TORA, the leading provider of advanced trading technology and financial services, today announced the release of an enhancement to its Order and Execution Management System to accommodate the Shanghai-Hong Kong Stock Connect for clients.
The Shanghai-Hong Kong Stock Connect is a landmark initiative that allows cross-border trading between select Hong Kong A-shares and China H-shares. The initiative, with the Hong Kong and Shanghai stock exchanges, is expected to go live in Q4 2014.
“Stock Connect is an exciting development that ultimately opens up greater trading opportunities for the buy-side. Thanks to the enhanced functionality in the TORA Compass OEMS, our clients will not only be able to access Stock Connect, but also make full use of the potential,” said Chris Jenkins, Managing Director of Asia Pacific at TORA.
As part of the enhancements, TORA has introduced several new features that allow for monitoring of the aggregate and daily quota, generating alerts and showing when the stocks are restricted to sells only. In addition, Stock Connect trading will also be available within the TORA Pairs trading tool.
“TORA has been working closely with our broker partners to ensure that we are ready for the launch,” said Jenkins. “This is one the most important developments for China’s capital market structure and TORA clients will have a solution on day one.”