Advanced multi-asset execution management
LSEG TORA extends the execution capabilities of investment managers with advanced multi-asset automation, sophisticated execution strategies, spread trading and global broker and venue connectivity across global markets.
Order & execution management
Institutional execution management
Execute across brokers and liquidity sources through a flexible execution management platform designed for institutional trading teams. LSEG TORA helps firms automate execution, manage trading workflows and maintain real-time oversight across the execution lifecycle.
Features:
- Multi-asset execution across equities, fixed income, futures, options, FX and digital assets
- Connectivity to 600+ brokers and venues through LSEG Autex Trade Route
- Access liquidity opportunities through integrated LSEG Autex IOI workflows processing 4 million IOI and trade advertisement messages daily
- Pairs, spread, basket and complex options trading workflows
- WebSocket and FIX APIs for systematic and automated trading
- Comprehensive audit trail across orders, executions and user activity
Institutional order management
Create, manage and monitor orders through a flexible order management platform designed for institutional trading teams. LSEG TORA helps firms streamline order workflows, maintain oversight across the order lifecycle.
Capabilities:
- Basket, parent/child and position-based orders
- Real-time positions and P&L monitoring
- Allocation and commission management
- Compliance and workflow controls
- Comprehensive audit trail across orders and user activity
- WebSocket and FIX APIs for workflow integration and automation
Pairs trading
Execute linked trades across equities, futures, options, FX and digital assets.
Features:
- Relative-values and market-neutral strategies
- Cross-asset spread execution
- Equity pairs and arbitrage workflows
- EFP support
- FX hedging workflow
API & connectivity
Automate workflows through FIX and WebSocket APIs. Connect proprietary models, OMS platforms, portfolio systems and other infrastructure through a flexible integration framework.
Features:
- FIX API Connectivity
- WebSocket API access
- Systematic and algorithmic trading
- Proprietary model integration
- OMS and PMS connectivity
- Real-time order and execution workflows
- Multi-broker connectivity
- Low-touch and automated execution
Stock borrow connectivity
Streamline stock borrow and short-selling workflows through LSEG TORA’s integrated eLocate functionality.
Capabilities:
- Single-click stock locate and borrow requests
- Automated short-selling workflows
- Reduced operational overhead and manual processing
- Connectivity to major broker stock lending desks
Transaction cost analysis (TCA)
LSEG TORA’s clients benefit from post-trade TCA, pre-trade TCA and broker algo recommendations.
Real-time, actionable analytics - Delivers actionable TCA data to portfolio managers and traders across the order life cycle. Customised, delivered and managed by the same people and technology that run all your software.
You decide what you want to see - Adjust analytics parameters on-the-fly so you get to see the data you care about and that your firm measures performance by. Get it in real-time so traders can take action, like routing to venues with better fill quality.
Leverage TCA data to achieve MiFID II best execution compliance - Use integrated pre-trade and intra-day analytics to drive execution strategy selection, and capture the entire process in a best-execution audit trail.
Features:
- Pre- and post-trade TCA from the same provider for an optimised feedback loop
- Our AI-powered pre-trade TCA is a quantitative optimiser providing traders with real-time broker execution strategy recommendations
- Both available in real time in the traders’ blotters or in the visualisation and reporting tool
- View performance versus a range of standardised benchmarks
- Partitioned and ranked by broker, country, sector, strategy or any required split
- Order and venue analysis
- Analytics available in the reporting web tool and in the OEMS blotters
- Interactive dashboards which offer a range of metrics for intra-day decision making and for detailed longer term analysis
Asset classes
Trade across equities, fixed income, FX, derivatives and digital assets though a single execution environment.
Equities
Institutional equity trading workflows.
Global equity trading strategies through a single multi-asset execution environment. From single-stock orders to relative-value and pairs trading strategies, LSEG TORA helps firms manage execution, oversight and automation at scale.
Capabilities:
- Equity execution and broker algorithms
- Basket and program trading
- Pairs trading workflows
- Stock borrow workflow
- Real-time positions and P&L
- Transaction Cost Analysis (TCA)
- Allocation and commission management
- Compliance and workflow controls
- Execution automation and API integration
Derivatives
Global futures and options execution.
Access global futures and options markets through a unified execution platform designed for institutional trading teams. Manage complex trading strategies, custom spread trading workflows and automated execution from a single environment.
Capabilities:
- Global Futures and options trading
- Spread trading workflows
- Complex options basket trading
- Broker algorithm access
- API-driven trading and automation
- Real-time risk monitoring
- Automated routing and execution
- Post-trade allocation management
- Compliance and operational controls
Fixed income
Trading workflows
Access global fixed income liquidity through a single execution environment. LSEG TORA enables traders to manage electronic RFQs, venue access, liquidity discovery and execution workflows while maintaining real-time oversight across the trading cycle.
Capabilities:
- Connectivity to Tradeweb, MarketAxess and other leading venues
- RFQs and ATS trading workflows
- Real-time pricing data, axe and inventory data
- Automated trading rules and voice order capture
- Broker performance analytics
- Real-time positions, reporting and execution oversight
FX
Global FX execution
Access deep FX liquidity and execute foreign exchange workflows through a unified multi-asset trading platform. LSEG TORA combines venue access and execution automation too help firms manage FX trading alongside equities, derivatives and fixed income workflow.
Capabilities:
- Connectivity to LSEG FXall and LSEG FX Matching
- Access liquidity from 200+ FX liquidity providers
- Execute across disclosed and anonymous liquidity pools
- Spot FX, swaps, forwards and NDF RFQ trading workflows
- LSEG TORA spread trading with FX legs
- Manual and API-driven execution
- Central limit order book access
- FX transaction cost analysis (TCA)
- Real-time positions, monitoring and execution oversight
Digital assets
Trading workflows
Connect traditional and digital asset trading through a unified execution environment. LSEG TORA enables institutional trading teams to manage digital asset execution alongside existing trading workflows while maintaining consistent oversight, automation and control.
Capabilities:
- Spot, futures and options trading workflows
- Spread trading across TradFi and digital markets
- API-driven trading and automation
- Real-time positions and execution monitoring
- Compliance and workflow controls
- Integrated multi-asset trading environment
Awards & Industry Recognition
LSEG TORA Services Disclaimer
LSEG TORA Services may be distributed by regulated entities. REDI Global Technologies LLC (“REDI”) and Tora Trading Services, LLC (“Tora US”) are broker-dealers registered with the U.S. Securities Exchange Commission ("SEC”) and members of the Financial Industry Regulatory Authority (“FINRA”). Tora US is also registered with the National Futures Association (“NFA”). Tora Trading Services Limited (“Tora HK”) is registered with the Hong Kong Securities and Futures Commission (“SFC”). Tora US, Tora HK and their affiliates are herein identified as TORA (“TORA”).
TORA® and REDI are registered trademarks in the United States and other countries throughout the world.
This disclaimer (“Disclaimer”) applies to all REDI- and TORA-related World Wide Web pages located within www.lseg.com/tora. in addition to the Terms of Use (collectively, “TORA Websites”).
The information provided on and through the TORA Websites is intended only for institutional accounts as defined by FINRA or equivalent institutional or professional investors as defined under applicable laws and regulations in other jurisdictions. TORA services are not available in all jurisdictions.
Tora Trading Services, LLC and REDI Global Technologies LLC Regulatory Notices
Business Continuity Planning Summary
In accordance with the SEC and FINRA regulations, Tora US and REDI are independently committed to ensuring its continued ability to serve their respective clients and to protect their people and assets. Each broker’s Business Continuity Program (“BCP”) has been developed to provide reasonable assurance that it can continue to do business with little or no disruption if an unplanned interruption occurs at our critical facilities. Each broker has established a process designed to ensure that it is prepared should a business disruption occur. These processes address business disruptions of varying scope, including, but not limited to, medium and large-scale events involving the disruption of business, technology systems, and displaced personnel. Each BCP includes leveraging resources and infrastructure through relocating impacted business units.
Although each broker has taken significant steps to develop and implement a sound BCP and business recovery plan, it cannot guarantee that systems will always be available or recoverable after a disaster or significant business disruption. Each broker believes, however, that its planning for such events is robust and consistent with many of the best practices established within the industry. Any material changes to the above information will be available on TORA Websites or upon request.
Customer Identification Program
Important Information You Need to Know about Opening a New Account:
To help fight the funding of terrorism and money laundering activities, federal U.S. laws require us to obtain, verify and record information that identifies each customer who opens an account or otherwise contracts with Tora US or REDI. Accordingly, when you establish an account or contract with either broker, you will be asked for identification information that will satisfy the respective broker’s Know Your Customer requirements, processes, and procedures.
Privacy
Please review the following below in addition to the Privacy Statement.
Electronic Communications
When you visit Tora Websites or send e-mails to us, you are communicating with us electronically. By doing so, you consent to receive communications from us electronically. We will communicate with you by e-mail or by posting notices on this site. You agree that all agreements, notices, disclosures, and other communications that we provide to you electronically satisfy any legal requirement that such communications be in writing.
Additional Information
If you have any questions regarding these notifications or require further information, please do not hesitate to contact your account representative.