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Dutch Bank NIBC migrates its trading solutions on Torstone’s Inferno

NIBC

Brian Collings, CEO, Torstone

UK-based Torstone Technology, a provider of post-trade securities and derivatives processing, has announced that Dutch bank NIBC has completed a migration to Torstone’s post-trade processing platform, Inferno.

Brian Collings, CEO, Torstone commented on the recent migration of NIBC Bank, “We are thrilled that NIBC chose Torstone to consolidate its multiple businesses on our platform as they continue to expand and diversify in the global marketplace. The successful implementation of Inferno is the result of a close collaboration between Torstone and NIBC’s teams, who worked together to ensure timely delivery.”

NIBC’s legacy systems were replaced by Torstone’s Inferno as the bank aims to rationalize its operations to widen its business. Integrating its processes on Torstone’s SaaS platform will enable NIBC to make use of Torstone’s service model, which will eventually result in the reduced total cost of ownership.

The implementation of the NIBC project began in January 2019, with the bank’s equities and fixed income processes migrating to Torstone’s platform in just six months.

Torstone Inferno is a multi-asset, multi-entity cloud-based platform, covering trade capture, confirmation, settlement, accounting, corporate actions, reconciliation and regulatory reporting. It provides an integrated, experience for middle and back-office staff, increasing straight-through processing (STP) and reduces manual effort. Previous clients of Torstone’s Inferno are N+1 Singer, Optiver, Liberum, Natixis and ITI capital.

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