Liberum, a leading pan European investment bank signed a multi-year deal with Torstone Technology to use Inferno in July and went live last week, implementing a complete back office system within 4 months.
Inferno will process Liberum’s post-trade flow, from trade capture through to settlement, accounting and reconciliation.
The ability to easily scale-up its business operations and update processes to comply with regulatory requirements was a key driver behind Liberum’s move to Inferno. Using the modern Inferno Platform, the investment bank has much more flexibility to develop its business while driving down costs. Inferno is an automated scalable system, which can handle large volumes on hosted commodity hardware. Its real-time, event-driven, service-orientated architecture enables firms to achieve very high rates of straight through processing (STP).
John Truscott, Operations Director at Liberum said: “Inferno provides us with a cost effective, scalable platform that allows us to operate more efficiently and respond more dynamically to client and market requirements.”
Torstone’s CEO, Brian Collings commented: “We are delighted that Liberum has chosen Inferno as its back-office system to replace its legacy post-trade operations. Liberum’s choice to use Inferno follows a growing trend among the UK broker community to outsource the technology while insourcing operations. We look forward to supporting Liberum’s growth by removing operational complexity and associated risk and providing a more streamlined back-office system. The project has been a fantastic success and follows the Torstone trend of completing new implementations within budget and on-time.”