Credit Suisse goes live with Torstone to automate equities operations

Credit Suisse Securities (Canada) Inc has gone live with the Torstone SaaS Platform.

Torstone offers a scalable, cross-asset post-trade processing platform designed to support high volumes of straight through processing (STP) for a wide range of asset classes, from high volume equities to complex derivatives, on a modern cloud-based infrastructure. The Torstone SaaS Platform can fully integrate middle- and back-office and accounting functions, covering trade capture, risk, confirmation, settlement, accounting, and reconciliation, offering a post-trade solution that is fast, flexible, and future-proof.

Consolidating processes on the Torstone SaaS Platform provides Credit Suisse with the benefits of Torstone’s enhanced service model of servicing all clients with a single code base with monthly upgrades, resulting in reduced total cost of ownership.

Sam Farrell, Director, Head of Operations Credit Suisse Canada & 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. We’re pleased to have our operational processing now in house and highly automated.”

Jonny Speers, Global Head of Sales, Torstone, says: “The project to implement our platform to support Credit Suisse’s institutional equities business here in Canada was a smooth and seamless transition. 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.”

Brian Collings, CEO, Torstone, says: “This success underscores not only the dynamic and flexible nature of our cloud-based platform, but the value it brings to firms seeking a flexible, scalable solution that supports business growth.”