Torstone Acquires Percentile to Add Risk Management Solution

Ricardo Esteves

Ricardo Esteves has seen business and economics through many lenses. He joined the Financial Services Industry in 2009, and has been a financial journalist since 2011. He holds a degree in Business Administration and has experience producing real-time news, from both buy-side and sell-side, as well as for retail traders, brokers and service providers. Esteves' work has appeared in a variety of online publications including FX Street and FinanceFeeds.

Torstone Acquires Percentile to Add Risk Management Solution

April 10, 2019

Percentile’s risk management solution will form a component of Torstone Technology’s platform.

Torstone Technology has closed a deal to acquire Percentile, a provider of real-time, cloud-based risk and compliance technology to global financial markets.

By integrating Percentile’s risk management solution, the provide of post-trade securities and derivatives processing technology is now able to offer a full-service, cross-asset, global post-trade solution which includes risk and compliance.

Torstone expects the deal to open doors to an expanded client base looking for an all-in-one solution that is able to adapt as the markets continue to evolve. The deal proves that Torstone continues to strengthen its post-trade offering as the firm further expands in Europe. The company has recently announced plans to significantly expand its London headquarters following a revenue increase of over 50% year on year in Europe.

Brian Collings, Chief Executive Officer, Torstone Technology
Brian Collings

Brian Collings, Chief Executive Officer, Torstone Technology, said: “As part of our global strategy we continue to invest in expanding our product offering, leveraging cloud-based technology to improve the client experience. Torstone Technology and Percentile have long been closely aligned in terms of company culture and values, as well as our approaches to solution development, and emphasising the benefits of agile, future-proof technology. We are excited to make this acquisition which will enable us to further augment our Cloud service offering in the post-trade space as we continue to expand globally.”

Anthony Pereira, CEO of Percentile, commented: “Percentile continues to innovate and help global financial firms meet the ever-growing demand for more granular, frequent and insightful risk analysis. We are proud of our successes achieved to date and look forward to supporting Torstone’s global growth by helping them form a holistic solution that responds to the industry’s need for an integrated post-trade system, as well as helping firms handle their future risk requirements.”

In May 2017, Torstone Technology made two senior appointments to its European team in order to respond to market demands ahead of MiFiD II. Paul Phillips joined the company as Head of European Sales, and Paul Mundy joined from Broadridge Financial Solutions to manage asset servicing solutions as Product Manager. The company added Mack Gill as Chief Operating Officer (COO) and member of the Board of Directors in September 2017.

In early 2017, Torstone teamed up with LSEG’s UnaVista to deliver an Approved Reporting Mechanism (ARM) that helps its users of regulatory compliance module InfernoRC to comply with Markets in Financial Instruments Regulation (MiFIR) and its transaction reporting rules.

In mid-2018, Torstone agreed to provide its post-trade processing platform, Inferno, to institutional broker ITI Capital in order to manage its growing institutional business, with a view to growing other capital market business lines.

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