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A-Team Insight Blogs

TORA Implements Cloud OEMS at Buy-Side Firms Based in Zurich and New York

TORA has reported two implementations of its order and execution management system (OEMS) in as many weeks, taking both Zurich-based Systematic Investment Management AG (SIMAG) and New York-based Schonfeld Strategic Advisors’ Asian offices into the cloud with its unified OEMS.

These implementations follow consolidation in the OEMS industry over recent years and demonstrate buy-side intent to improve technology and move solutions off premise and into the cloud.

SIMAG, a joint venture between Credit Suisse and the Swiss Federal Institute of Technology, uses artificial intelligence (AI) to extract signals from noisy financial data. The firm was looking for a technology partner that offered a cloud-based, unified OEMS and portfolio management system (PMS) that would allow it to execute sophisticated strategies using straight-through processing (STP). It also required an open system that could quickly interface with existing technology and deal with post- trade allocations.

Christian Gast, SIMAG CEO, says a selection process found TORA was best placed to provide flexible configuration, state-of-the-art technology and client service for the firm’s STP requirements.

Schonfeld Strategic Advisors, a global asset manager, has implemented the TORA OEMS to manage its Asian equity trading operations after a two-year, head-to-head evaluation that ultimately replaced a legacy OEMS platform with the TORA solution. Schonfeld is also using TORA Ticketing to support middle and back-office functions, including post-trade allocations.

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