The brokerage is live with a SaaS-based middle- and back-office processing system.
Dublin-based brokerage Davy Capital Markets has gone live with the Torstone Post Trade Platform for middle- and back-office processing to bolster the Davy Group division’s operational efficiency and regulatory compliance, officials say.
The Software as a Service (SaaS) platform is from Torstone Technology, a post-trade securities and derivatives processing provider, based in London.
“This successful deployment follows the partnership announcement in 2022 when Davy Capital Markets selected Torstone to advance its post-trade processing capabilities,” according to the announcement.
The Torstone Post Trade Platform offers a suite of features: regulatory reporting, general ledger accounting, reconciliations, and CREST, Sub-Agent, and Euroclear Ireland settlement, officials say.
“Our decision to deploy the Torstone Post Trade Platform underscores our commitment to providing our clients with the highest levels of service, automation, and efficiency,” says Allison Connolly, head of capital markets operations at Davy Capital Markets, in a prepared statement.
Davy Capital Markets is part of the Davy Group, which consists of the brokerage, a wealth manager, an asset manager, and a financial advisory group. Davy Group has offices in Dublin, Belfast, Cork, Galway, and London, and offers services to private clients, small businesses, corporations, and institutional investors, officials say.
Established in 1926, the Davy Group has more than 800 people managing €16 billion of client assets, with offices in Dublin, London, and throughout the island of Ireland, officials say. The Bank of Ireland Group bought Davy Group in 2022.
Torstone has offices in New York, Toronto, Hong Kong, Singapore, and Tokyo.
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