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.”