SAXO BANK JAPAN ENHANCES REGULATORY REPORTING IN THE CLOUD WITH TORSTONE’S INFERNO
London – 26 November 2019 – Torstone Technology, a leading global provider of post-trade securities and derivatives processing, today announced that Saxo Bank Securities Ltd. (“Saxo Bank Japan”), the investment and trading specialist, has gone live with the first phase of its migration to Inferno.
Saxo Bank Japan has replaced its legal ledger legacy system with Inferno to support regulatory reporting on the cloud for its existing and new equity business. Through Inferno, Saxo Bank Japan is able to reduce operational risk and ensure quick and efficient post-trade reporting processes while achieving compliance with Japan’s regulatory requirements.
Inferno’s cloud-based infrastructure is modular which facilitates Saxo Bank Japan’s phased migration to a complete middle and back office solution by allowing the gradual deployment of components. The Inferno platform is also scalable and offers continuous upgrades which allows Torstone to respond to Saxo Bank Japan’s operational obligations with speed and efficiency.
Commenting on the announcement, Brian Collings, CEO, Torstone said: “The launch of the first phase of Saxo Bank Japan’s migration to Inferno is a credit to our local team of experts and shows our trusted position in the Japanese market. We look forward to continuing to strengthen our presence in Japan by supporting Saxo Bank with its regulatory requirements through our fully cloud-hosted solution.”
Francisco Izawa, CEO, Saxo Bank Japan added: “By replacing our legal ledger with Inferno, Torstone has provided a foundation to help Saxo Bank grow our new equity business while meeting changing regulatory requirements. We look forward to benefitting from greater operational efficiencies in our post-trade reporting processes and eventually adding additional Inferno features in future phases.”
– Ends –
About Saxo Bank Securities Ltd. www.home.saxo/ja-jp
Saxo Bank Securities Ltd. is a wholly-owned subsidiary of Saxo Bank A/S and is a part of Saxo Group. It is licensed by the FSA and is a member of the JSDA, FFAJ, and CFAJ.
Saxo Bank Securities Ltd. provides online trading and investment tools to both retail and institutional clients.
The Saxo Group is a global online investment bank regulated in the EU, headquartered in Copenhagen and operating in financial centres around the world including London, Singapore, Paris, Zurich, Dubai and Tokyo.
— ends —
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.