Tora introduces direct access to Merrill Lynch MLXN liquidity pool

Source: Tora

Tora, the leading electronic trading platform and liquidity provider for Asia, announced today the availability of direct access via TORA Compass to Merrill Lynch's expanded MLXN liquidity pool which recently added access to liquidity for Hong Kong and Japan.

"We are delighted that buy-side firms who use TORA Compass can now take advantage of Merrill Lynch's internal liquidity when trading in Hong Kong and Japan," said Mark Wheatley, Managing Director at Merrill Lynch. "Typically, trades that execute in MLXN benefit from the tighter spreads that enable price improvement from the underlying exchange, quicker execution, and minimized market impact - benefits that can now be enjoyed by all TORA Compass clients. We are seeing a continual increase in both the number of clients utilizing electronic trading, and the volume of orders executed electronically. Users are becoming more sophisticated by the day, and are very understanding of all the benefits alternative liquidity pools bring them, especially ones easily accessed as part of their usual trading patterns."

MXLN is now available in TORA Compass Version 3.0. It is fully automated and completely anonymous. The MLXN order book is not visible to any person or system and no indications of interest are published internally or externally.

"Off-exchange liquidity is becoming increasingly important to our clients' ability to achieve superior results from their trading strategies," commented Robert Dykes, CEO of Tora. "We are pleased to be working with Merrill Lynch to make the MLXN liquidity pool available to the growing base of TORA Compass clients."

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