Credit Suisse has launched its go live with the software as a service (SaaS) platform from Torstone Technology, a provider of post-trade securities and derivatives processing.
Torstone said its cross-asset post-trade processing platform is designed to support high volumes of straight through processing (STP).
This is for a wide range of asset classes, from high volume equities to complex derivatives, on a modern cloud-based infrastructure.
According to Torstone, the SaaS platform can fully integrate middle- and back-office and accounting functions, covering trade capture, risk, confirmation, settlement, accounting, and reconciliation.
Torstone noted that consolidating processes on the SaaS platform provides Credit Suisse with the benefits of its enhanced service model of servicing all clients with a single code base with monthly upgrades, resulting in reduced total cost of ownership.
Sam Farrell, director, head of operations Credit Suisse Canada and Bahamas, said: “The opportunity to reduce our total cost of ownership was a key driver of our decision to move away from an outsourced solution and implement a new platform. We’re pleased to have our operational processing now in house and highly automated.”
Jonny Speers, global head of sales, Torstone commented: “The project to implement our platform to support Credit Suisse’s institutional equities business here in Canada was a smooth and seamless transition. With our first client now live in Canada, we look forward to continuing to work with Credit Suisse, as well as working with other forward-looking firms in Canada.”
“This success underscores not only the dynamic and flexible nature of our cloud-based platform, but the value it brings to firms seeking a flexible, scalable solution that supports business growth,”Brian Collings, CEO of Torstone concluded.
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