Tora announces direct access to CLSA BlocSec from TORA Compass

First Published 9th July 2009

New venue to provide anonymous, block sale crossing network that eliminates leakage and reduces potential for negative market impact

Ned Phillips, CEO, BlocSec:

"We are excited to be one of the first dark pools focusing on block sized transactions in Asia."

Tora has announced the availability of direct access via TORA Compass to BlocSec, the first Asian dark pool to cater to both the buy side and the sell side. BlocSec was launched by CLSA Asia-Pacific Markets earlier this year, and is now offering block trading services in Hong Kong in addition to those already available in Singapore and Japan.

"Dark pools have become an essential part of trading strategy in the US and Europe and we are excited to be one of the first dark pools focusing on block sized transactions in Asia," said BlocSec CEO Ned Phillips. "We are pleased that Tora's extensive set of buy-side clients trading Asia can seamlessly execute their trades on BlocSec and enjoy high speed order matching and execution, directly accessible via TORA Compass."

"Off-exchange liquidity is becoming an increasingly important component of a successful trading strategy in many Asian markets," commented Robert Dykes, CEO of Tora. "Adding BlocSec to the existing alternative liquidity choices in TORA Compass provides a significant new capability for our buy-side clients, especially those who need to execute block trades in an efficient manner."

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