With the Torstone Platform, you can handle trade capture, risk, clearing, and reconciliation all in one place. Our platform manages trade capture from many standard systems including Fidessa, Bloomberg, ULLINK, Sophis, Imagine, Front Arena and Murex, while automating the self-clearing process, including messaging to and from SWIFT, CREST, and secure cash payments. You can also automate CREST transformations and stock borrows, and connect directly to a Swift Alliance Gateway or SWIFT service bureau. Both internal and external reconciliations can be handled through our platform without the need for third-party reconciliation products.
Transactions from multiple front office systems and locations can be captured and enriched by the Torstone Platform Pipeline, ensuring all transactions—regardless of asset class—are consolidated onto a single platform at the earliest opportunity.
For each product type and counterparty combination, Torstone’s Platform automatically determines the type of confirmation and the proper delivery mechanism. For equity and bond trades, the platform can generate printed trade confirmations, or send automatic confirmations to the client via email or fax. You can also send block and allocation confirmations via CTM and MT300 confirmations via the SWIFT network.
The Torstone Platform has a robust workflow system for derivative transactions, with the ability to attach e-mails and documents, and e-signing abilities for the final confirmation. You can also upload statuses from matching systems such as DTCC.
The Torstone Platform comes with three reconciliation engines, tailored to the reconciliation of cash, positions and trades. Simply load your data into the reconcilers (from Swift messages and other sources) and configure the reconciliation engine with rules to automatically match transactions: any remaining breaks are aged and assigned to users. The Platform’s user-friendly screens display breaks and allow the recording of any investigations undertaken. And you can configure tolerances for each reconciliation and create write-offs automatically.
The Torstone Platform has some of the highest STP rates in the industry thanks to automatic two-way settlement messaging and status updates over the SWIFT network. These messages are updated in real-time via a suite of screens that identify exceptions and show the current status of open trades. And because you have access to this data at lightning speed, Torstone’s Platform can help you manage the settlements process faster and easier than ever before. Our solution is equipped to handle ISO15022 standard messaging, CREST’s DEX format, and ISO20022.
The Torstone Platform models the terms of a CSA, then uses these terms — together with existing positions and cash data — to calculate collateral calls and to warn you when a call is expected. At any time, you can generate a collateral calculation statement that can then be sent to the counterparty to make a call.
The Torstone Platform allows you to book stock borrow, loan trades, and their associated returns. You can handle both cash and non-cash collateral. With our solution, your Operations department can calculate fees and rebates, and review a series of reports to ensure the correct amounts are paid and received each month. Torstone’s Platform also supports CREST stock borrows, creating a stock borrow return automatically.
DELIVERY AND CASH MANAGEMENT
Torstone’s Platform cash and inventory management screens help you control the settlements process faster and with more accuracy. Through these screens, you can view and manage cross-border transfer of securities and geta real-time view of current positions.
In addition, the platform gives you the agility to handle classic repos, buy-sellbacks and tri-party repos, plus the full range of mid-life events. The Torstone Platform calculates interest accrual and cost of carry, integrated with cash bond positions, to give you a day-to-day view of your lent or borrowed positions and P&L, independent of the front office. It also supports integrated collateral management and exposure calculation for trades under GMRA, with instruction of cash and non-cash collateral. Tri-party activity is also supported, with all movements of collateral sent back into the platform’s trade capture system and stock record.
The Torstone Platform automatically processes incoming corporate action data and provides a user-friendly event diary and workflow system. Users can review corporate action data and then generate advice notices for clients that detail the corporate action and any action the client needs to take. These notices are automatically e-mailed to the clients containing details of their holdings. Consolidated tax voucher statements can also be generated automatically for clients.
Corporate action postings are largely automated, including all dividend accruals and payments, and automatic adjustment of open trades based on transformation messages received from a CSD such as CREST.
The Torstone Platform is powerful enough to be your organisation’s central data repository and act as the master copy for static data, distributing this information to other systems as required. Static data — received via feeds from the major vendors — is cleaned and automatically merged with your existing data. This gives you the power to model complex instruments and hierarchical organisations that contain data on calendars, markets, regions, credit ratings and currencies in addition to your own data.
The Torstone Platform client custody module allows trades to be automatically generated that represent your clients’ view of the world. The postings from these trades give you the client stock, P&L and cash data that you need to generate client holding and cash statements at month end. These are then automatically emailed to clients.
Torstone’s Platform can also produce a Client Money and Asset Return (CMAR) report with the data required for input onto the CMAR return, as well as a resolution pack to satisfy regulations. Internal and external client money reconciliations are also available.