Tora OEMs

Boston Crowd-Sourced Hedge Fund Deploys Tora OEMS

Tora OEMsThe provider of cloud-based order and execution management system (OEMs) has been selected by Quantopian for its multi-asset OEMs due to its industry-leading functionality, interoperability with other systems and compliance coupled with a high standard of on the ground support and professional services resources.

Founded in 2011 by John Fawcett and Jean Bredeche, Quantopian crowd-sources quantitative asset management thrived by enabling its global user community to develop trading algorithms using its quantitative research software platform. TORA OEMS will help Quantopian on its fund trading activities with its multi-asset, multi-region, MiFID II-compliant system which provides detailed reports & analytics and has a broker-neutral application.

Marc Volpe, Quantopian CFO. Mr. Volpe, said: “The TORA OEMS ticked all of the boxes relating to our full end to end workflow needs. TORA was extremely responsive during the entire evaluation and onboarding process. They were able to deliver some custom requirements in mere days when a competing platform estimated several weeks for the same development.”

Chris Jenkins, Managing Director at TORA commented: “We are thrilled that Quantopian has chosen TORA to provide our industry-leading OEMs.  We look forward to working with Quantopian to address their current workflow needs and to keep pace with changing needs as markets evolve. TORA is heavily focussed on the US market and we are committed to serving this market and bring new levels of customer service.”

Earlier this year, Hong Kong-based multi-strategy hedge fund, Infini Capital Management, deployed TORA’s OEMs in order to address the need for a solid Pairs Trading solution. The firm’s pairs trading application allows hedge funds to better control execution via a series of parameters such as slicing and concurrency. The app allows for bulk uploads, provides the capacity to trade thousands of pairs concurrently, and features an alert management platform that highlights both price volatility and hung legs.

In late 2018, TORA upgraded its OEMS support for MiFID II transaction and trade reporting by integrating its trading system with NEX Regulatory Reporting. The firm’s MiFID II compliant solution, TORA Reporting Solution, allows assets managers to verify and report on their trading operations as it performs calculations on any data source and produces in-depth analysis reports with clear visualization and charts and can be accessed via web and mobile devices on a real-time basis.

In 2017, TORA launched its artificial intelligence (AI)-driven pre-trade transaction cost analysis (TCA) solution designed to help firms meet the best execution requirements imposed by MiFID II, coming into effect January 2018. Moving beyond traditional TCA, ts artificial intelligence techniques are able to accurately estimate price slippage for trades before.