Numis to utilise Torstone’s cloud-based platform 17 September 2019London Reporter: Jenna Lomax
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Numis has agreed on a deal with Torstone Technology to utilise its cloud-based platform to process its equities business.
Torstone’s solution Inferno, is a cross-asset, post-trade processing platform which supports middle- and back-office straight-through processing across a range of asset classes.
Inferno will enhance Numis’ operational functions, reduce manual effort and achieve greater operational efficiency.
Tim Valmas, head of technology and operations at Numis, said: “Numis operates at the forefront of UK investment banking. We require a single, integrated, scalable and cloud-based platform capable of providing the breadth of functionality and flexibility to execute our business and continue to offer the level of service our clients expect.”
He added: “We believe that Inferno aligns closely with our strategy as we see trade execution and processing becoming increasingly electronic and automated. Inferno will deliver what we need today and fulfil our future business goals.”
Brian Collings, CEO of Torstone, commented: “Our solution will support Numis in minimising operational risks, reducing costs and achieving greater control. We look forward to working with Numis and continuing to drive efficiencies through our agile, integrated platform.”
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