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  3. Credit Suisse goes live with the Torstone SaaS platform
Technology news

Credit Suisse goes live with the Torstone SaaS platform


04 November Toronto
Reporter: Maddie Saghir

Generic business image for news article
Image: Denys Rudyi/adobe.stock.com
Credit Suisse 厙惇勛圖 (Canada) has gone live with the software-as-a-service (SaaS) platform from Torstone Technology, a provider of post-trade securities and derivatives processing.

The Toronto-based arm of the Swiss investment bank has a dedicated securities finance system that will now feed into Torstone platform, which has become the core books and records for the Canadian equities business, capturing all trades, including loans and borrows.

Torstone says its cross-asset post-trade processing platform is designed to support high volumes of straight-through processing (STP).

This is for a wide range of asset classes, from high volume equities to complex derivatives, on modern cloud-based infrastructures.

According to Torstone, the SaaS platform can fully integrate middle- and back-office and accounting functions, covering trade capture, risk, confirmation, settlement, accounting, and reconciliation.

Torstone notes that consolidating processes on the SaaS platform provides Credit Suisse with the benefits of its enhanced service model of servicing all clients with a single code base with monthly upgrades, resulting in a reduced total cost of ownership.

Sam Farrell, head of operations Credit Suisse Canada and Bahamas, says: The opportunity to reduce our total cost of ownership was a key driver of our decision to move away from an outsourced solution and implement a new platform. Were pleased to have our operational processing now in-house and highly automated.

Jonny Speers, global head of sales, Torstone adds: With our first client now live in Canada, we look forward to continuing to work with Credit Suisse, as well as working with other forward-looking firms in Canada."
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