Davy selects Torstone Technology to enhance its post-trade capabilities
By Joy Dumasia
Torstone Technology, a global SaaS platform provider for post-trade securities and derivatives processing, announced that Davy Capital Markets, Ireland’s capital markets firm and a member of the Bank of Ireland Group, has entered into an agreement to utilise the Torstone Platform for its post-trade processing.
The Torstone Platform is a multi-asset, multi-entity, cloud-based solution covering electronic trade capture, allocation, confirmation, settlement, accounting, corporate actions, reconciliation and regulatory reporting. The platform provides a comprehensive, flexible user experience for middle- and back-office staff, increasing automated straight-through processing (STP) and achieving greater operational efficiency for clients reducing manual effort.
Killian O’Connell, Chief Information Officer at Davy, said: “We have built and maintained our own post-trade platform for many years, and this has served us very well, as it has been designed to our specific requirements. Looking ahead, we recognised the need to constantly evolve and future-proof our technology stack, and once we decided to buy versus build, Torstone offered the standout solution. As we continue to grow our business and deliver on the needs of our clients, we do so with significant confidence that our post-trade platform has the flexibility and scalability to match our pace of change and the user interface and efficiency requirements of our clients.”
Brian Collings, CEO of Torstone Technology, said: “We are delighted that Davy has taken the decision to move to our agile and fully integrated Post Trade platform. We are looking forward to partnering with Davy and are committed to providing them with the flexible, scalable solution that they need as their business evolves.”
IBS Intelligence reported that Torstone Technology, a global SaaS platform for post-trade securities and derivatives processing, announced that Numis, an independent UK investment bank and corporate adviser, has extended its use of the cloud-based Torstone Post Trade platform to manage its obligations under the Central Securities Depositories Regulation (CSDR).
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February 28, 2024
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