Torstone Opens Office in Canada After Partnering With Credit Suisse

Torstone TechnologyThe leading provider of post-trade securities and derivatives processing has opened a new office in Toronto to better support its growing base of North American bank and broker clients.

Brian Collings, Chief Executive Officer at Torstone Technology, said: “Canada is similar to other global markets in that firms are prioritising the necessary migration from legacy technology to modern and flexible technology platforms. Our Toronto office will allow us to expand our capacity to help Canadian banks and brokers to reduce their total cost of ownership, minimise risk, and drive operational efficiency while achieving regulatory compliance. We will also leverage our Toronto team to support our overall North American business expansion and augment our global client support model.”

Providing an integrated, feature-rich user experience for risk managers, middle- and back-office staff, Torstone’s platform increases straight-through processing (STP) and reduces manual effort with its multi-asset cloud-based platform. The post-trade service covers trade capture, confirmation, settlement, accounting, risk management, corporate actions, reconciliation, and regulatory reporting.

The firm has most recently been selected by Credit Suisse Canada to replace the firm’s existing third-party outsourced operations in order to support its institutional equities business. The bank selected Torstone’s Inferno to reduce the total cost of ownership and increase efficiency. At the time, Credit Suisse Canada’s Head of Operations Sam Farrel 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.”

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 Technology 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.