Torstone Technology, a leading provider of post-trade securities and derivatives processing systems, today announced that it is collaborating with Tosho Computer Systems (TCS), a provider of financial services hosting including connectivity to every exchange in Japan, to facilitate connectivity to the Japan Securities Depository Center (JASDEC), Japan’s central securities depository.
A leading global corporate and investment bank with significant operations in Japan has gone live with Torstone’s cloud-based platform, including JASDEC connectivity to the Book-Entry Transfer Systems (BETS).
Japan has long been a priority growth market for Torstone, where the firm has significantly expanded both its client base and local office over the past four years. Torstone provides cloud-based post-trade solutions to Japanese financial institutions, including cross-asset class regulatory reporting covering both yen and non-yen clients and institutional reporting. Torstone currently services a number of Japanese firms and the local branches of international firms, with a dedicated Tokyo client service centre for the Japanese market.
Through this partnership, Tosho Computer Systems provides its expertise in the Japanese securities market as well as its own datacentre to deliver proximity connectivity services for Torstone. This secure and low-latency access to Japanese securities market infrastructure is now readily available to every market participant using the post-trade processing platform offered by Torstone.
The new direct connectivity to JASDEC delivered by Torstone and Tosho Computer Systems completes a full post-trade lifecycle solution for foreign and domestic brokers in Japan, as well as significantly reducing the operational cost for firms to offer both yen and non-yen products.
Yoshinobu Takebayashi, President of Tosho Computer Systems, said: “We are excited to be working alongside Torstone to bring next generation real-time cloud technology to Japanese firms, helping them move away from legacy technology that hinders their ability to keep up with the evolving markets.”
Mack Gill, COO of Torstone Technology, said: “Japan is a core market for us, and we are pleased to partner with Tosho Computer Systems, an established provider of proven solutions to Japanese financial institutions, as we continue to strengthen our support for our clients’ regulatory obligations and market infrastructure connectivity requirements across the region.”
Adding to this, Gill said: “Market participants in Japan are increasingly faced with regulatory and cost pressures, leading to post-trade processing challenges. We see rising demand for new, agile cloud-based technology, while at the same time emphasis continues to be placed on local market expertise. Torstone’s local presence and partnerships, and ongoing commitment to the Japanese market, position us well to support our growing Japanese client base.”