Liberum, a pan-European investment bank, signed a multi-year deal with Torstone Technology to use Inferno in July and went live last week, implementing a complete back office system within four months.
Inferno will process Liberum’s post-trade flow, from trade capture through to settlement, accounting and reconciliation.
The ability to easily scale-up its business operations and update processes to comply with regulatory requirements was a key driver behind Liberum’s move to Inferno.
Inferno is an automated scalable system, which can handle large volumes on hosted commodity hardware. Its real-time, event-driven, service-orientated architecture enables firms to achieve very high rates of straight through processing (STP).
John Truscott, operations director at Liberum, says: “Inferno provides us with a cost effective, scalable platform that allows us to operate more efficiently and respond more dynamically to client and market requirements.”
Torstone’s CEO, Brian Collings, says: “We are delighted that Liberum has chosen Inferno as its back-office system to replace its legacy post-trade operations. Liberum’s choice to use Inferno follows a growing trend among the UK broker community to outsource the technology while insourcing operations. We look forward to supporting Liberum’s growth by removing operational complexity and associated risk and providing a more streamlined back-office system. The project has been a fantastic success and follows the Torstone trend of completing new implementations within budget and on-time.”