Torstone Technology has added an international processing tool for US clients to its flagship post-trade securities and derivatives processing system, Inferno. The new module is designed to help banks and brokers meet the growing appetite for offshore products among US domestic clients seeking to diversify their investment mix.
The Inferno International Processing module (InfernoIP), provides the full operational support needed to meet the more complex demands of offshore investing. With US equity indexes at an all time high, investors are increasingly looking at broader global investment horizons to achieve returns.
InfernoIP automatically includes settlement processing for international trades, with no double keying needed. Manual processes are reduced as trades are automatically fed, along with updates to the settlement status, cross-border currency calculations and local country taxes and fees. This significantly reduces settlement risk and improves straight through processing rates, mitigating costs and the chance of human error. InfernoIP’s Trade pipeline feeds down-stream to the core books and records of existing back-office systems.
Torstone’s CEO, Brian Collings commented: “A changing investment landscape in the US is making tough operational demands of banks and brokers. As they increasingly look to provide their domestic clients with greater variety from offshore and international financial products, many are finding their systems are not set up to accommodate these vehicles efficiently.”
“InfernoIPwill help them to meet this new investor appetite for international exposure, reducing the overall cost of running the back office while ensuring compliance requirements can be easily met, as well as those of clients.”
InfernoIPwas designed and developed by a global investment bank. Following a management buyout led by Torstone Technology, it has now been made available to the wider market. The system is back office agnostic and can be connected to any existing platform.