provides a fully integrated, feature-rich user experience for middle- and back-office staff, increasing straight-through processing (STP) and reducing manual effort.Credit Suisse will deploy Torstone Technology’s cloud-based post-trade platform Inferno as it automates its equities operations. Inferno is a perfect fit for Credit Suisse’s current business needs as it the firm replaces its existing third party outsourced platform and service for an enhanced service model, resulting in a reduced total cost of ownership and increased efficiency.
Sam Farrell, Director and Head of Operations of Credit Suisse Canada & Bahamas, said: “We decided to move to Inferno and bring our operational processing back in house in order to leverage a cloud-based, cross-asset platform, providing us greater transparency and control over our
business, and presenting an opportunity to reduce our total cost of ownership. Our teams are working well together, and we look forward to leveraging the benefits of the platform going forward.”
Jonny Speers, Global Head of Sales at Torstone said: “We are thrilled that Credit Suisse Securities (Canada) Inc. has chosen Inferno to support its institutional equities business here in Canada. As with all of our projects, we are working in close collaboration with the team at Credit Suisse, to ensure a smooth and seamless transition. We look forward to working with Credit Suisse
over the coming months and years ahead, and to further growing our franchise here in Canada.”
Brian Collings, Chief Executive Officer at Torstone added: “Our relationship with Credit Suisse proves again Torstone’s ability to quickly enter new markets, underscoring the dynamic and flexible
nature of our cloud-based platform.
Torstone Technology was recently granted the status of Financial Services Competency Partner in the Amazon Web Services (AWS) Partner Network, a testament to its years of success in engineering Inferno to utilize VPC technology to provide security and availability to its clients. The cross-asset, post-trade SaaS was launched in 2013 when Torstone extended its service from in-house hosting to fully managed software as a service (SaaS) availability within a VPC.
Inferno was recently deployed by institutional broker ITI Capital in order to manage its growing institutional business, with a view to growing other capital market business lines.
In April 2019, Torstone closed a deal to acquire Percentile, a provider of real-time, cloud-based risk and compliance technology to global financial markets. The deal allows Torstone to offer a full-service, cross-asset, global post-trade solution which includes risk and compliance.