This will allow the INTERTRADE client base to access liquidity that up to now has not been offered on their platform.

INTERTRADE has entered into a partnership with TORA, whose technology has been adopted by asset managers throughout Asia and the world, to enable their clients to capitalize on the market structure changes in Japan.

"By collaborating with TORA we have quickly been able to launch a product into the market place that is based on proven technology. Off exchange liquidity has grown at a rapid rate over the last few years. This enables us to give our wide and loyal client base access to the liquidity in PTS and broker pools," said Takahiro Ozaki, President of INTERTRADE. "This initiative underpins our commitment to our customers in giving them the latest technology in the marketplace."

Liquidity in the Japanese market has become increasingly fragmented with close to 20% of all market volume now trading off-exchange on PTS's and broker pools. This liquidity has become an important source of price improvement that cannot be ignored by those seeking best execution. TORA's smart order routing technology will make the vast majority of this liquidity immediately available to INTERTRADE clients.

"TORA is very excited to have been part of this project, which will enable INTERTRADE clients to improve their execution quality dramatically," noted Robert Dykes, CEO of TORA. "TORA has been present in Japan for many years and we are delighted to be working with INTERTRADE."