Leading UK broker, N+1 Singer has renewed its multi-year agreement with Back Office vendor Torstone Technology, signalling its continued commitment to Inferno, the vendor’s post-trade processing platform.
Inferno processes N+1 Singer’s post-trade flow, from trade capture through to settlement, accounting and reconciliation, via its real-time, event-driven, service-orientated architecture, helping the firm to achieve very high rates of STP.
N+1 Singer originally chose Inferno in 2013, as part of a plan to move away from an outsourced model and bring its operations back in-house. Now, with Torstone providing a fully managed, hosted technology solution, the firm has been able to optimise its operational function, and is well placed to respond to the continued wave of regulation that the market is experiencing, whilst staying focused on delivering a quality service to its clients.
Tim Cockroft, CEO of N+1 Singer said: “We are pleased to further commit to the relationship with Torstone. Our company remains at the forefront of UK plc, providingequity for the growth of the small and mid-cap sector. In order to maintain our competitive edge, we need reliable, efficient and scalable systems such as Torstone’s Inferno.”
Torstone’s CEO, Brian Collings added: “We are delighted to extend our agreement with N+1 Singer, which we see as clear evidence of our continued commitment to the UK broker market. We recognise the pressures that firms in this sector are facing, as compliance with new regulation, such as MiFID II, continues to dominate the landscape. This makes it more important than ever to ensure that the middle and back office function is optimised and automated. By providing a modern, efficient technology platform, Inferno addresses the cost-critical needs of mid-tier firms, allowing them to concentrate on delivering value to their customers.”