MainFirst, an independent German-headquartered European financial services firm specialising in equity brokerage, capital markets and asset management, has completed the migration to Torstone’s middle and back office platform, Inferno.
Inferno is Torstone’s core post-trade processing platform, a multi-asset, multi-entity system, covering trade capture, confirmation, settlement, accounting and reconciliation.
MainFirst chose to implement Torstone’s Inferno in August 2016, following a pilot project which included German specific confirmations and transaction reporting, as well as connectivity to Deutsche Boerse. MainFirst went live on Inferno in March 2017, migrating all post-trade processing away from the incumbent third party system.
Michael Lange, partner, head of operations, MainFirst, says: “Inferno provides us with a flexible, scalable solution that enables us to effectively grow our business and respond to evolving market and regulatory requirements. The integrated nature of the system has helped to streamline our back office operations process, as we can now operate through a single, unified user interface.”
Jonny Speers (pictured), global head of sales, Torstone, says: “We were delighted that MainFirst chose Torstone, and are very pleased with the positive feedback that we’ve received from them following the implementation. MainFirst is our first client in Germany, so the project included a number of market specific enhancements, in addition to the standard configuration and deployment of the system. The combined team of Torstone and MainFirst worked very well together, ensuring an on-time, on-budget delivery.”
Brian Collings, CEO, Torstone, adds: “This project is another great example of Torstone's ability to enter a new market and quickly bridge the gap to provide a fully featured, value-add solution, demonstrating the dynamic nature of the platform. Furthermore, our flexible approach to infrastructure and hosting meant that we have been able to meet MainFirst’s regulatory requirements in a post-Brexit scenario, by hosting the system locally in Frankfurt. The modular nature of our platform means that MainFirst can extend the system as needed, as new regulatory requirements enter into force.”
