TORA integrates Markit TCA tools for pre and post-trade analytics

Electronic trading technology provider TORA has today announced a partnership with Markit to integrate Markit’s pre and post trade transaction cost analysis (TCA) tools into its Execution and Order Management System.

TORA has integrated Markit’s TCA tools into Compass to allow clients to see pre-trade analytics in their order blotter. The data items available include the market impact cost estimate and the standard deviation of that estimate, which shows the expected cost of implementing the position.

TORA also has seamless integration with Markit’s post-trade TCA product, which means that client execution data can automatically be processed for further analysis.

As TORA concentrates its efforts on the Asia-Pacific region, it is clear that Western firms vying for more than a foothold in the burgeoning market are adapting their infrastructure in the advent of proposed trade reporting rules which are likely to be implemented in Hong Kong and Singapore as regions which are home to a wealth of institutional FX companies as part of the global initiative among the G8 countries to forge a standardized regulatory framework for OTC derivatives.

Brad Hunt, managing director and head of information in Asia Pacific at Markit, said “The integration of Markit’s TCA tools with TORA’s trading solutions will help investors by providing them with greater insight for their trading decisions. Markit’s high quality pre- and post-trade analytics, combined with TORA’s state of the art trading and portfolio management technology, will help customers reduce trading costs and cumulative price impact as well as manage execution quality.”

“We are delighted to be able to extend our existing analytics with Markit’s market leading pre- trade estimates through TORA’s Compass Execution and Order Management system,” said Robert Dykes, CEO of TORA, “Our clients have always been concerned with the cost and performance of their executions and this gives them access to even more tools”.

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