Torstone secures sub-ledger mandate 11 January 2016London Reporter: Stephanie Palmer
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Optiver has adopted Torstone Technology’s sub-ledger system, Inferno SL to provide balance sheet consolidation and reconciliations with clearing banks.
Inferno SL creates a double-entry, multi-currency, multi-entity environment that can generate financial reports including trial balance and profit and loss reports.
Optiver has been running the system on a pilot scheme since October 2015, and will roll it out to support its entire European business.
Through the pilot, the system proved that it could handle high-volume performance requirements. During tests, it reportedly processed more than a million trades per hour.
Torstone CEO Brian Collings said: “Inferno SL is designed to consolidate transaction details as well as accounting information across an organisation’s entire business. Torstone's modular, flexible technology means that we can quickly and easily take on a new client’s transaction processing at the level and timescale that suits them.”
Torstone’s entire Inferno back-office system is designed to be scalable to large volumes. It is designed to help clients to achieve high rates of straight-through processing and to react to changes in the market as quickly as possible.
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