Torstone Technology, the leading provider of post-trade securities and derivatives processing, today announces that a Myanmar-based broker has begun using Inferno, Torstone’s post-trade securities and derivatives processing system.
Inferno will process the broker’s post-trade flow of its equities execution business. Inferno covers the whole trade life-cycle from trade capture through to settlement, accounting and reconciliation.
The announcement follows the news in March this year that Yangon Stock Exchange, Myanmar’s first modern stock exchange, had begun trading. Two companies have since been listed on the exchange with several more expected to carry out IPOs later this year.
Torstone has been active in Myanmar since 2013 when it first began building the relationships to deploy its enterprise-level clearing, settlement and integrated accounting system to provide users with a flexible, modern, cost effective platform on which to run their operations efficiently. The system is also scalable, which allows firms to react to market changes quickly and process increased volumes as more companies list on Yangon Stock Exchange.
Brian Collings, CEO of Torstone Technology, commented: “Asia is a key market for Torstone Technology where we have built strong partnerships with a number of leading financial institutions since first announcing our plans to launch Inferno in Myanmar in 2013. We look forward to helping build support for the country’s capital markets as we provide the essential operational infrastructure for firms who want to invest in Myanmar equities.
The go-live follows Torstone Technology’s recent announcement of plans to further expand in Asia with various senior appointments in Hong Kong and Singapore. In March this year, Torstone Technology also launched a standalone reporting module in Japan to provide full operational support to investment banks trading a wide range of asset classes, who must comply with various reporting requirements mandated by Japanese financial authorities.