Saxo Bank

Saxo Bank Japan Goes Live With Torstone’s Post-Trade Platform

Saxo Bank - post-trade platformSaxo Bank Securities, the broker’s business in Japan, has gone live with the first phase of its migration to Torstone Technology’s Inferno post-trade platform as it replaces its legal ledger legacy system with Inferno to support regulatory reporting on the cloud for its existing and new equity business. Saxo Bank Japan is able to reduce operational risk and ensure quick and efficient post-trade reporting processes while achieving compliance with Japan’s regulatory requirements.

Brian Collings, Chief Executive Officer of Torstone said: “The launch of the first phase of Saxo Bank Japan’s migration to Inferno is a credit to our local team of experts and shows our trusted position in the Japanese market. We look forward to continuing to strengthen our presence in Japan by supporting Saxo Bank with its regulatory requirements through our fully cloud-hosted solution.”

Francisco Izawa, Chief Executive Officer at Saxo Bank Japan, added: “By replacing our legal ledger with Inferno, Torstone has provided a foundation to help Saxo Bank grow our new equity business while meeting changing regulatory requirements. We look forward to benefitting from greater operational efficiencies in our post-trade reporting processes and eventually adding additional Inferno features in future phases.”

Brian Collings, Chief Executive Officer of Torstone
Brian Collings

The Inferno platform is scalable and offers continuous upgrades which allows the post-trade securities and derivatives processing provider to respond to Saxo Bank Japan’s operational obligations with speed and efficiency. Torstone’s Inferno has a modular cloud-based infrastructure that facilitates Saxo Bank Japan’s phased migration to a complete middle and back-office solution.

Earlier this year, Torstone acquired Percentile, a provider of real-time, cloud-based risk and compliance technology to global financial markets, in order to add its risk management solution to its platform and allowing Torstone 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.

In August, Saxo Bank acquired BinckBank, a Netherlands headquartered online trading service provider, in a deal worth 424 Million Euros (US$ 472 Million). With the milestone acquisition, Saxo Bank Group services now approximately 860,000 clients and holds approximately EUR 46 billion in client assets. The acquisition was aimed at increasing the scale of operations and market share of Saxo Bank in the European market.