About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

TORA Introduces AlgoWheel to Help Firms Create Systematic Best Ex Processes

Subscribe to our newsletter

TORA has introduced an AI-powered AlgoWheel designed to help firms create scalable and systematic best execution processes in line with the requirements of Markets in Financial Instruments Directive II (MiFID II).

The TORA AlgoWheel is a quantitative execution strategy optimiser that uses AI technology to automate low-touch order execution or provide real-time market intelligence for orders needing human intervention. It provides a feedback loop that uses historical and real-time order-level execution information to identify the optimal broker algo and inform the trading decision making process.

Historical trade execution information is captured by TORA’s post-trade transaction cost analysis (TCA) solution, while the company’s AI-driven pre-trade TCA tool is used to evaluate each order. The pre-trade TCA platform is built on a convolutional neural network that uses machine learning to increase its estimation precision over time.

Low-touch orders can be automatically executed by TORA’s Strategy Server using the recommended broker algo combination. Alternatively, the recommended broker algo can be displayed directly in the TORA trading blotter for orders where a trader wants to be involved.

When using the automated process, the Strategy Server is configurable to enable traders to customise the execution process using any number of data inputs. For example, traders can set a trading strategy to begin at a time of day, when a stock hits a certain price or pending certain overall market conditions. The server can also be configured to send a certain percentage of orders to different broker algos to help avoid sample bias.

Chris Jenkins, managing director at TORA, says: “To remain competitive in today’s market, traders need to focus their attention where they can add most value. To do that, they need an automated trading solution they trust can achieve best execution for the bulk of their orders.”

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Unlocking value: Harnessing modern data platforms for data integration, advanced investment analytics, visualisation and reporting

4 September 2025 10:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Modern data platforms are bringing efficiencies, scalability and powerful new capabilities to institutions and their data pipelines. They are enabling the use of new automation and analytical technologies that are also helping firms to derive more value from their data and...

BLOG

A (Free) Practical AI Handbook for Capital Markets Professionals

Artificial Intelligence (AI) has swiftly transitioned from a promising concept into an operational reality across the capital markets. Senior executives, compliance leaders, and technology specialists are already well-acquainted with the potential of AI to streamline processes, enhance decision-making, and open new competitive opportunities. Yet, the current challenge isn’t about grasping AI’s transformative potential – it’s...

EVENT

AI in Capital Markets Summit New York

The AI in Capital Markets Summit will explore current and emerging trends in AI, the potential of Generative AI and LLMs and how AI can be applied for efficiencies and business value across a number of use cases, in the front and back office of financial institutions. The agenda will explore the risks and challenges of adopting AI and the foundational technologies and data management capabilities that underpin successful deployment.

GUIDE

AI in Capital Markets: Practical Insight for a Transforming Industry – Free Handbook

AI is no longer on the horizon – it’s embedded in the infrastructure of modern capital markets. But separating real impact from inflated promises requires a grounded, practical understanding. The AI in Capital Markets Handbook 2025 provides exactly that. Designed for data-driven professionals across the trade life-cycle, compliance, infrastructure, and strategy, this handbook goes beyond...