A Myanmar-based broker has gone live with Torstone Technology’s Inferno platform for post-trade securities and derivatives processing.
The new mandate will see Inferno process the post-trade broker’s equities execution business, covering the whole trade lifecycle from trade capture to settlement, accounting and reconciliation.
The development in Myanmar is part of Torstone’s wider plans to expand in Asia, it also comes after Myanmar’s Yangon Stock Exchange started trading in March. Two companies have since listed on the stock exchange, and more are expected to announce their IPOs later in the year.
The Inferno platform aims to provide a flexible and cost-effective platform for running operations as efficiently a possible. It is also designed to be scalable so it can react to changes in the market and adapt as more companies come on to the new stock exchange.
Brian Collings, CEO of Torstone Technology, commented: “Asia is a key market for Torstone Technology, where we have built strong partnerships with a number of leading financial institutions since first announcing our plans to launch Inferno in Myanmar in 2013. We look forward to helping build support for the country’s capital markets as we provide the essential operational infrastructure for firms who want to invest in Myanmar equities.”
NO FEE, NO RISK 100% ON RETURNSIf you invest in only one asset servicing news source this
year, make sure it is your free subscription to Asset Servicing Times
Image: Shutterstock 