TORA integrates Neptune to boost fixed income OEMS

Dan Barnes

Trading technology provider, TORA, is integrating its leading order/execution management system (OEMS) with Neptune Networks, the pre-trade data connectivity source. The new connection enables clients to view pre-trade analytics from the TORA OEMS to help improve bond execution quality.

Neptune delivers pre-trade bond market data with real-time connectivity between banks and investors. The platform has 28 global dealers in the network and reportedly provides the buy-side with access to 65,000 axes and inventory positions daily and over US$300 billion in notional liquidity. Asset class coverage includes credit, rates and emerging markets. Neptune is governed by a collaboration of the largest global banks and investors with a view to deliver reliable, relevant, insight-enabled relationships between buy-side investors and sell-side banks.

The new functionality enables clients to see and analyze all axe and inventory data, from the Neptune network, for each bond and for each broker counterparty from within the TORA OEMS. This information is available at point of trade and can help investors to improve their success rates when trading with brokers. The insights provided by the Neptune pre-trade data are critical in helping portfolio managers and traders understand the liquidity around particular issues and so help facilitate increased trading efficiency.

Chris Jenkins, managing director at TORA commented, “The new integration is key for traders looking to improve the execution process for global bonds. TORA’s OEMS allows the user to not only see live pre-trade data in the blotter, but to also see historical data from the Neptune broker network.”

Byron Cooper-Fogarty, Interim CEO of Neptune said, “We are excited to partner with TORA. The fixed income market has become ever more data-driven in recent years and buy-side clients are continually looking for efficient ways to stream data to help improve trade outcomes. TORA’s OEMS clients are now well-positioned to consume this valuable data.”

TORA’s OEMS provides fixed income traders with tools to help streamline their operations and improve trade execution. The platform offers broad access to bond liquidity, and dedicated fixed income OEMS trading tools such as ‘comparable bond’ searches, axe and inventory analysis tools, historical analysis of trade execution and rules to create auto-routing based on bespoke information.

Functionality includes execution, allocations, risk control, real time positions-keeping and P&L monitoring across equities, bonds, futures, options and FX.