TORA Awarded “Qualified Outsourcing Provider” Status from the Tokyo Metropolitan Government

 TORA Awarded “Qualified Outsourcing Provider” Status from the Tokyo Metropolitan Government
30.05.2019 07:40 am

TORA Awarded “Qualified Outsourcing Provider” Status from the Tokyo Metropolitan Government

Asset Management , Cloud , SaaS

Global Institutional trading and portfolio management systems provider TORA has today announced that it has been awarded “Qualified Outsourcing Provider” status from the Tokyo Metropolitan Government (TMG) as part of their wider initiative to support the growth of asset management companies located in the Japanese capital.

Following the 2017 release of its “Global Financial City: Tokyo Vision,” the TMG established a subsidy system to partially cover the outsourcing costs relating to middle and back office operations incurred by asset management businesses. To be eligible for this program, businesses receiving a subsidy, as well as their outsourcing provider, had to apply to the TMG to be recognized as a “Qualified Emerging Asset Manager” or a “Qualified Outsourcing Provider”. TORA has been named one of only eight “Qualified Outsourcing Providers” that are able to provide middle and back office technology to asset management businesses (both Japanese and global) with operations in Japan.

TORA were awarded this status for their leading Portfolio Management System (PMS). TORA’s PMS system manages a fund’s software, hardware, data feeds and integrates it all into one system that enables the portfolio manager to make real-time, efficient and detailed trading decisions. The PMS system can be fully integrated with TORA OMS, EMS, Analytics, Ticketing and Risk.

“Any early stage managers in Japan are heavily burdened by the costs associated with managing middle and back office operations. This programme by the Tokyo Metropolitan Government to subsidize some of the costs of entry for new managers in Japan is a very welcome initiative. We are delighted to be recognised as a key provider, and, to participate in a strategy that encourages the continued growth of the Japanese asset management industry,” said Robert Dykes, CEO of TORA.

He added: “TORA is very proud to have been named as a ‘Qualified Outsourcing Provider’ after participating in a competitive application and interview process. We are looking forward to supporting our asset manager partners in Japan as they work to provide value to investors both in Japan and globally.”


Related News

Trustology launches new solution to offer businesses a faster, safer way to secure and manage their cryptoassets

Trustology, a UK based fintech company, focused on accelerating the crypto economy, today announced the beta launch of its Business Account Designed to safeguard cryptoassets... Read more »

SILEX Investment Managers Adopts Broadridge’s Investment Operations Platform

Broadridge Financial Solutions, Inc. (NYSE:BR), a global Fintech leader and part of the S&P 500® Index, announced... Read more »

Caisse des Dépôts selects Murex to Support its Asset Management Business

Following a competitive selection process, Caisse des Dépôts (CDC), a long-term public investor addressing the general interests and economic development of French territories... Read more »

Objectway recognised by Client as a key player in reporting solution delivering a better client experience

Objectway achieved recognition from Celent, the renowned research and advisory firm focused on financial services technology, as a key player in the report Client... Read more »

Integral announces a 3.0% increase in year over year average daily volumes

Integral, the technology partner trusted by leading banks, brokers, and asset managers to help them outperform their competition in the foreign exchange market, reported today... Read more »

trueDigital rebrands as Tassat, reflecting the growth and evolution of the company within the institutional digital asset market

trueDigital, the global financial technology company which has quietly been building out an end to end digital asset trading and settlement ecosystem for the traditional and... Read more »

Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel