Panmure Gordon Hotsource their Back Office Technology with Torstone’s Inferno
Panmure select Torstone for post-trade processing
London — 16 March 2015 — Panmure Gordon, a leading independent institutional stockbroker and investment bank has signed a multi-year deal with Torstone Technology, to use Inferno, Torstone’s post-trade securities and derivatives processing system. Inferno will process Panmure’s post-trade flow, from trade capture through to settlement, accounting and reconciliation.
The ability to consolidate multiple vendor and in-house systems into a single, unified Back-Office platform was a key driver behind Panmure’s decision to switch to Inferno. Using the Inferno Platform, the broker has much more flexibility to connect to up-and-down stream systems, as well as drive down cost. 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 process (STP).
Nick Cook, Managing Director of Operations at Panmure said: “As we continue to grow in an ever competitive market space and provide a world class, full function stockbroking service to our clients the need for flexible state of the art technology at the heart of our business is ever more important. Inferno provides us with a flexible, modern, cost effective platform on which to run our operations efficiently.”
Torstone’s CEO, Brian Collings commented: “We are setting a trend in the UK broker community, by providing a consolidated modern, hosted system to replace multiple, disparate systems running in-house operations. Inferno addresses the cost-critical needs of mid-tier firms to outsource the technology while insourcing operations. Equally Inferno scales to meet the demands of third party business process outsourcers for a fully functioned foundation platform to service multiple clients — including the large institutions.”
“The message we are hearing from the market is that firms are looking beyond the traditional outsource models, for a more hybrid approach, allowing them to benefit from efficiency gains, yet crucially maintaining control of a core function of their business. We are helping our clients achieve the most cost-effective and operationally efficient mix of outsourcing and insourcing, this is what we call hotsourcing” added Jonny Speers, Global Head of Sales at Torstone.
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Torstone Technology, headquartered in London with offices in New York, Hong Kong and Singapore, provides securities and derivatives post-trade processing software to the global financial markets. Its flagship product is Inferno which is designed to support high volumes of straight through processing for settlement of a wide range of asset classes from complex derivatives to high volume equity processing. The software is designed for today’s more fragmented and highly regulated markets.
About Panmure Gordon http://www.panmure.com/
Since 1876, Panmure Gordon & Co has been connecting businesses with the capital to help them grow. A trusted adviser to more than 130 UK listed companies. Clients operate in a wide range of industry sectors and in multiple geographies. As a corporate and institutional stockbroker and investment bank with deep knowledge of the London markets, offering clients a tailored, integrated service that is relationship led and outcomes driven.