Daiwa Institute of Research Holdings
Daiwa Institute of Research partners with Torstone to bring Inferno to Japanese and Asian financial markets for post-trade processing
Daiwa Institute of Research Ltd. (DIR) and Torstone Technology, providers of securities and derivatives processing software to the global financial markets, have announced a partnership. Under the announcement today, DIR and Torstone will jointly promote, implement and support Inferno in Japan and the Asia region providing enterprise-level clearing, settlement and integrated accounting on a cloud infrastructure.
Inferno supports multiple assets handling both high volume equities as well as complex derivatives processing and is targeting at regional, mid-sized and global investment banks, asset managers, hedge fund administrators and brokers. Inferno addresses today’s pressing needs to reduce middle and back office costs and support the front office with improved operational efficiency, simplified regulatory compliance, better client service and risk management.
DIR has experienced Inferno first hand. Daiwa Capital Markets Europe has used the product for convertible bonds, associated equity/hedge products, FX/MM treasury functions for some time and is moving cash equities and fixed income securities from a legacy mainframe to Inferno, completing the project in 2013.
In May 2012, DIR announced its participation in a memorandum of understanding together with The Central Bank of Myanmar and Tokyo Stock Exchange Group, Inc. to cooperate toward establishing a securities exchange and supporting the cultivation of a capital market in Myanmar. More recently DIR assisted in the development of a major upgrade of Daiwa Securities’ online trading system in Japan.
Mr. Koichi Suzuki, Senior Executive Managing Director of DIR said: “Seeing Inferno in action across such a diverse range of asset classes has given us the confidence to cement this partnership with Torstone Technology. We believe that there are significant opportunities in Japan and especially in the emerging Asia markets for a modern, cross-product application like Inferno to deliver improved cost-efficiency and operational control. Inferno’s software-as-a-service design also integrates well with our own thin client and cloud infrastructure, which will provide market participants with additional cost-savings.”
Brian Collings, CEO of Torstone Technology commented: “We see tremendous opportunities arising from the development of the financial markets in countries like Myanmar and value the experience of DIR in the region. We look forward to working together.”
About Daiwa Institute of Research Ltd.
Since its founding in 1989, Daiwa Institute of Research has served as the core information-generating arm of the Daiwa Securities Group, separated into three divisions: research, consulting, and system solutions. Our specialists work to provide highly distinctive information services that meet the ever-changing needs of our times.
About Torstone Technology Limited
Torstone Technology, headquartered in London with offices in New York and Hong Kong, provides securities and derivatives processing software to the global financial markets. Its flagship product is Inferno which is designed to support high volumes of straight through processing for settlement of a wide range of asset classes from complex derivatives to high volume equity processing. The software is designed for today’s more fragmented and highly regulated markets.
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