TORA Integrates OTAS Analytics
TORA, provider of the industry’s most advanced cloud-based order and execution management system (OEMS), and OTAS Technologies, a Liquidnet company and specialist provider of market analytics and trader intelligence, announced today that TORA has integrated OTAS Portfolio and Trading Analytics applications into its OEMS platform to help clients generate alpha and meet MiFID II best execution requirements. This development is the latest in a series of enhancements TORA has made to ease the burden on clients as they transition to this new regulatory regime.
Today, portfolio managers and traders are inundated with market data and information on which to base investment and trading decisions. OTAS’ real-time analytics, in combination with TORA’s suite of pre-, in- and post-trade TCA tools, help clients overcome this challenge. OTAS Analytics use artificial intelligence and big data techniques to alert portfolio managers and traders to hidden risks and opportunities that would otherwise be difficult to identify.
OTAS Portfolio Analytics take the challenging work out of monitoring holdings by highlighting exceptional moves in a stock’s price relative to price history and sector peers. OTAS Trading Analytics seek to minimize trading costs by monitoring ongoing market conditions and alerting traders in real-time to exceptional occurrences in volume, price, liquidity and spread.
Commenting on the partnership, Chris Jenkins, Managing Director at TORA said: “The pressure to outperform the market and meet regulatory best execution requirements has never been greater. I’m excited to offer our clients integrated access to the OTAS Portfolio and Trading Analytics applications which will streamline their workflows, help improve their overall performance and enable them to meet MiFID II demands”
“OTAS is committed to delivering the most advanced suite of analytics to help our clients meet regulatory requirements, ensure best execution, and benefit from sophisticated market intelligence to drive better trading decisions in an increasingly competitive market,” said Tom Doris, CEO of OTAS Technologies. “By integrating OTAS Analytics into the TORA OEMS platform, we can give our joint clients access to the most up-to-date information they need to make fast and informed trading decisions whilst improving transparency and efficiency.”
There are three key areas where action is required.
Some material changes have come out of ESMA’s review of algorithmic trading.
A consolidated tape will significantly improve transparency and create a level playing field.
AFME said there should be mandatory free data contribution to the consolidated tape.
The review is an opportunity to recalibrate MiFID II regulations post-Brexit.