South African execution and prime brokerage provider, DMA Prime, has partnered with TORA to use its order and execution management system (OEMS) and outsourced trading services.
The partnership follows an expansion of DMA Prime’s outsourced dealing services, which increased the need for a scalable multi-asset global execution system to meet the growth.
Additionally, TORA’s outsourced trading desk will team up with DMA Prime’s execution desk and supplement their global market reach with TORA traders working in various time zones to execute orders.
TORA’s OEMS provides tools for clients trading equities, futures, options, bond and foreign exchange in a unified system. The system provides order execution, order allocation management, automated broker order routing, pre-trade risk controls, real-time position management and P&L tracking.
“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,” said Chris Jenkins, managing director at TORA.
The TORA FIX network can now be accessed by DMA Prime to connect to global broker algo offerings. In addition, by accessing the network, DMA Prime can use TORA’s equity pairs algos to improve execution quality and use the TORA TCA reporting suite.
“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,” said Justin Sage, head of institutional trading at DMA Prime.
“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.”
Recently, TORA expanded its OEMS with buy-side bond trading data from data pooling network Glimpse Markets. The expansion allows buy-side users to view Glimpse’s aggregated buy-side execution data on TORA’s OEMS at the point of trade.