Daiwa adopts Torstone Inferno for Myanmar 17 September 2013Dubai Reporter: Jenna Jones
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Daiwa Institute of Research (DIR), the research and consultation arm of Daiwa Securities Group, has adopted Torstone Technology’s Inferno platform as the back office post-trade processing element for Myanmar’s (formerly Burma) new securities industry.
Inferno provides multi-asset post-trade processing and integrates all the applications and controls needed by operations, finance, middle office, risk and compliance into a single but highly modular system.
DIR is working with The Central Bank of Myanmar and Tokyo Stock Exchange to establish the infrastructure for the stock exchange and help develop a capital market in Myanmar.
Koichi Suzuki, senior executive managing director of DIR said: “DIR is committed to making a continued contribution to the sustainable economic growth of Myanmar by providing advanced, secure solutions for the new capital markets. Our relationship with Torstone means that we can deliver first rate, enterprise-class software to the new market participants and a highly cost-effective cloud-computing model, from the outset.”
Brian Collings, CEO of Torstone Technology, commented: “The plans to introduce a stock market are moving fast, but after several months of development our cloud-based application is ready. To be chosen to provide the back office processing in DIR’s front to back office solution, which will be used by brokers in this new trading place, is testament to the operational efficiency and depth of cross-asset functionality of our software.”
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