TORA Clearpool

TORA Crosspoint is an innovative new off-exchange liquidity venue that allows traders to leverage the benefits of off-exchange liquidity without the typical trade-offs. TORA Crosspoint functions as a non-displayed matching engine and does not require any workflow changes.

Liquidity without Compromises

TORA Crosspoint allows traders to benefit from off-exchange liquidity without requiring any of the cumbersome tasks typically associated with dark pool usage. Traders do not need to change their workflow to participate. The order will automatically be shadowed in TORA Crosspoint and will cross incrementally or in full if a match is found. Orders can be routed to any broker or third-party destination using all order types – worked, DMA or algorithms. Traders benefit from working an order in a traditional venue and capturing liquidity off-exchange.

Access to Deep Liquidity

TORA Crosspoint offers clients access to significant existing liquidity in Tora’s aggregate liquidity pool, which accounts for approximately 4% of total trading volume on the Tokyo Stock Exchange.

Achieve Optimal Results

TORA Crosspoint allows clients to achieve price improvement by crossing within the spread or at a benchmark price such as VWAP. TORA Crosspoint is the only venue that offers VWAP block crossing on a continuous basis.

References

Tora Trading Services Limited Alternative Liquidity Pool - Crosspoint