N+1 Singer optimises outsourcing model with Torstone's Inferno
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N+1 Singer take Torstone's Inferno
N+1 Singer optimises outsourcing model with Torstone's Inferno
London— 8 April 2014 — Leading UK broker, N+1 Singer has signed a multi-year deal with Torstone Technology, to use Inferno, Torstone’s post-trade securities and derivative processing system. Inferno will process Singer’s post-trade flow, from trade capture through to settlement, accounting and reconciliation.
The main drivers behind N+1 Singer’s decision to choose Torstone’s back office software were improved business agility, greater straight through processing (STP) and a reduction in total cost of ownership across the back office function. Inferno is a modern, scalable system, capable of handling N+1 Singer’s significant volumes yet on commodity, hosted hardware. Its real-time, event-driven, service-orientated architecture helps firms to achieve very high rates of STP.
Mid-tier firms such as N+1 Singer who outsource operations’ functionality to a third party provider find they still need to run an in-house operations team to maintain business relationships and resolve STP issues. Now with Torstone providing a fully managed, hosted technology solution and highly automated software, N+1 Singer was able to make a strategic decision to bring back full control and operation of back office functions, in-house. Inferno’s highly automated functions will allow N+1 Singer to maximise the return from the existing operations department, handle the volumes without any increase in staff or concerns over future IT provisioning, while anticipating improved service for clients.
“Outsource your technology but keep control of your business in-house, is a very clear message that we are hearing from the market” commented Jonny Speers, global head of sales at Torstone.
Tim Cockroft, CEO of N+1 Singer said: “We are very excited by this project. Our company is at the forefront of UK plc, providing equity for the growth of the small and mid-cap sector. In order to maintain our competitive edge, we need reliable, efficient and scalable systems such as Torstone’s Inferno.”
Torstone’s CEO, Brian Collings added: “An exciting aspect of Inferno is its flexibility. We are delighted to help another UK broker by providing modern, efficient technology to run their in-house operations. Inferno addresses the cost-critical needs of mid-tier firms to outsource the technology while insourcing functionality. Equally it 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 firm expects to be fully live with Torstone’s Inferno in early summer.
About Torstone Technology http://www.torstonetechnology.com/
Torstone Technology, headquartered in London with offices in New York, Singapore and Hong Kong, provides securities and derivatives 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 N+1 Singer http://www.n1singer.com/
Founded in April 2006, N+1 Singer has grown rapidly to become one of the top 5 corporate advisory and broking businesses in the UK middle and small cap markets. N+1 Singer is a well established and profitable business built upon 3 principles: equity ownership, partnership structure and long term relationships.
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Press enquiries to:
Giles Lamb, Marketing Manager
Torstone Technology Limited 1st Floor
1 Alie Street, London E1 8DE
Tel: +44 20 7418 7918
pr@torstonetech.com