Torstone Technology is purchased by FIS

For the purpose of enhancing its offers and capabilities in the capital markets technology space, FIS has announced the acquisition of Torstone Technology, a SaaS post-trade platform.

Madilyn Swift

February 29, 2024

1Min Read

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Wealth

The strategic agreement is anticipated to expedite FIS's capital markets technology offering after this announcement, given the company's recent spate of acquisitions and historic mandates.

Additional details regarding the purchase

Developed to deliver its portfolio of solutions and expertise for its customers and clients worldwide, Torstone Technology is a global provider of Software-as-a-Service (SaaS) platforms for post-trade securities and derivatives processing technology. With offices in Tokyo, Hong Kong, Toronto, Singapore, New York, and Hong Kong, the company's current headquarters are in London.

The acquisition will concentrate on the growing demand from Torstone's technology clientele, who need it to fulfil growing regulatory requirements in the UK and Europe and optimise their whole post-trade procedures. The firms hope to enhance FIS's capital markets technology services portfolio by merging its technology with Torstone's worldwide presence.

Global fintech FIS grew both organically and through a number of acquisitions in the capital markets technology area. With this agreement, Torstone will have the opportunity to grow both its global footprint generally and its technological capabilities. The businesses will also be able to lower prices for users and provide optimised operational efficiencies, all the while promoting growth in the post-trade processing industry.

Furthermore, the vendor may add cutting-edge securities processing products to the current array of capital markets that are capabilities-focused, making the acquisition a significant step forward in FIS's development plan. In addition to satisfying the needs, preferences, and demands of clients and partners, the firms will give top priority to the process of continuing to comply with local regulations and laws. The agreement is anticipated to enhance customer service and create new growth opportunities for the capital market industry.