.
“TORA Crosspoint has seen a significant uptick in volumes at the start of 2011, which reflects the increased liquidity in the pool, together with demonstrated cost savings, averaging seven basis points,” said Robert Dykes, CEO of Tora. “We view the record numbers as a measure of TORA Crosspoint’s success in delivering seamless liquidity to the trading community.”
TORA Crosspoint leverages internal liquidity traded by Tora clients, which accounts for more than 5% of the total trading volume on the Tokyo Stock Exchange, according to the company’s data. During January 2011, TORA Crosspoint offered, on average, more than $1.2 billion of daily liquidity in over 1,000 individual equities.
“TORA Crosspoint has proven to be a tremendous success since launching as it provides a single point of access to liquidity from multiple venues, and operates in parallel with the trader’s everyday order flow, eliminating the need to manually post orders. These are two key points which continue to resonate with traders in Asia,” Robert Dykes added.
TORA Crosspoint currently offers Japan-listed securities. Hong Kong and other Asian markets will be added later in the year.
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, New York, Los Angeles and San Francisco. Additional information is available at www.stage.toratrading.tw.
TORA Crosspoint is offered to institutional investors only and is not available in all geographic areas. No offering or solicitation is made of TORA Crosspoint in jurisdictions where the offering, solicitation or operation thereof is prohibited by law.
TORA Crosspoint is provided by Tora Trading Services Ltd. (Hong Kong). Tora Trading Services Ltd. is regulated by the Hong Kong Securities and Futures Commission as a licensed dealer and a provider of automated trading services pursuant to the Securities and Futures Ordinance, and is an Exchange Participant of the Stock Exchange of Hong Kong.
Tora Trading Services, TORA, TORA Crosspoint and the Tora logo are trademarks or registered trademarks of Tora Holdings, Inc. in the United States and other countries. All other trademarks are the property of their respective owners.