Peel hunt selects torstone technology’s mifir solution
London – 30 August 2017 – Torstone Technology, the leading provider of post-trade securities and derivatives processing, today announces that Peel Hunt, the leading independent corporate broking, advisory and trading house has selected Torstone’s InfernoRC module in order to comply with the transaction reporting obligations of the Markets in Financial Instruments Directive (MiFID II) and its accompanying Regulation (MiFIR).
The news follows Torstone Technology’s announcement in March this year that it began live testing the new InfernoRC module with its clients.
InfernoRC will enable Peel Hunt to comply with the expanded scope and detail in transaction reporting obligations in MiFIR, including the much wider range of financial instruments and disclosure of additional mandatory data which the regulation requires. In addition to sourcing and validating data, InfernoRC accounts for data security, data privacy and data quality requirements on the information collated from across a multitude of disparate systems.
Sunil Dhall, Chief Financial & Operating Officer at Peel Hunt, said: “We have a long-standing partnership with Torstone Technology having used Inferno for over 10 years. The modular platform provides us with a flexible, easily scalable solution. We have selected Torstone’s MiFIR transaction reporting service as their offering provides speed to market, as well as reliability. We look forward to continuing to work with Torstone as we prepare for the MiFID II implementation deadline.”
Brian Collings, CEO, Torstone Technology, said: “We are extremely pleased that Peel Hunt has chosen to implement the InfernoRC module for transaction reporting under MiFIR. This extension of our existing partnership with Peel Hunt is testament to Torstone’s commitment to its clients to build highly automated, scalable and flexible solutions designed for rapid deployment.”
InfernoRC provides a comprehensive workflow for transaction reporting; managing the capture and storage of sensitive information, the data enrichment and report generation function, alerting and resolution of exceptions, the submission of transaction reports, monitoring the file delivery and validation function as well as the execution to the National Competent Authority (NCA) via an Approved Reporting Mechanism (ARM). Inferno’s core reconciliation function provides validation of the report submitted to the NCA by the ARM, a key requirement of the regulation.
Torstone’s InfernoRC is ARM agnostic and will provide connectivity to enable transaction reporting to multiple ARMs, including Unavista, Abide and DTCC.
About Peel Hunt:
Peel Hunt is an independent corporate broking/advisory house that has highly rated, sector-aligned Research, Sales and Corporate teams, with a current retained corporate client list of over 120 listed companies and a trading platform that makes markets in c.3,500 equity and fixed income products.
About Torstone Technology www.torstonetechnology.com
Torstone is a leading global provider of cross-asset securities and derivatives post-trade processing technology. Torstone’s cloud-based, award-winning platform is fast, flexible and future-proof. It enables global financial firms to reduce their total cost of ownership, achieve greater control, minimise risk, and drive operational efficiency. Combining many decades of investment banking expertise with in-depth global financial market and technology industry knowledge, Torstone offers agile, secure, scalable, and cost-effective solutions.
Torstone Technology is headquartered in London, with offices in New York, Toronto, Hong Kong, Singapore, and Tokyo.