Torstone Technologies has announced that it will power the back-office component of the Daiwa Institute of Research's (DIR) end-to-end broker solution, designed for Myanmar's fledgling capital market.
Inferno, Torstone's flagship product, will handle equities and bonds processing duties for the new system. DIR is currently engaged with the Central Bank of Myanmar, formerly known as Burma, as well as with the Tokyo Stock Exchange to build out a functioning capital market for the nation.
The partnership over DIR's new product, which will give brokers in Myanmar a front-to-back technology solution for trading on the new markets, results from an alliance that the two companies entered into one year ago. DIR supports and promote the use of Inferno in Asia as a part of that agreement.
For the new offering, DIR will utilize a private cloud, as managing director and head of global service support department Toshiyuki Fujii, explains with Torstone CEO Brian Collings in the video above.
"The plans to introduce a stock market are moving fast, but after several months of development our cloud-based application is ready," says Collings, in a press statement. "To be chosen to provide the back-office processing in DIR's front-to-back-office solution, which will be used by brokers in this new trading place, is testament to the operational efficiency and depth of cross-asset functionality of our software. We look forward to continuing to work with DIR and are very excited to be involved at this emergent and important development stage of Myanmar's financial markets."
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