Tokyo – 15 October 2013 – TORA, a leading provider of advanced trading technology and financial services, has announced the introduction of a solution for the buy-side community to help comply with the conditional Uptick Rule, introduced as part of the revisions to the short selling regulations in Japan starting 5 November.
TORA OEMS enables buy-side clients to more easily adapt to the Financial Services Agency’s trigger method for the short sale uptick rule by providing the relevant information when and where it is most needed; clients can track the trigger status and trigger price of instruments in real-time throughout the order lifecycle. In addition, the TORA OEMS compliance engine has been enhanced to reflect the revised short sell regulations and thereby helps to prevent trading errors .
The revised Short Selling Regulation from the Financial Services Agency in Japan becomes effective on 5 November, 2013, and expands the scope of the rules to cover short sales made on Proprietary Trading Systems. Furthermore, the Uptick Rule for short sales will be activated only for instruments that have declined by 10% or more from the previous day’s closing price on the instrument’s principal exchange. Details of the revised Short Selling Regulation are outlined in the FSA announcement on 1 April, 2013. For further information about the rules, please visit www.fsa.go.jp, or contact your Tora representative for a detailed description of the changes and new functionality in TORA OEMS.
TORA is a leading provider of advanced trading technology and financial services. TORA’s unrivaled 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, Romania, New York, Los Angeles and San Francisco. www.stage.toratrading.tw.
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