Tora Adds Short Sale Functionality to Compass to Address New Regs

Chris Jenkins, Tora

Tora Compass, the vendor's compliance engine, has been enhanced to prevent users from breaching the JFSA's new uptick rule, which goes into effect on Nov. 5, once the trigger price has been reached, Chris Jenkins, Asia-Pacific managing director at Tora, tells Buy-Side Technology.

"The Japan short-sale rule—aka, the ‘uptick rule'—was originally much simpler," he says. "The uptick rule stipulates that a trader cannot short-sell if a stock was on a downtick—i.e., the last price was lower than the o