Torstone Readies Inferno for FTT
Inferno's online historical transaction and reference data will simplify backdated tax calculations and back reporting for clients soon affected by FTT, according to Brian Collings, Torstone CEO.
The taxation logic has already been applied for French and Italian FTT and will be amended automatically for the nine other European countries set to implement the tax.
"FTT is a core systems upgrade as far as we are concerned, which means that it will be automatically provided to clients," says Collings. "The inherent design, support for a broad range of asset classes within one system and the ease of centralising trade and reference data from disparate front office systems, has made it relatively straightforward for us to implement the changes in Inferno and provide the data required for FTT regulatory reporting."
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