Torstone Technology, a leading provider of post-trade securities and derivatives processing systems, today announces that it has signed a multi-year agreement with Numis the leading independent Investment Bank to implement Torstone’s award-winning, cloud-based platform, Inferno, to process their equities business.
Torstone Inferno is a scalable, cross-asset, post-trade processing platform which supports middle and back-office straight through processing (STP) across a wide range of asset classes. Inferno integrates middle, back-office and accounting functions covering trade capture, confirmation, settlement, accounting and reconciliations. This will enable Numis to enhance its operational functions, reduce manual effort and achieve greater operational efficiency.
Commenting on the agreement, Tim Valmas, Head of Technology and Operations at Numis, said, “Numis operates at the forefront of UK Investment Banking. We require a single, integrated, scalable and cloud-based platform capable of providing the breadth of functionality and flexibility to execute our business and continue to offer the level of service our clients expect. We believe that Inferno aligns closely with our strategy as we see trade execution and processing becoming increasingly electronic and automated in a post MiFID2 world. Inferno will deliver what we need today and fulfil our future business goals.”
Brian Collings, CEO, Torstone, said, “We’re delighted that Numis has chosen Inferno to manage its post-trade processing needs. Our solution will support Numis in minimising operational risks, reducing costs and achieving greater control. We look forward to working with Numis and continuing to drive efficiencies through our agile, integrated platform.”