Torstone Technology and Daiwa Capital Markets Hong Kong (Daiwa HK) have transferred onto Torstone’s post-trade processing platform, Inferno.
Torstone’s Inferno now processes all of Daiwa HK’s settlements, confirmations and reconciliations for its equity and fixed income business, provides the finance team with a platform for journal postings, generates risk reports and provides a platform for use by legal and compliance departments.
By using Inferno, Daiwa HK is able to consolidate its business onto a single operating platform, and drive down operating costs.
The platform is an automated scalable system, capable of handling volumes on hosted hardware. Its real-time, event-driven and service-orientated architecture is designed to help firms to achieve high rates of straight through processing (STP).
Terry Mackey, COO at Daiwa HK, commented: “By adopting Inferno, Daiwa HK has improved STP performance, increased business capacity and agility, and sizeable cost savings through business synergies, therefore successfully positioning Daiwa for future growth.”
Brian Collings, CEO of Torstone, commented: “Switching back office technology isn’t as daunting as some firms think.”
He added: “Our modular, flexible technology means that we can quickly and easily manage a client’s transaction processing, through a phased and incremental approach, whilst advising clients as to how they can consolidate other business processes as and when they need to.”
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