Tourmaline Partners marks 10th anniversary
Tourmaline Partners, an independent outsourced trading solutions firm, has marked the 10th anniversary of its business.
The firm currently serves more than 350 institutional investor clients including hedge funds and asset managers of all sizes. Its non‐competitive relationships with more than 400 global brokers provide clients with access to liquidity at all major exchanges, dark pools, and other off-exchange trading venues around the world. Tourmaline’s unique business model provides clients unprecedented help in cross-border trading, and in achieving best execution and costs savings.
Tourmaline was founded in Stamford, Connecticut in 2011 to provide global execution in equities and derivatives to managers of all sizes. Tourmaline opened a London office in early 2012 and began Asia-Pacific trading shortly thereafter. Spurred by growth in the region, the firm’s Sydney office was opened in 2017.
In 2020, Tourmaline announced a majority investment by Copley Equity Partners, a private family office focused on established businesses with significant prospects for further development. This growth capital will help to expand Tourmaline’s geographic footprint, hire new talent and invest in new technologies to drive revenue and meet an increased demand for their services, all while remaining 100% conflict-free.
Tourmaline’s offering has grown along with the industry’s recognition of the value of outsourced trading services. While outsourcing had traditionally been understood as a solution for smaller funds that choose to not have internal trading capabilities, Tourmaline expanded the market by tailoring “supplemental” trading solutions for larger funds that do maintain their own in-house trading resources.
Tourmaline now services the full spectrum of buy-side players, from new launches up to some of the world’s largest managers. These clients turn to Tourmaline to help expand their reach and address bandwidth issues. This includes helping with difficult to trade names, accessing “away” brokers, trading overseas markets, helping to build or exit large positions, and managing commission wallets.
“Tourmaline has thrived for ten years because our team does much more than help clients with the execution of trades,” says Aaron Hantman, Tourmaline CEO and founding partner. “First and foremost, we are a service organisation. The dedication and expertise of our professionals, averaging more than 15 years of trading experience, is driven by an unparalleled understanding of the needs of asset managers. We’re excited to be able to help them – and help their clients, the end investors – on a daily basis.”
While Tourmaline has grown in each year it has been in operation, the volatility of 2020 led existing and new clients to avail themselves of services in ways they hadn’t before.
“We have built a robust global infrastructure that our clients have come to lean on 24/7, particularly during disruptive events and moments of market stress,” says Henry Higdon, Tourmaline’s head of global trading and a founding partner. “I’m proud of all that we have accomplished in our first 10 years, and it has been especially rewarding to know that our clients rely on us as a trusted partner, and to share in their success.”
“The past ten years have proved fruitful, yet we are still only scratching the surface of our total addressable market. As our industry changes we are well positioned for the future, and look forward to growing Tourmaline over the long term,” says Hantman. “On behalf of our partners, I would like to extend my sincere and heartfelt thanks to all of our clients, counterparties, partners and employees who have helped us reach this milestone.”