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One of the big providers of cloud-based order and execution management systems, TORA has announced today the launch of a new AI-based product. The company will be complementing its offering with a product called AlgoWheel. The tool is designed to assist companies to create scalable, systematic best execution processes.
The product comes as a response to Article 27 of the MiFID II directive, which increased the minimum required benchmark for best execution. Since the beginning of the year, companies are required to demonstrate that they have taken “all sufficient steps” to achieve best execution. The new directive has resulted in much ... (read more)