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Torstone Technology’s Inferno honoured with Systems in the City ‘Most Effective STP Solution’ award.

Torstone Technology the creator of Inferno, believed to be the first major release of post-trade securities and derivatives processing software in almost a decade, has quickly gained industry recognition by winning the Systems in the City award for ‘Most Effective STP Solution’.

Receiving the award at last night’s glittering awards’ ceremony which took place at The Law Society in London, Brian Collings, CEO of Torstone Technology said: “This is a terrific accolade and evidence that Inferno is indeed blazing a new trail for settlement systems. It is no mean feat to bring a new settlement software service to the market in these challenging times and I would like to thank the whole Torstone team in London, New York and Hong Kong for their hard work and dedication. I’d also like to extend our thanks to our users for their enthusiasm and support.”

Each year independent financial services consultancy Goodacre, which runs the Systems in the City web site and vets suppliers to FSA authorised companies for accreditation, organises the awards’ ceremony in recognition of the systems suppliers within the financial services industry. A prerequisite for nominees is that products and services have to reach a high standard before entries to the Awards can be accepted. An independent panel of judges, including a banker, a barrister and an accountant, then determine the Award winners.

Torstone Technology also recently received GoodAccreditation, gaining a place on the Systems in the City reference web site which is a a source of reference for FSA authorised companies researching computer services, systems, datafeeds and third party clearing. Stephen Pinner, managing director of independent financial services consultancy Goodacre, which manages said: “To be accredited firms need to demonstrate the capabilities and qualities of their systems. We also take up references directly from users and to maintain their presence, vendors must go through this vetting process annually. Torstone Technology has done very well to gain accreditation and win this award so early and as a consequence will see their profile rise in the industry.”

Inferno is an enterprise-level clearing, settlement and integrated accounting application supporting multi-asset, multi-currency and multi-location operations. Targeting regional and mid-sized investment banks, asset managers, hedge funds and brokers, it addresses today’s pressing needs to reduce middle and back office costs and supports the front office with improved operational efficiency, simplified regulatory compliance, better client service and risk management.

Brian Collings, CEO of Torstone Technology said: “We believe that Inferno is software for our times. It’s strength lies in the ability to meet the processing requirements of a wide range of instruments, complex trades, multiple venues and the demands of very high volumes with a single software solution. It is gratifying that it looks like others share that belief, by making us winners last night.”