Singer selects Torstone Technology’s MiFIR solution

Torstone Technology,  has announced that N+1 Singer, an independent corporate broking, advisory and trading house focusing on small & mid-cap companies, has selected Torstone’s InfernoRC module in order to comply with the transaction reporting obligations of the Markets in Financial Instruments Directive (MiFID II) and its accompanying Regulation (MiFIR).

The news follows Torstone Technology’s announcement in March this year that it began live testing the new InfernoRCmodule with its clients.

InfernoRC will enable N+1 Singer to comply with the expanded scope and level of prescription of investment firm’s transaction reporting obligations in MiFIR, including the much wider range of financial instruments and disclosure of additional mandatory data. In addition to sourcing and validating data, InfernoRC accounts for data security, data privacy and data quality requirements on the information collated from across a multitude of disparate systems.

Tim Cockroft, CEO at N+1 Singer, said: “We have a long-standing relationship with Torstone Technology having used Inferno for many years. The modular platform provides us with a flexible, easily scalable solution that enables us to effectively grow our business and respond to evolving market and regulatory requirements in a timely manner. We have selected Torstone’s MiFIR transaction reporting service as their offering provides speed to market, as well as reliability. We look forward to continuing to work with Torstone as we prepare for the MiFID II implementation later this year, ready for the deadline in January 2018.”

Brian Collings, CEO, Torstone Technology, said: “We are extremely pleased that N+1 Singer has chosen to implement the InfernoRC module for transaction reporting under MiFIR. This extension of our existing relationship with N+1 Singer is testament to Torstone’s commitment to its clients to build highly automated, scalable and flexible solutions designed for rapid deployment.”