ABG Sundal Collier has signed a multi-year deal with post-trade and derivatives processing services provider Torstone Technology.
The Nordic investment bank will gain access to Torstone’s Inferno cloud-based platform to handle trade confirmations, settlement, accounting and reconciliation, as well as data management.
Torstone said the partnership is testament to its growth in the region, after it entered the market in January by connecting the Inferno platform to the Norwegian Central Securities Depository, Verdipapirsentralen ASA.
“Our partnership with ABG Sundal Collier proves again Torstone’s ability to quickly enter new markets, underscoring the dynamic and flexible nature of our platform,” said Torstone’s chief executive, Brian Collings.
“We are working in close collaboration with ABG to further build out this partnership as we prepare to launch the solution towards the end of this year.”
ABG Sundal Collier’s chief financial officer, Geir Olsen, added that the bank has been encouraged by the rapid progress made on the project, and will leverage Inferno’s full capabilities once the sitcom-over is completed later this year.