Torstone Technology’s middle-office product has been successfully certified DTCC’s central matching platform (CTM) service, enhancing Torstone’s multi-asset workflow.
The completion of the certification allows for quicker and cheaper implementation of the Torstone platform, according to the business. The move also comes in the lead up to the industry’s shift to T+1, wherein efficient post-trade processes are essential in order to align with tighter settlement windows.
David Pearson, product owner for the Torstone middle office, said: “We are focused on providing rich post-trade functionality across multiple asset classes, enabling straight-through processing through the allocation and confirmation workflows, and rapid error identification and resolution for any issues.
“By providing access to CTM as well as ALERT, we’ve taken another step forward on our mission to provide our clients globally with the next generation of middle office functionality to meet the requirements of their buy-side clients and the regulators.”
Read more: Fireside Friday with… Torstone’s Mack Gill
DTCC’s CTM is used by end-user clients to allocate and centrally match transactions across multiple asset classes, globally.
The certification also provides Torstone clients with a more reliable, secure, and streamlined environment in order to manage post-trade activities, as well as benefiting from golden source SSI enrichment, available to them via DTCC’s ALERT.
Val Wotton, managing director and general manager of DTCC Institutional Trade Processing, reinforced the relevance of the shift to T+1, stating: “We are pleased that Torstone has successfully completed product certification of its middle office product with CTM to support mutual clients as they prepare for the industry’s move to T+1. With CTM’s automated central matching and open architecture, firms across the industry can facilitate accelerated settlement. We look forward to helping prepare a broad range of market participants for a seamless transition to T+1.”