Daiwa Capital Markets Europe (Daiwa Europe), the investment banking arm of Japan’s Daiwa Securities Group, has selected Torstone Technolgy’s back-office platform, Inferno, to handle the firm’s multi-billion dollar repo business.
Daiwa Europe will use Inferno—a clearing, settlement and integrated accounting system—to process bilateral repo, tri-party repo, buy/sell back, pledge and stock lending trades, and trades settled through a central counterparty.
Torstone’s software provides Daiwa Europe with straight-through processing and cost savings through business synergies. “This project represents a huge step forward in our program of organizational change. With the extra capacity and flexibility Inferno gives us we can respond much faster to the market and provide a sound platform to grow our business,” says Jim Baseley, London-based head of operations at Daiwa Europe.
“The success of this project is not only down to the experienced, excellent development team but also the flexible nature of the system. Inferno has been built in such a way that new business logic can be added with relative ease,” says Brian Collings, CEO of Torstone.
Daiwa Europe Selects Torstone's Back-Office Platform for Repo
Daiwa Capital Markets Europe (Daiwa Europe), the investment banking arm of Japan’s Daiwa Securities Group, has selected Torstone Technolgy's back-office platform, Inferno, to handle the firm's multi-billion dollar repo business.