18 November 2017
visit www.aciworldwide.com

Daiwa goes live with Torstone Inferno in Hong Kong

20 May 2015  |  1377 views  |  0 Source: Torstone

Torstone Technology, a leading provider of securities and derivatives processing software to the global financial markets, and Daiwa Capital Markets Hong Kong (Daiwa HK), the investment banking arm of Daiwa Securities Group, today announced that Daiwa’s multi-asset Hong Kong Agency business has successfully transferred onto Torstone’s post-trade processing platform, Inferno.

This represents the latest phase of a long-term collaboration to implement best of breed back-office technology across multiple asset classes at Daiwa HK.

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 & compliance.

By using Inferno, Daiwa HK is able to consolidate its business onto a single operating platform, and drive down operating costs. Inferno is an automated scalable system, capable of handling significant volumes on hosted hardware. Its real-time, event-driven, service-orientated architecture helps firms to achieve very high rates of straight through processing (STP).

This project has also further enhanced the on-going alliance between Torstone and the Daiwa Institute of Research (DIR). DIR provides research and consultancy services as well as systems integration services. Mr Koichi Suzuki, Deputy President at DIR said: “We have built a very strong working relationship with Torstone over the past three years which has allowed major projects to run smoothly, be completed on-time and fulfil all of the business' requirements.”

Commenting on the project, Terry Mackey, Chief Operating Officer at Daiwa HK, said: “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.”

“Switching back office technology isn’t as daunting as some firms think” explains Brian Collings, Torstone’s Chief Executive Officer. “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.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.vasco.comvisit www.solutions.lexisnexis.comvisit www.atos.net

Top topics

Most viewed Most shared
Ripple boss predicts central bank adoption of blockchainRipple boss predicts central bank adoption...
12918 views comments | 21 tweets | 20 linkedin
Singapore central bank open sources blockchain prototypesSingapore central bank open sources blockc...
11792 views comments | 15 tweets | 28 linkedin
Digital receipt startup Flux scores game-changing deal with BarclaysDigital receipt startup Flux scores game-c...
9912 views comments | 20 tweets | 36 linkedin
AmEx partners Ripple and Santander for blockchain-enabled cross-border paymentsAmEx partners Ripple and Santander for blo...
9402 views comments | 13 tweets | 39 linkedin
UK cryptocurrency exchange startup launches debit card for spending bitcoinUK cryptocurrency exchange startup launche...
7944 views comments | 26 tweets | 37 linkedin

Featured job

Find your next job