Torstone’s Inferno goes live in Myanmar’s securities market
Torstone Technology says an unnamed Myanmar-based broker has started using Inferno, its post-trade securities and derivatives processing system.
Inferno will process the broker’s post-trade flow of its equities execution business. The system covers the “whole” trade life-cycle from trade capture through to settlement, accounting and reconciliation.
Brian Collings, CEO of Torstone Technology, says Asia is a “key market” and the firm is “helping build support for the country’s capital markets as we provide the essential operational infrastructure for firms who want to invest in Myanmar equities”.
The announcement follows the news in March when Yangon Stock Exchange, Myanmar’s first modern stock exchange, began trading. Two companies have since been listed on the exchange with several more expected to carry out IPOs later this year.
Torstone says it has been active in Myanmar since 2013 when it first began “building the relationships” to deploy its enterprise-level clearing, settlement and integrated accounting system.
Torstone also plans to further expand in Asia with various senior appointments in Hong Kong and Singapore.
In March this year, it launched a standalone reporting module in Japan.