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Tora Trading Services opens Singapore office to handle asset management growth

Tora Trading Services, an electronic trading platform and liquidity provider for Asia, has opened a sales and support office in Singapore headed by vice-president Laura Hanson, formerly with BGC International and Cantor Fitzgerald in Singapore and New York.

'Singapore represents a natural extension of our worldwide sales and support network which provides trading technology and access to liquidity for buy side firms throughout Asia,' says Tora Trading Services chief executive Robert Dykes.

'Singapore's dynamic fiscal and legal environment makes it a very attractive location for the buy side firms we already serve in Singapore and throughout the region. We are delighted to welcome Laura Hanson to the Tora team.'

According to the industry regulator, the Monetary Authority of Singapore, the assets under management of locally-based asset managers have grown at an annual growth rate of more than 25 per cent over the past five years to USD814bn at the end of last December.

Brokers including Deutsche Bank, Citibank, Morgan Stanley, and Merrill Lynch have all strengthened their prime brokerage desks in Singapore over the past year, and hedge fund assets managed from Singapore have more than doubled over the past two years.

'I am excited to have Laura Hanson on the Tora team in Asia,' says Chris Jenkins, a managing director responsible for Tora's sales and operations in the Asia-Pacific region. 'Singapore is a major hub for hedge funds trading Asia, and I look forward to adding more clients on the Tora Trading Platform.'

Justin Sage, head of trading for Amoeba Capital Partners, adds: 'Amoeba's Singapore trading team has been using Tora's trading platform for some time now, and we are delighted to welcome Tora officially to Singapore. We look forward to having a local presence to help us leverage Tora's existing and new offerings.'

The Tora Trading Platform is a multi-broker electronic trading platform focused on Asia covering 75 Asian brokers, 24 markets, 14 countries and more than 150 algorithmic trading strategies to trade equities, stock futures and options, index futures and options, warrants, convertible bonds, swaps and other synthetics. More than USD25bn in transactions are processed each month through the platform, including over 25 per cent of all electronic trading on the Tokyo Stock Exchange.

Founded in 2004, Tora Trading Services has more than 100 employees dedicated to Asia and data centres in Tokyo and Hong Kong. Outside Asia, the group has offices in San Francisco and New York.

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