Under the announcement at SIBOS today, DIR and Torstone will jointly promote, implement and support Inferno in Japan and the Asia region providing enterprise-level clearing, settlement and integrated accounting on a cloud infrastructure.

Inferno supports multi-asset operations and integrates all the applications and controls needed by operations, finance, middle office, risk and compliance into a single but highly modular system. Targeting regional, mid-sized and global investment banks, asset managers, hedge fund administrators and brokers, Inferno supports multiple assets handling both high volume equities as well as complex derivatives processing. Inferno addresses today's pressing needs to reduce middle and back office costs and support the front office with improved operational efficiency, simplified regulatory compliance, better client service and risk management.

DIR provides research, consultancy services as well as systems integration services. Earlier this year, the organisation announced its participation in a memorandum of understanding together with The Central Bank of Myanmar (formerly Burma) and Tokyo Stock Exchange Group, Inc. to cooperate toward establishing a securities exchange and supporting the cultivation of a capital market in Myanmar. More recently DIR assisted in the development of a major upgrade of the infrastructure platform for Daiwa Securities' online trading system in Japan.

DIR has experienced Inferno first hand. Daiwa Capital Markets Europe has used the product for convertible bonds, associated equity/hedge products, FX/MM treasury functions for some time and is moving cash equities and fixed income securities from a legacy mainframe to Inferno, completing the project in 2013.

Mr. Koichi Suzuki, Senior Executive Managing Director of DIR said: "Seeing Inferno in action across such a diverse range of asset classes has given us the confidence to cement this partnership with Torstone Technology. We beliieve that there are significant opportunities in Japan and especially in the emerging Asia markets for a modern, cross-product application like Inferno to deliver improved cost-efficiency and operational control. Inferno's software-as-a-service design also integrates well with our own thin client and cloud infrastructure, which will provide market participants with additional cost-savings."

Brian Collings, CEO of Torstone Technology commented: "We see tremendous opportunities arising from the development of the financial markets in countries like Myanmar and value the experience of DIR in the region. We look forward to working together."