Trading technology provider TORA's Algorithmic Trading Development Toolkit (ATDT) now includes customisable pairs trading.
TORA Pairs Trader will let users trade pairs across multiple counterparties with flexible and wide ranging execution parameters.
"This will appeal to the buy side because Pairs Trader delivers flexibility and performance for an increasingly popular pan-Asian and global strategy," said Gerrit Van Wingerden, managing director of product development at TORA. "The Pairs Trader is another example of our ability to deliver custom automated strategies from our Algorithmic Trading Development Toolkit".
Pairs Trader went live in Q4 and is currently trading for clients across 15 markets in multiple assets. The new fully integrated multi-market, multi-asset pairs trading application incorporates a blotter solely for pairs and with parameters such as tolerance, slippage, slicing and concurrency, provides a high degree of control over execution.
Capacity exists to trade thousands of pairs concurrently and TORA are providing full support for bulk uploads. Within the application, there is also an alert management platform highlighting price volatility and hung legs.
"The Pairs Trader has enabled us to trade much more efficiently. Our completion of executions has increased significantly especially in volatile market conditions," said Mike Munns, CIO of Prodigal Capital in Sydney. "The reason we chose TORA was their ability to deliver a customised solution quickly and support it fully."