Source: Tora Trading Services
Tora Trading Services, the leading electronic trading platform and liquidity provider for Asia, announced today that it has opened a sales and support office in Singapore.
Leading Tora's new Singapore office will be Tora Vice President Laura Hanson, formerly with BGC International and Cantor Fitzgerald in Singapore and New York.
"Singapore represents a natural extension of our worldwide sales and support network which provides trading technology and access to liquidity for buy side firms throughout Asia," said Robert Dykes, Tora Trading Services CEO. "Singapore's dynamic fiscal and legal environment makes it a very attractive location for the buy side firms we already serve in Singapore and throughout the region. We are delighted to welcome Laura Hanson to the Tora team."
According to the Monetary Authority of Singapore, assets under management (AUM) by Singapore-based asset managers have grown at an annual growth rate of more than 25% over the past five years, to a record USD$814 Billion at the end of 2007. Major brokers including Deutsche Bank, Citibank, Morgan Stanley, and Merrill Lynch have all strengthened their prime brokerage desks in Singapore over the past year. Hedge fund assets managed from Singapore have more than doubled over the past two years.
"I am excited to have Laura Hanson on the Tora team in Asia," said Chris Jenkins, Tora Trading Services managing director, sales and operations, Asia Pacific. "Singapore is a major hub for hedge funds trading Asia and I look forward to supporting Laura as we add more clients on the TORA Trading Platform, and as we grow our office in Singapore."
Justin Sage, head of trading for Amoeba Capital Partners, added: "Amoeba's Singapore trading team has been using Tora's trading platform for some time now, and we are delighted to welcome Tora officially to Singapore. We look forward to having a local Tora presence to help us leverage Tora's existing and new offerings."