The deal will further bolster FIS’ capital markets technology offering
In brief:
- Torstone is a global SaaS platform for post-trade securities and derivatives processing technology, originally built by and for a global investment bank.
- The deal will further bolster FIS’ capital markets technology offering, having acquired SunGard in a major deal back in 2015. The firm has also made waves through a number of other bolt-on acquisitions and landmark mandates.
- Some of its major recent mandates include a 10-year agreement to provide post-trade technology to BNP Paribas and $1.5 trillion asset manager Franklin Templeton outsourcing its entire global transfer agency (TA) operations to FinTech FIS.
What does this mean?
A source speaking to The TRADE under the condition of anonymity said: “The acquisition makes perfect sense from the FIS perspective as the vendor can add modern securities processing capabilities to its existing suite of capital markets focused offerings. On the Torstone side, it gives the smaller vendor deeper pockets to build out its capabilities and reach into new geographies.”
