Torstone Technology, a provider of post-trade securities and derivatives processing, has announced that it has expanded in Canada, opening a new office in Toronto.
The announcement comes after Credit Suisse Canada selected Torstone’s post-trade processing platform, to replace the firm’s existing third-party outsourced operations in order to support its institutional equites business.
Torstone’s platform covers trade capture, confirmation, settlement, accounting, risk management, corporate actions, reconciliation and regulatory reporting, providing a fully integrated, feature-rich user experience for risk managers, middle- and back-office staff, increasing straight through processing (STP) and reducing manual effort.
Brian Collings, Chief Executive, Torstone Technology, commented on the news:
Canada is similar to other global markets in that firms are prioritising the necessary migration from legacy technology to modern and flexible technology platforms. Our Toronto office will allow us to expand our capacity to help Canadian banks and brokers to reduce their total cost of ownership, minimise risk, and drive operational efficiency while achieving regulatory compliance.
We will also leverage our Toronto team to support our overall North American business expansion and augment our global client support model.