A-Team Insight Blogs

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

Share article

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.

Leave a comment

Your email address will not be published. Required fields are marked *

*

Related content

WEBINAR

Upcoming Webinar: Data Science & Analytics: Using new tools to help drive business driven analytics (the role of metadata strategy, knowledge graphs, data catalogs and more)

Date: 12 November 2020 Time: 10:00am ET / 3:00pm London / 4:00pm CET Extracting value from your firm’s data is imperative to stay competitive. Siloed, unstructured and unanalyzed data produces too much information that can burden an organisation’s ability to turn data into business assets. New tools are emerging to give greater transparency into your...

BLOG

Join the Debate on Cost and Accessibility of Market Data at A-Team Group’s TradingTech Summit

Is your firm challenged by the high costs of market data and redistribution charges? Does it face barriers to accessing market data in a timely fashion? And is it looking for ways to resolve these problems? If the answer to any of these questions is ‘yes’, join A-Team Group’s TradingTech Summit in London on 25th...

EVENT

RegTech Summit New York City

Now in its 4th year, the RegTech Summit in NYC explores how the North American financial services industry can leverage technology to drive innovation, cut costs and support regulatory change.

GUIDE

Entity Data Management Handbook – Sixth Edition

High-profile and punitive penalties handed out to large financial institutions for non-compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations have catapulted entity data management up the business agenda. So, too, have industry and government reports on the staggering sums of money laundered on a global basis. Less apparent, but equally important, are...