TORA, the leading provider of advanced trading technology and financial services, has announced the release of a comprehensive stock borrow management solution that is fully integrated with prime broker eLocate platforms.
“For many buy-side firms, stock borrow can be a time-consuming and inefficient process that directly impacts fund performance, either due to a direct trading impact or through operational costs,” said Chris Jenkins, Managing Director at TORA. “TORA’s new stock borrow solution streamlines, automates and simplifies this complex sequence of processes via fully integrated functionality in TORA’s OEMS and Portfolio Management systems.”
TORA’s real-time stock borrow solution has the following capabilities:
- Enables clients to transform an operational process with up to 10 separate steps into a single-click solution.
- Leverages real-time eLocate and ETB integrations with 14 of the leading prime brokerage platforms to automatically source borrow availability and compare rates.
- The eLocate feature is also integrated with TORA’s comprehensive allocation engine which can distribute borrow across different accounts and with different prime brokerages.
- TORA’s Portfolio Management system incorporates the cost of borrow into the profit and loss for each trade, giving clients an accurate and complete view of trading performance.
- User-defined rules are designed to suggest and book borrow returns based on any excess inventory, in addition to notifying the counterparties.
“TORA’s new stock borrow solution perfectly illustrates the company’s approach to innovative product development, which is to focus on client workflows while leveraging our advanced cloud-based infrastructure and cross-product integrations. The result of this approach are products that help the buy-side solve issues and improve fund performance”, said Robert Dykes, CEO of TORA.