ABG Sundal Collier selects Torstone’s middle office solution
By Megha Bhattacharya
Torstone Technology today announced that ABG Sundal Collier (ABG), the Nordic investment bank, is extending its use of the Torstone platform to include middle office workflow in addition to Nordic settlement services. The deployment of Torstone Technology’s middle office platform will enhance operational efficiency through allocation and confirmation workflow, improving straight-through processing of its business and lower operational risk with the removal of manual data processing.
ABG had originally adopted the Torstone platform in September 2019.
Brian Collings, CEO of Torstone Technology, commented, “ABG’s decision to extend its use of the Torstone platform is testament to the quality and breadth of our offering. The middle office is critical to supporting front office performance – automating workflows, creating efficiencies and giving access to real time flow through a fast, flexible system to streamline operations and future-proofs the bank to give an edge over the competition.”
Torstone Technology stated that its middle office solution will give ABG a full multi-asset capability, supporting the operational requirements for equity and fixed income products through a single unified workflow. The module provides integration with CTM, DTCC’s central trade matching system, together with comprehensive support for manual allocation, and a flexible confirmation template capability. It will also bring the full operational workflow onto a cloud-deployed solution underpinned by a single unified data model, allowing ABG to further improve digitalisation and automation through the entire post-trade process.
Geir B. Olsen, CFO at ABG Sundal Collier, said, “This project is a significant step forward in our collaboration with Torstone to leverage a solution configured to our needs. The middle office is a critical part of the trade life cycle, and Torstone’s solution will improve our asset allocation and confirmation workflows.”
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December 08, 2021
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