DMA Prime deploys TORA’s OEMS and outsourced trading service to cater South Africa

Rick Steves

The order execution management system provides advanced tools for clients trading equities, futures, options, bonds and FX in a unified system.

INTL FCStone takes its FX and commodities business into Africa

DMA Prime has selected TORA’s OEMS and TORA’s outsourced trading service as part of the rapid expansion of their outsourced dealing services in South Africa and the need for a scalable multi-asset global execution technology solution to help meet that growth.

A subsidiary of DMA Group, DMA Prime provides execution and prime brokerage services to institutional asset managers in South Africa.

Its execution desk is also deploying TORA’s outsourced trading desk to supplement their global market reach with TORA traders working in multiple time zones to execute orders.

DMA Prime is excited with South Africa’s growth story as it is the continent’s largest savings market with an estimated ZAR 7.5 trillion AUM in regulated savings and investments (Collective Investments, Long term Insurance, The Public Investment Corp & Retirement Funds).

The order execution management system provides advanced tools for clients trading equities, futures, options, bonds and FX in a unified system.

The OEMS delivers pioneering trading functionality including order execution, order allocation management, automated broker order routing, pre-trade risk controls, real-time position management and P&L tracking.

The partnership already allows DMA Prime to access the TORA FIX network to connect to global broker algo offerings, as well as use TORA’s equity pairs algos to improve execution quality and use the TORA TCA reporting suite.

Chris Jenkins, Managing Director at TORA, said: “We are very pleased to announce DMA Prime as TORA’s first South African client, which is a milestone for us. We are passionate about being able to provide the latest trading technology that gives clients an added edge. We look forward to a long-term partnership with the team at DMA Prime.”

Justin Sage, Head of Institutional Trading at DMA Prime. commented: “Against the backdrop of a very competitive landscape, TORA’s OEMS was the perfect choice for us. We really needed a global execution system that allows fast single-click trading and the ability to seamlessly connect to our existing in-house proprietary portfolio technology and liquidity providers.”

“What’s more by working with the TORA outsourced trading team, we can scale our trading operations significantly as our client base grows. Institutional investors in South Africa demand market-leading technology and high service levels, and we are comfortable that TORA will keep ahead of the curve with extensive in-house development capacity and trading expertise to supplement our internal teams.”

TORA has recently partnered with Cowen’s Outsourced Trading, who has requested its Order and Execution Management System (OEMS) for Fixed Income across USA, Europe and Asia.

TORA has provided its advanced trading functionality, including market data aggregation, customized order intake and execution, order allocation management, and post-trade analytics, which also offers a comparable bond tool, smart order routing, pre-trade risk controls, real-time position management, and P&L tracking in one single interface.

In April, TORA appointed Mark Moran as Sales Director to work alongside Tom Mollooly and grow TORA’s PMS, OMS and EMS products to the US buy-side and sell-side firms. Moran is leveraging recently signed partnership deals with EBS, BondCliq, and ICAP.

TORA’s OEMS offers front-to-back end trading for hedge funds and asset managers, fully auditable, MIFID II compliant, with in depth order records, price information and best execution reports. TORA’s platform also delivers advanced pre trade and post trade TCA to improve execution quality and ensure best execution.

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