TORA, San Francisco-based provider of advanced trading technology, has announced that DMA Prime has selected their order execution management system (OEMS) and outsourced trading service.
DMA Prime is a provider of execution and prime brokerage services to institutional asset managers in South Africa.
The selection of TORA’s OEMS comes as part of DMA Prime’s rapid expansion of their outsourced dealing services in the region and the need for a scalable multi-asset global execution technology solution to help meet growth.
Additionally, the execution desk at DMA Prime selected TORA’s outsourced trading desk to supplement their global market reach with TORA traders working in multiple trading zones to execute orders.
TORA’s OEMS provides advanced tools for clients trading equities, futures, options, bonds and FX in a unified system. The system delivers advanced trading functionality including order execution, order allocation management, automated broker order routing, pre-trade risk controls, real-time position management and P&L tracking.
DMA Prime can now access the TORA FIX network to connect to global broker algo offerings, as well as use TORA’s equity pairs algos to improve execution quality and use the TORA TCA reporting suite.
Chris Jenkins, managing director at TORA, says: “We are very pleased to announce DMA Prime as TORA’s first South African client, which is a milestone for us. We are passionate about being able to provide the latest trading technology that gives clients an added edge. We look forward to a long-term partnership with the team at DMA Prime.”
Justin Sage, head of institutional trading at DMA Prime, comments: “Against the backdrop of a very competitive landscape, TORA’s OEMS was the perfect choice for us. We really needed a global execution system that allows fast single-click trading and the ability to seamlessly connect to our existing in-house proprietary portfolio technology and liquidity providers.
“What’s more, by working with the TORA outsourced trading team, we can scale our trading operations significantly as our client base grows. Institutional investors in South Africa demand market-leading technology and high service levels, and we are comfortable that TORA will keep ahead of the curve with extensive inhouse development capacity and trading expertise to supplement our internal teams.”
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