CREDIT SUISSE GOES LIVE WITH TORSTONE TO AUTOMATE ITS EQUITIES OPERATIONS
London – 3rd November 2020 – Torstone Technology, a leading provider of post-trade securities and derivatives processing, today announces that Credit Suisse Securities (Canada) Inc. has gone live with the Torstone SaaS Platform.
Torstone offers a scalable, cross-asset post-trade processing platform designed to support high volumes of straight through processing (STP) for a wide range of asset classes, from high volume equities to complex derivatives, on a modern cloud-based infrastructure. The Torstone SaaS Platform can fully integrate middle- and back-office and accounting functions, covering trade capture, risk, confirmation, settlement, accounting, and reconciliation, offering a post-trade solution that is fast, flexible, and future-proof.
Consolidating processes on the Torstone SaaS Platform provides Credit Suisse with the benefits of Torstone’s enhanced service model of servicing all clients with a single code base with monthly upgrades, resulting in reduced total cost of ownership.
Commenting on the announcement, Sam Farrell, Director, Head of Operations Credit Suisse Canada & 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 said: “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.”
Brian Collings, CEO, Torstone said: “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.”
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Credit Suisse is one of the world’s leading financial services providers. Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 48,800 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at www.credit-suisse.com.
About Torstone Technology www.torstonetechnology.com
Torstone Technology is a leading SaaS platform for post-trade securities and derivatives processing. We simplify the complexities of post-trade, by connecting global financial industry expertise with post-trade technology innovation. Combining many decades of investment banking expertise with in-depth global financial market and technology industry knowledge, we offer agile, secure, scalable, and cost-effective solutions. Torstone’s Cloud-based, award-winning technology enables global financial firms to reduce costs, achieve greater operational efficiency, drive revenue growth and minimise risk.
We are a fast-growing company headquartered in London, with offices in New York, Toronto, Hong Kong, Singapore, and Tokyo.