New Office to Serve Growing Singapore Client Base
Singapore, August 11, 2008 (BUSINESS WIRE) – Tora Trading Services® www.stage.toratrading.tw, the leading electronic trading platform and liquidity provider for Asia, announced today that it has opened a sales and support office in Singapore. Leading Tora’s new Singapore office will be Tora Vice President Laura Hanson, formerly with BGC International and Cantor Fitzgerald in Singapore and New York.
“Singapore represents a natural extension of our worldwide sales and support network which provides trading technology and access to liquidity for buy side firms throughout Asia,” said Robert Dykes, Tora Trading Services CEO. “Singapore’s dynamic fiscal and legal environment makes it a very attractive location for the buy side firms we already serve in Singapore and throughout the region. We are delighted to welcome Laura Hanson to the Tora team.”
According to the Monetary Authority of Singapore, assets under management (AUM) by Singapore-based asset managers have grown at an annual growth rate of more than 25% over the past five years, to a record USD$814 Billion at the end of 2007. Major brokers including Deutsche Bank, Citibank, Morgan Stanley, and Merrill Lynch have all strengthened their prime brokerage desks in Singapore over the past year. Hedge fund assets managed from Singapore have more than doubled over the past two years.
“I am excited to have Laura Hanson on the Tora team in Asia,” said Chris Jenkins, Tora Trading Services managing director, sales and operations, Asia Pacific. “Singapore is a major hub for hedge funds trading Asia and I look forward to supporting Laura as we add more clients on the TORA Trading Platform, and as we grow our office in Singapore.”
Justin Sage, head of trading for Amoeba Capital Partners, added: “Amoeba’s Singapore trading team has been using Tora’s trading platform for some time now, and we are delighted to welcome Tora officially to Singapore. We look forward to having a local Tora presence to help us leverage Tora’s existing and new offerings.”
Tora (www.stage.toratrading.tw) is the recognized leader in electronic trading systems and access to liquidity for Asia. The TORA Trading Platform is the most comprehensive multi-broker electronic trading platform focused on Asia with 75 Asian brokers, 24 markets, 14 countries, 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. 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 the TORA Trading Platform, including over 25% of all electronic trading on the Tokyo Stock Exchange. The TORA Trading Platform is provided in an application service provider (ASP) model, and requires no IT infrastructure or staff at the customer site. Tora has over 100 employees dedicated to Asia, with primary, state of the art data centers in Tokyo and Hong Kong, providing 99.99% up time, low latency and high reliability across multiple markets. The TORA Trading Platform integrates with a full complement of third-party and proprietary order management, portfolio management, risk, accounting and other back-office and compliance systems. Tora Trading Services has offices in Tokyo, Hong Kong, Singapore, San Francisco, and New York. For more information, please visit www.stage.toratrading.tw.
Tora Trading Services, TORA Compass, TORA Clearpool, TORA Alpha and the Tora logo are trademarks or registered trademarks of Tora Trading Services in the United States and other countries. All other trademarks are the property of their respective owners.