Credit Suisse Securities (Canada) has chosen Torstone Technology’s cloud-based post-trade processing platform Inferno to automate its equities operations.

Inferno supports a range of services including trade capture, confirmation, settlement, accounting, corporate actions, reconciliation as well as regulatory reporting.

The platform will take the place of Credit Suisse’s current third-party outsourced platform.

The selection of Inferno came after a review that involved a scoping analysis. The review showcased the platform’s ability to meet both existing and future business needs.

Credit Suisse Canada & Bahamas director and head of operations Sam Farrell said: “We decided to move to Inferno and bring our operational processing back in house in order to leverage a cloud-based, cross-asset platform, providing us greater transparency and control over our business, and presenting an opportunity to reduce our total cost of ownership.”

The project, which prioritises institutional equities, has already started.

Commenting on the alliance, Torstone global head of sales Jonny Speers said: “As with all of our projects, we are working in close collaboration with the team at Credit Suisse, to ensure a smooth and seamless transition.

“We look forward to working with Credit Suisse over the coming months and years ahead, and to further growing our franchise here in Canada.”