TORA, a provider of cloud-based order and execution management system (OEMS), has launched the TORA Ticketing solution, which provides advanced pre- and post-trade allocation, trade reconciliation, commission management and investment book of records (IBOR) functionality.
The new solution is available as a module within TORA’s OEMS and portfolio management system (PMS), or as a standalone application that can be integrated with third-party systems.
Global regulations have brought post-trade processes into the spotlight and are driving asset managers to become more operationally efficient.
MiFID II will require T+1 transaction reporting and more stringent commission tracking, the SEC has adopted a shortened T+2 settlement cycle that will go into effect in September 2017 and the European Union EMIR already requires T+1 derivatives transaction reporting.
TORA Ticketing helps asset managers navigate these time sensitive requirements so that they can avoid trade processing errors that are costly to correct and that introduce investment and regulatory risk.
“Hedge funds and asset management firms are demanding solutions that enable them to focus on trading and investing rather than IT projects and vendor management,” says Robert Dykes (pictured), TORA CEO. “We’re able to meet this demand with our OEMS because it’s a single application we have built from the ground up to handle all aspects of the trading lifecycle. With TORA Ticketing, we’re now able to support critical middle and back office functions on the same high-performance platform our clients already use for trading, portfolio management and compliance.”
