DMA Prime, a provider of execution and prime brokerage services to institutional asset managers in South Africa, has selected TORA’s OEMS and TORA’s outsourced trading service.
DMA Prime chose TORA’s OEMS, as part of the rapid expansion of their outsourced dealing services in the region and the need for a scalable multi-asset global execution technology solution to help meet that growth.
In addition, the execution desk at DMA Prime has also selected TORA’s outsourced trading desk to supplement their global market reach with TORA traders working in multiple time zones to execute orders.
TORA’s OEMS provides advanced tools for clients trading equities, futures, options, bonds and FX in a unified system. The system delivers pioneering trading functionality including order execution, order allocation management, automated broker order routing, pre-trade risk controls, real-time position management and P&L tracking.
DMA Prime can now access the TORA FIX network to connect to global broker algo offerings, as well as use TORA’s equity pairs algos to improve execution quality and use the TORA TCA reporting suite.
Chris Jenkins, Managing Director at TORA, says “We are very pleased to announce DMA Prime as TORA’s first South African client, which is a milestone for us. We are passionate about being able to provide the latest trading technology that gives clients an added edge. We look forward to a long-term partnership with the team at DMA Prime.”
Justin Sage, Head of Institutional Trading at DMA Prime, says: “Against the backdrop of a very competitive landscape, TORA’s OEMS was the perfect choice for us. We really needed a global execution system that allows fast single-click trading and the ability to seamlessly connect to our existing in-house proprietary portfolio technology and liquidity providers.”
“What’s more by working with the TORA outsourced trading team, we can scale our trading operations significantly as our client base grows. Institutional investors in South Africa demand market-leading technology and high service levels, and we are comfortable that TORA will keep ahead of the curve with extensive inhouse development capacity and trading expertise to supplement our internal teams.”
South Africa is the continent’s largest savings market with an estimated ZAR7.5 trillion AUM in regulated savings and investments (Collective Investments, Long term Insurance, The Public Investment Corp & Retirement Funds), a growth story that DMA Prime as a participant is very excited by. The South African Rand (ZAR) has been one of the best performing emerging markets currencies this year, a popular carry trade opportunity with attractive yields relative to developed economies and a tail wind from strong commodity prices.
TORA was one of the first in the industry to establish a cloud based OEMS over 16 years ago. The system offers multi-asset, multi-region trading technology that is compliant with MIFID II. TORA’s OEMS offers a wealth of functionality covering execution, allocations, risk control, real time positions-keeping and P&L monitoring. The platform can also provide detailed reports & analytics and has a broker-neutral equity pairs algo suite.
