Daiwa Europe Transfers Repo Business to Torstone’s Inferno

Daiwa Europe has migrated its repo business onto Torstone's back office processing platform.

Torstone Technology, a London-based provider of derivatives processing software, announced it has migrated Daiwa Capital Markets Europe’s clearance and settlement repo business onto its back-office processing platform, Inferno.

Daiwa Europe, the investment banking arm of Japan's Daiwa Securities Group, says it has improved its straight-through processing (STP) performance, increased its business capacity, and reduced cost.

"This project represents a huge step forward in our program of organizational change," says Jim Baseley, head of operations at Daiwa Europe. "With the extra capacity and flexibility Inferno gives us, we can respond much faster to the market and provide a sound platform to grow our business."

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