Capital markets firm Davy taps Torstone for post-trade processing solution
Ireland’s Davy Capital Markets has selected software-as-a-service (SaaS) provider Torstone Technology and its Torstone Platform solution as it looks to modernise its post-trade processing operations.
Davy Capital Markets deploys Torstone Platform solution
Headquartered in London, Torstone Technology is a global SaaS platform for post-trade securities and derivatives processing and risk management.
Its Torstone Platform offering is a multi-asset, cloud-native solution which handles electronic trade capture, allocation, confirmation, settlement, accounting, reconciliation and regulatory reporting.
Davy’s chief information officer (CIO) Killian O’Connell says the firm, which manages more than €16 billion worth of client assets, has maintained its own post-trade platform for many years but recognised the need to upgrade to a new solution that would future-proof its tech stack.
“As we continue to grow our business and deliver on the needs of our clients, we do so with confidence that Torstone’s post-trade platform has the flexibility and scalability to match our pace of change and the user interface and efficiency requirements of our clients,” O’Connell says.
Designed for middle- and back-office staff, Torstone says the “agile and fully integrated” post-trade platform increases automated straight-through processing (STP) and enhances operational efficiencies by reducing manual effort.
