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Credit Suisse to automate equity operations in Canada via Torstone’s technology

Credit Suisse Securities (Canada) Inc. (an arm of Credit Suisse AG) has zeroed in on a post-trade processing platform by London-based Torstone Technology, a global technology supplier for post-trade securities and derivatives processing.

The Canadian arm plans to replace its existing third-party outsourced service with Torstone’s Inferno to automate its equity operations in Canada. The migration to Inferno is at present underway.

Inferno is a multi-asset, multi-entity cloud-based platform that takes care of trade capture, confirmation, settlement, accounting, corporate actions, reconciliation, and regulatory reporting. The platform renders a fully integrated user experience for middle and back-office staff, boosting straight-through processing (STP) and reducing manual effort, the supplier said in a statement.

“We decided to move to Inferno and bring our operational processing back in house in order to leverage a cloud-based, cross-asset platform, providing us greater transparency and control over our business, and presenting an opportunity to reduce our total cost of ownership,” Sam Farrell, Director, Head of Operations Credit Suisse Canada & Bahamas, said.

Jonny Speers, Global Head of Sales, Torstone added, “…Credit Suisse Securities (Canada) Inc. has chosen Inferno to support its institutional equities business here in Canada. As with all of our projects, we are working in close collaboration with the team at Credit Suisse, to ensure a smooth and seamless transition.”

Torstone Technology is headquartered in London, with offices in New York, Toronto, Hong Kong, Singapore, and Tokyo. Its Inferno platform is reportedly fast, flexible and future proof which enables global financial firms to reduce costs, achieve control, minimize risk, and drive operational efficiency.

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