Torstone Technology has expanded its Inferno post-trade derivatives and processing system, Inferno, to include an international processing tool for US clients.
The new module is designed to help banks and brokers to cater to a growing appetite for offshore products, as US investors move towards diversifying their investment mix.
US equity indexes are at an all-time high, meaning that investors are looking at broader global investment horizons to achieve higher returns.
The Inferno International Processing system intends to provide the level operational support required to manage the complex demands of offshore investing, including automatically settling processes for international trades.
It reduces manual processes as trades are automatically fed, reducing settlement risk and improving straight-through processing rates, while also mitigating the risk of human error. Settlement status updates, currency calculations and local taxes and fees are also automatically calculated.
The trade pipeline feeds down-stream to the core back-office systems, and, as Inferno is designed to be agnostic, it can connect to any existing back-office platform.
Torstone CEO Brian Collings said: “A changing investment landscape in the US is making tough operational demands of banks and brokers. As they increasingly look to provide their domestic clients with greater variety from offshore and international financial products, many are finding their systems are not set up to accommodate these vehicles efficiently.”
“Inferno will help them to meet this new investor appetite for international exposure, reducing the overall cost of running the back office while ensuring compliance requirements can be easily met, as well as those of clients.”
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