TORA wins single provider mandate from boutique asset manager Zennor

The selection follows the news of TORA’s planned acquisition by London Stock Exchange Group (LSEG). 

Zennor Asset Management, a London-based boutique asset manager, has selected trading technology specialist TORA to provide an all-in-one EMS, OMS and PMS platform.  

Zennor, founded in 2020 by former Polar Capital manager James Salter and JP Morgan veteran David Mitchinson, is a relative newcomer to the scene. With a focus on Japanese equities (a specialism of Salter’s), the firm’s first foray is the Zennor Japan Fund, launched in February 2021 and with accrued assets under management estimated to exceed $170 million.  

TORA’s single provider system will support trade execution, position keeping, P&L monitoring, commission management, share class accounting and advanced tools to help manage the daily operational tasks of its fund. 

“The selection process was very thorough,” explained Sachin Patel, COO at Zennor.  

We expect our fund to grow rapidly and we needed a solution that works for a newer fund but also has the capacity to scale significantly over time. We selected TORA because its all-in-one solution met both of these criteria and was ready to go with no new development required. It was important for us to work with a technology partner that could handle potential future fund complexities and growth whilst delivering state of the art technology that easily integrates with our existing fund administrators and custodians.” 

Chris Jenkins, managing director at TORA, added: “Integrating separate systems can be complex. The more components there are, the harder it is to maintain the underlying infrastructure. Our all-in-one solution takes away all that stress and delivers a best in breed EMS, OMS and PMS in one unified platform. We were very excited to partner with Zennor at the early stages of its expansion and we look forward to our cloud-solution continuing to support them in the future.” 

Earlier this year, TORA entered into a $325 million acquisition agreement with LSEG, following which the firm will become part of the exchange group’s data and analytics division.  

The deal is expected to expand LSEG’s trading and banking solutions business, particularly with TORA’s extensive presence in Asia and North America.  

“Acquiring TORA will enable LSEG to deliver critical ‘at trade’ capabilities for the buy side, seamlessly connecting into our next generation desktop Workspace,” said Dean Berry, group head of trading and banking solutions at LSEG, at the time of the announcement.