Torstone Technology, a provider of post-trade securities and derivatives processing technology, is to acquire Percentile, a provider of real-time, cloud-based risk and compliance technology to global financial markets.
The Percentile risk management solution will form a component of Torstone’s platform. Torstone is now able to provide a full-service, cross-asset, global post-trade offering, including risk and compliance, providing the best possible services and solutions to a new expanded client base, that can adapt as the markets continue to evolve.
The Percentile acquisition represents another step forward by Torstone to strengthen its post-trade offering, having recently announced plans to significantly expand its London headquarters to accommodate European business growth, following a revenue increase of over 50 per cent year on year.
Brian Collings (pictured), CEO, Torstone Technology, says: “As part of our global strategy we continue to invest in expanding our product offering, leveraging cloud-based technology to improve the client experience. Torstone Technology and Percentile have long been closely aligned in terms of company culture and values, as well as our approaches to solution development, and emphasising the benefits of agile, future-proof technology. We are excited to make this acquisition which will enable us to further augment our Cloud service offering in the post-trade space as we continue to expand globally.”
Anthony Pereira, CEO of Percentile, says: “Percentile continues to innovate and help global financial firms meet the ever-growing demand for more granular, frequent and insightful risk analysis. We are proud of our successes achieved to date and look forward to supporting Torstone’s global growth by helping them form a holistic solution that responds to the industry’s need for an integrated post-trade system, as well as helping firms handle their future risk requirements.”