Torstone Technology integrates DTCC’s CTM trade matching service ahead of T+1

“We are focused on providing rich post-trade functionality across multiple asset classes, enabling straight-through processing through the allocation and confirmation workflows, and rapid error identification and resolution for any issues.”

Torstone Technology, a frontrunner in the SaaS landscape for post-trade securities and derivatives processing, has announced a significant milestone in its integration capabilities.

The company has successfully completed product certification with the Depository Trust & Clearing Corporation’s (DTCC) Central Trade Manager (CTM) service, marking a pivotal advancement in streamlining multi-asset workflow within the industry.

This achievement comes as the financial world braces for the transition to a T+1 settlement cycle in 2024, highlighting the timeliness and importance of Torstone’s latest accomplishment.

Major post-trade structural changes on the horizon

DTCC’s CTM platform is a central matching service, crucial for end-user clients to allocate and match transactions globally across multiple asset classes. The certification of Torstone’s Middle Office product with CTCC’s CTM is a testament to the company’s commitment to refining post-trade processing challenges, thereby facilitating a more accurate and efficient post-trade process. This enhancement is particularly relevant as the industry prepares for tighter settlement windows associated with the upcoming T+1 settlement cycle.

David Pearson, the product owner for Torstone’s Middle Office, commented on this development: “We are focused on providing rich post-trade functionality across multiple asset classes, enabling straight-through processing through the allocation and confirmation workflows, and rapid error identification and resolution for any issues. By providing access to CTM as well as ALERT, we’ve taken another step forward on our mission to provide our clients globally with the next generation of middle office functionality to meet the requirements of their buy-side clients and the regulators.”

Val Wotton, Managing Director and General Manager of DTCC Institutional Trade Processing, expressed satisfaction with Torstone’s achievement: “We are pleased that Torstone has successfully completed product certification of its Middle Office product with CTM to support mutual clients as they prepare for the industry’s move to T+1. With CTM’s automated central matching and open architecture, firms across the industry can facilitate accelerated settlement. We look forward to helping prepare a broad range of market participants for a seamless transition to T+1.”

Brian Collings, CEO of Torstone Technology, emphasized the strategic importance of this partnership: “We are delighted to work with DTCC to offer the CTM trade matching service through our platform to our clients in Asia, the Americas, and Europe. With major post-trade structural changes on the horizon, including T+1 for North American markets in 2024, Torstone Technology provides a real-time, event-driven platform to support our clients’ requirements to meet the demands for efficiency and accuracy.”

Torstone Technology is renowned for its global SaaS platform catering to post-trade securities and derivatives processing and risk management. The company merges decades of investment banking expertise with technological innovation, offering secure, scalable, and cost-effective solutions. Headquartered in London, Torstone has a global presence with offices in key financial hubs.

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