Forefront Communications

The TRADE: TORA Preps for Shorter Settlement Cycle with New Tool

Mark Dowd

Mark Dowd

TORA has developed a service aimed at shortening the settlement cycle ahead of MiFID II’s T+1 transaction reporting requirements.

Known as TORA Ticketing, the service provides users with pre- and post-trade allocation, trade reconciliation, commission management and investment book of records (IBOR) functions.

It is available within TORA’s order, execution and portfolio management system or as a stand-alone service to be integrated with third-party systems.

MiFID II will require T+1 trade reporting and EMIR already requires T+2 derivatives trade reporting. In the US, the SEC recently shortened the settlement cycle to T+2 as of September this year.

TORA Ticketing was developed to help investment companies navigate these requirements and to avoid processing errors which can be costly to firms.

Read the full article here.

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