About a-team Marketing Services
The knowledge platform for the financial technology industry
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Torstone Acquisition of Percentile Delivers More than the Sum of its Parts

Subscribe to our newsletter

Torstone Technology’s recent agreement to acquire Percentile will add risk management and compliance technology to the company’s post-trade securities and derivatives processes, making its Inferno platform a full-service, cross-asset, global post-trade solution. The deal will also add a compliance solution for Fundamental Review of the Trading Book (FRTB) regulation to Torstone’s portfolio.

The acquisition will be Torstone’s first, but maybe not its last, as it expands its product offer and builds on geographic growth. CEO Brian Collings says: “By covering everything in the post-trade space, we can offer clients a consolidated solution that improves total cost of ownership (TACO).”

Torstone works predominantly with mid-size to large sell-side banks and brokers, and engages with CEOs, chief operating officers and heads of operations. With the acquisition of Percentile, the company will also capture chief risk officers and be able to move into the buy-side to service hedge funds and asset managers.

Collings describes the acquisition as a good fit for Torstone strategy, as both companies focus on cloud-based, software-as-a-service, cross-asset solutions designed to lower TCO. Percentile’s FRTB solution offers risk aggregation and capital calculations out of the box, and can support both the regulations’ Internal Model Approach (IMA) and Standardised Approach (SA).

While Torstone and Percentile have had a working relationship for some time, Collings says the acquisition is a perfect opportunity, timing wise. He adds: “With FRTB coming up, financial institutions are looking at our strategy and we are talking to them about FRTB and compliance.” Torstone is also helping clients address the requirements of Central Securities Depositories Regulation (CSDR).

Anthony Pereira, CEO of Percentile will continue to head the risk business within Torstone, which after the acquisition will expand to 76 employees with plans to reach 95 by the end of the year. With offices in London, New York, Honk Kong, Singapore and Tokyo, the company has recently expanded its London headquarters to support growth in European business.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Leveraging interoperability: Laying the foundations for unique best-of-breed trading solutions

Date: 23 May 2024 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Interoperability on the trading desk promises more actionable insights, real-time decision making, faster workflows and reduced errors by ensuring data consistency across frequently used applications. But how can these promises be kept in an environment characterised by multiple applications...

BLOG

Bloomberg Releases GenAI-Powered Earnings Call Summaries

Bloomberg has released AI-Powered Earnings Call Summaries, the company’s first generative AI (GenAI) product for terminal users. The tool enables users to decipher complex financial information and quickly extract key insights on topics addressed by corporate management teams, such as guidance, capital allocation, hiring and labour plans, the macro environment, new products, supply chain issues,...

EVENT

Buy AND Build: The Future of Capital Markets Technology, London

Buy AND Build: The Future of Capital Markets Technology London on September 19th at Marriott Hotel Canary Wharf London examines the latest changes and innovations in trading technology and explores how technology is being deployed to create an edge in sell side and buy side capital markets financial institutions.

GUIDE

Entity Data Management Handbook – Fifth Edition

Welcome to the fifth edition of A-Team Group’s Entity Data Management Handbook, sponsored for the fourth year running by entity data specialist Bureau van Dijk, a Moody’s Analytics Company. The past year has seen a crackdown on corporate responsibility for financial crime – with financial firms facing draconian fines for non-compliance and the very real...