TORA widens US operations on stronger than expected demand

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fintech insurtech wealthtech regtech ai cybertech esg news

Cloud-based trading technology and financial services provider TORA has bolstered its sales, operations and IT infrastructure in the US to meet high demand.

The uptake of a new suite of products launched last year has been more popular than expected among US customers, the company said in a statement.

TORA CEO Robert Dykes said, “TORA clients trade over 100 financial exchanges globally every day with year-to-date volumes of over $300bn traded, and we’ve seen the volumes in our system more than double in 2016 in US and European markets.”

As part of its US expansion TORA has appointed fintech marketing expert Win Franke, who joins the company after 12 years at the Eze Software Group.

Tora has also bolstered its services and support teams in the US, and has set up a new data center at the NY4 hub of global data center operator Equinix.

The Tokyo-headquartered company, which is also based in San Francisco, raised $36.5m to kick off its online trading technology offering in Asia back in January 2010.

Since then it has expanded its geographical footprint to other international markets as well.

TORA’s serves a wide range of institutional investors including mutual funds, hedge funds and sell-side proprietary trading desks. It is said to process 4% of the Tokyo Stock Exchange’s trading volume.

Copyright © 2016 FINTECH GLOBAL

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