TORA Trading

TORA Trading Integrates NEX MiFID II Reporting Into OEMS

Chris Jenkins, Managing Director of TORA
Chris Jenkins, Managing Director of TORA

Cloud-based order and execution management system provider Tora has expanded its OEMS support for MiFID II transaction and trade reporting by integrating its trading system with NEX Regulatory Reporting.

NEX Regulatory Reporting is an Approved Reporting Mechanism (ARM) and an Approved Publication Arrangement (APA). These authorizations will serve TORA clients in a straight-through-processing solution that reduces the operational demands of the MiFID II regulation which requires asset managers to submit transaction reports, including order size, timestamps, asset type and venue to an Approved Reporting Mechanism (ARM) on T+1 for onward reporting to local regulators. Firms are also required to send trade reports including prices, volumes and instrument identifies to an Approved Publication Arrangement (APA).

Chris Jenkins, Managing Director of TORA, said:

“We are excited to add NEX Regulatory Reporting to the growing list of partners we work with to provide our clients with a comprehensive MiFID II solution. Developments like this one, combined with the AI-powered pre-trade metric enhancements that we‘ve added to address MiFID II’s best execution requirements, we are giving our clients an important advantage under this regulatory regime.”

Joanna Davies, Head of NEX Regulatory Reporting, commented:

“We’re looking forward to working with TORA to provide its buy-side clients with a future-proof MiFID II reporting solution that is built on agile technology and backed by specialist consultancy and support.”

Joanna Davies, Head of NEX Regulatory Reporting
Joanna Davies, Head of NEX Regulatory Reporting

Earlier in 2018, TORA launched its MiFID II compliant solution capable of performing calculations on any data source and produces in-depth analysis reports with clear visualization and charts, and accessible via web and mobile devices on a real-time basis. The system includes features such as Data Source Flexibility, Data Protection, Rich Report Template Library with in-depth reporting structures, Flexible Report Designs, Report Scheduling, and Interactivity.

NEX Group has enhanced its NEX Regulatory Reporting business with strategic partnerships throughout the last couple of years. An agreement with DUCO, a self-service data normalization and reconciliation services provider, has allowed the company to provide its clients with MiFiD II reconciliation since June 2017.
In late March 2018, Eze Software, a leading provider of investment technology services has forged a strategic collaboration to expands its trade reporting supporting with NEX Regulatory Reporting.