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 Delivers AI Tool Designed to Help Traders Meet MiFID II Best Execution

Subscribe to our newsletter

Investment solutions supplier TORA has developed a pre-trade analytics solution that uses artificial intelligence (AI) to help trading firms meet the best execution requirements of Markets in Financial Instruments Directive II (MiFID II). TORA is offering the tool as part of its cloud-based order and execution management system (OEMS), enabling traders to monitor costs across the lifecycle of a trade and improve investment decision making.

TORA says its solution moves beyond traditional transaction cost analysis (TCA) to accurately estimate price slippage for trades before they enter the market. The solution examines the core attributes of orders – such as spread, volatility and volume consumption – using a library of historical, global market data. From this, it estimates the market impact of using any broker and algorithm combination, helping traders decide the best place to send their orders. Its estimation precision increases over time, through machine learning algorithms that continuously capture new order data as it comes in, and a neural network that is trained using real-time and historical data.

David Tattan, head of European business development at TORA, says: “MiFID II raises the bar for traders to deliver and demonstrate best execution to investors and regulators. Automation and AI will play an important part in helping them keep up with market complexity and a proliferation of information to process.”

As well as the AI TCA tool, TORA offers in-trade and post-trade TCA products that are available on live interactive dashboards and in blotters. The company also supports best execution via integration with OTAS and a range of broker algorithms.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Managing Non-Financial Misconduct Under SMCR

9 October 2025 11:00am ET | 3:00pm London | 4:00pm CET Duration: 50 Minutes Non-financial misconduct—encompassing behaviours such as bullying, sexual harassment, and discrimination is a key focus of the Senior Managers and Certification Regime (SMCR). The Financial Conduct Authority (FCA) has underscored that such misconduct is not only unethical but also poses significant risks...

BLOG

Beyond the AI Hype: Six Trading Technology Trends to Watch in 2025

The trading technology landscape is heading into 2025 with unprecedented momentum, driven by a convergence of regulatory changes, market structure reforms, and advances in core infrastructure technologies. While artificial intelligence dominates much of the conversation around fintech, the year ahead will also be shaped by broader, practical shifts—from faster settlement cycles and rising data costs...

EVENT

Data Management Summit London

Now in its 16th year, the Data Management Summit (DMS) in London brings together the European capital markets enterprise data management community, to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

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...