Daiwa Europe migrates repo to Inferno

The investment banking arm of Japan鈥檚 Daiwa Securities Group has successfully transferred its multi-billion dollar repo business onto Torstone Technology鈥檚 back-office processing platform, Inferno.

Torstone鈥檚 Inferno now processes Daiwa Capital Markets Europe鈥檚 bilateral repo, buy/sell back, triparty, pledge and securities lending trades, and also trades settled via a central counterparty from repo electronic communication networks such as BrokerTec and TP Repo.

Jim Baseley, head of operations at Daiwa Capital Markets Europe, said: 鈥淭his project represents a huge step forward in our programme of organisational change. With the extra capacity and flexibility Inferno gives us we can respond much faster to the market and provide a sound platform to grow our business.鈥�

Torstone CEO Brian Collings added: 鈥淭he success of this project is not only down to the experienced, excellent development team but also the flexible nature of the system. Inferno has been built in such a way that new business logic can be added with relative ease.鈥�

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