$26B asset manager replaces legacy platform with TORA OEMS after two-year, head-to-head evaluation
SAN FRANCISCO/HONG KONG — March 28, 2019, TORA – provider of the industry’s most advanced cloud-based order and execution management system (OEMS), today announced that Schonfeld Strategic Advisors, LLC, a global, multi-manager platform which manages an aggregate gross market value in excess of $26 billion, has implemented the TORA OEMS in its Asian Offices.
Schonfeld is replacing a legacy OEMS platform with TORA after running the two platforms side-by-side for two years. Schonfeld is also using TORA Ticketing to support critical middle and back office functions, including post-trade allocations.
“After working with our team and platform for several years now, we are thrilled Schonfeld has decided to move all of their Asian equity trading operations onto our TORA OEMS,” said Robert Dykes, CEO of TORA. “Our cloud-based platform has enabled us to deliver Schonfeld a steady flow of enhancements over the years and has made integration with their other systems seamless. We look forward to remaining a close partner of Schonfeld’s for many years to come as they continue to scale their global business.”
Spencer Mindlin, analyst at Aite Group stated, “Our research is revealing a trend where buy-side firms are placing a higher emphasis on their platform technology providers. The OEMS industry has seen a number of consolidations in recent years which has pushed many firms to consider if a platform upgrade makes sense at this time. Firms such as TORA that focus on the latest technology, bespoke client service support and scalability have become increasingly attractive.”
TORA is the leading global provider of advanced investment management technologies supporting the full trading lifecycle. TORA OEMS brings together order management, compliance, risk and trading functions across equities, futures and FX onto a single platform. With a full suite of cloud-based SaaS-delivered execution, analytics and compliance tools, as well as order, portfolio and risk management capabilities and a global FIX network, TORA’s products are utilized by hundreds of the industry’s leading hedge funds, asset managers, proprietary trading firms and sell-side trading desks globally.
TORA Ticketing, is a key component of this solution, is a fully automated allocation, matching and reconciliation tool for all trading activity.
With headquarters in San Francisco, TORA has over 250 employees across offices in Hong Kong, Jersey, New York, Romania, Singapore, Sydney and Tokyo. More information is available at www.stage.toratrading.tw.
About Schonfeld Strategic Advisors LLC
Schonfeld is a multi-manager platform that invests its capital with Internal and Partner portfolio managers, primarily on an exclusive or semi-exclusive basis, across Quantitative, Fundamental Equity and Tactical Trading strategies. Schonfeld has created a unique structure to provide global Partner PMs with autonomy, flexibility and support, which enables them to maximize the value of their businesses while driving returns for Schonfeld. Schonfeld currently manages an aggregate gross market value in excess of $26 billion.
Forefront Communications for TORA