New York-based brokerage GFI Group has signed a multi-year contract to use Torstone’s technology for reconciliations.
Torstone’s reconciliation module is a component of the firm’s flagship Inferno back-office system.
By using history and statistics to provide trend analysis of problems, clearance progress and provide greater diagnostic power for faster resolution of breaks, Torstone’s Inferno for Reconciliations is designed to provide unique, up-to-date reconciliations of positions, cash and trades.
“Working with an agile technology firm such as Torstone means that we’ll be using the latest technology. Their hosting service and upgrade process mean that they will keep us on the latest version so that we don’t need to go through painful and costly upgrades,” says Prash Naik, GFI’s managing director of finance and operations, EMEA.
“Switching your back office technology isn’t as daunting as you’d first think,” says Torstone’s CEO, Brian Collings. “Our modular, flexible technology means that we can quickly and easily take-on a new client’s transaction processing at the level and timescale that suits them.”
Torstone notes that it was able to quickly onboard GFI so that the firm was able to view its own data through Inferno for Reconciliations within a matter of weeks after the contract was taken out.
GFI Group Selects Torstone’s Inferno for Reconciliations
New York-based brokerage GFI Group has signed a multi-year contract to use Torstone’s technology for reconciliations.