Torstone Technology has entered the Norwegian market by connecting its flagship Inferno platform to Verdipapirsentralen ASA (VPS), Norway’s Central Securities Depository.
Inferno is a modern, flexible, scalable and cost-effective post-trade platform which will enable seamless connectivity to VPS for firms trading VPS-registered securities, such as shares listed on the Oslo Stock Exchange (Oslo Børs) as well as bonds and commercial paper issued in Norway. Its real-time, event-driven, service-orientated architecture enables firms to achieve very high rates of straight through processing (STP).
At the request of a market participant, VPS had a joint venture with Torstone testing the connectivity to meet the requirements for the Norwegian market. The system connectivity was built and tested in a short period of time, and the overall process went very smoothly, producing successful results.
VPS commented, “We were pleased with the results of the initial testing phase of the implementation and are looking forward to continuing working with Torstone as the project evolves.”
Jonny Speers, Global Head of Sales, Torstone, added: “We are delighted with the positive feedback we received from VPS following the initial connectivity testing phase. The cooperation was our first project in Norway and serves as another great example of Torstone’s ability to quickly enter a new market to provide a fully featured, value-add solution, therefore emphasising the flexible nature of Inferno. We are excited about the opportunities in the Norwegian market as we look to strengthen our presence there.”