Daiwa goes live with torstone technology’s inferno in hong kong
Inferno Delivers Improved STP, Increased Business Capacity and Cost Savings
London — 20 May 2015 — Torstone Technology, a leading provider of securities and derivatives processing software to the global financial markets, and Daiwa Capital Markets Hong Kong (Daiwa HK), the investment banking arm of Daiwa Securities Group, today announced that Daiwa’s multi-asset Hong Kong Agency business has successfully transferred onto Torstone’s post-trade processing platform, Inferno. This represents the latest phase of a long-term collaboration to implement best of breed back-office technology across multiple asset classes at Daiwa HK.
Torstone’s Inferno now processes all of Daiwa HK’s settlements, confirmations and reconciliations for its equity and fixed income business; provides the finance team with a platform for journal postings, generates risk reports; and provides a platform for use by legal & compliance.
By using Inferno, Daiwa HK is able to consolidate its business onto a single operating platform, and drive down operating costs. Inferno is an automated scalable system, capable of handling significant volumes on hosted hardware. Its real-time, event-driven, service-orientated architecture helps firms to achieve very high rates of straight through processing (STP).
This project has also further enhanced the on-going alliance between Torstone and the Daiwa Institute of Research (DIR). DIR provides research and consultancy services as well as systems integration services. Mr Koichi Suzuki, Deputy President at DIR said: “We have built a very strong working relationship with Torstone over the past three years which has allowed major projects to run smoothly, be completed on-time and fulfil all of the business’ requirements.”
Commenting on the project, Terry Mackey, Chief Operating Officer at Daiwa HK, said: “By adopting Inferno, Daiwa HK has improved STP performance, increased business capacity and agility, and sizeable cost savings through business synergies, therefore successfully positioning Daiwa for future growth.”
“Switching back office technology isn’t as daunting as some firms think” explains Brian Collings, Torstone’s Chief Executive Officer. “Our modular, flexible technology means that we can quickly and easily manage a client’s transaction processing, through a phased and incremental approach, whilst advising clients as to how they can consolidate other business processes as and when they need to.”
About Daiwa Capital Markets Hong Kong (http://www.hk.daiwacm.com/)
Daiwa Capital Markets Hong Kong is the wholly-owned investment banking arm of Daiwa Securities Group. The award winning firm provides integrated financial services including brokerage, capital raising, IPOs, M&A and other creative financial solutions to clients through a network of more than 20 offices across Asia, the Middle East, Europe and North America.
Daiwa Securities Group (http://www.daiwa-grp.jp/english) is one of the largest brokerage and banking groups in Japan and employs approximately 14,000 professionals worldwide providing comprehensive financial services, including retail brokerage, investment banking and asset management. Daiwa Securities Group has been in continuous operation in the financial services industry since 1902.
About DIR – Daiwa Institute of Research (http://www.dir.co.jp/english/)
Since its founding in 1989, Daiwa Institute of Research Group has served as a comprehensive think tank of Daiwa Securities Group, combining research, consulting and system functions. Our specialists work to provide highly distinctive information services that meet the ever-changing needs of our times.