Torstone Technology Enhances Integration and Successfully Completes Certification with DTCC’s CTM, Streamlining Industry Workflows
London – 13 November 2023 – Torstone Technology, a leading SaaS provider of post-trade securities and derivatives processing solutions, today announces that it has successfully completed product certification of its Middle Office product with DTCC’s CTM service, further enhancing Torstone’s comprehensive multi-asset workflow for the industry. DTCC is the premier post-trade market infrastructure for the global financial services industry.
DTCC’s CTM is a central matching platform used by end-user clients to allocate and centrally match transactions globally across multiple asset classes.
As global market participants anticipate the transition to a T+1 settlement cycle in 2024, Torstone’s certification with CTM is timely and crucial, providing the global investment community with automated central matching capabilities and facilitating an accurate and efficient post-trade process to align with the upcoming tighter settlement windows.
This certification underscores Torstone’s commitment to investing in technology that addresses the intricate challenges of post-trade processing, thereby empowering clients to navigate the complex financial market with ease and confidence.
By completing the certification process of Torstone’s Middle Office product with DTCC’s CTM service, the Torstone platform is now quicker and cheaper to implement, providing clients with a reliable, secure, and streamlined environment for managing their post-trade activities. In addition, since DTCC’s CTM includes enrichment from DTCC’s ALERT, the industry’s largest online global database for the maintenance and communication of account and standing settlement instructions (SSI), Torstone clients will have the benefit of golden source SSI enrichment available to them.
David Pearson, product owner for the Torstone Middle Office commented, “We are focused on providing rich post-trade functionality across multiple asset classes, enabling straight through processing through the allocation and confirmation workflows, and rapid error identification and resolution for any issues. By providing access to CTM as well as ALERT, we’ve taken another step forward on our mission to provide our clients globally with the next generation of middle office functionality to meet the requirements of their buy-side clients and the regulators”.
Val Wotton, Managing Director and General Manager of DTCC Institutional Trade Processing,
commented, “We are pleased that Torstone has successfully completed product certification of its Middle Office product with CTM to support mutual clients as they prepare for the industry’s move to T+1. With CTM’s automated central matching and open architecture, firms across the industry can facilitate accelerated settlement. We look forward to helping prepare a broad range of market participants for a seamless transition to T+1.”
Brian Collings, CEO of Torstone Technology added, “We are delighted to work with DTCC to offer the CTM trade matching service through our platform to our clients in Asia, the Americas and Europe. With major post-trade structural changes on the horizon, including T+1 for North American markets in 2024, Torstone Technology provides a real-time, event-driven platform to support our clients’ requirements to meet the demands for efficiency and accuracy.”
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About DTCC – https://www.dtcc.com/
With 50 years of experience, DTCC is the premier post-trade market infrastructure for the global financial services industry. From 20 locations around the world, DTCC, through its subsidiaries, automates, centralizes, and standardizes the processing of financial transactions, mitigating risk, increasing transparency, enhancing performance and driving efficiency for thousands of broker/dealers, custodian banks and asset managers. Industry owned and governed, the firm innovates purposefully, simplifying the complexities of clearing, settlement, asset servicing, transaction processing, trade reporting and data services across asset classes and bringing increased security, enhanced resilience and soundness to financial markets. In 2022, DTCC’s subsidiaries processed securities transactions valued at U.S. $2.5 quadrillion and its depository subsidiary provided custody and asset servicing for securities issues from over 150 countries and territories valued at U.S. $72 trillion. DTCC’s Global Trade Repository service, through locally registered, licensed, or approved trade repositories, processes more than 17.5 billion messages annually.
To learn more, please visit us at www.dtcc.com or connect with us on LinkedIn, X, YouTube, Facebook, and Instagram.
About Torstone Technology www.torstonetechnology.com
Torstone Technology is a leading global SaaS platform for post-trade securities and derivatives processing and risk management. We simplify the complexities of operational and risk workflows by connecting global financial industry expertise with technology innovation to provide comprehensive functionality, business process automation, and world-class client service to financial institutions across the globe.
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 minimize risk.
We are a fast-growing company headquartered in London, with offices in New York, Toronto, Hong Kong, Singapore, and Tokyo.