Torstone Technology signs post-trade deal with ABG Sundal Collier

The deal comes six months after Torstone entered the Norwegian market following its connection to the local CSD. 

By Joe Parsons

Torstone Technology has signed a multi-year agreement with Nordic investment bank ABG Sundal Collier to provide access to its cloud-based post-trade platform Inferno.

The deal will see ABG use Inferno to handle its trade capture, confirmations, settlement, accounting and reconciliation, as well as static data management.

As part of the project, Torstone has also built out connectivity to a major Norwegian custodian bank, as well as to regional payment and regulatory reporting service providers. Details of the custodian bank were not disclosed.

“We are working in close collaboration with ABG to further build out this partnership as we prepare to launch the solution towards the end of this year,” said Brian Collings, CEO, Torstone.

The partnership comes six months after Torstone entered the Norwegian market by connecting the Inferno platform to the Norwegian central securities depository (CSD), Verdipapirsentralen ASA.