The decision was a strategic one for CAI. "CAI is active in fixed income markets globally. As these markets evolve so must our processing infrastructure for us to remain competitive," said Francois Marion, Head of Systems and Operations of CAI. "Consolidating our fixed income business on Calypso will reduce the number of systems we maintain, lower our costs and improve our service."
One of CAI's goals is to increase the percentage of transactions that are processed automatically, without human intervention. "Calypso's automated processing will enable us to drive up our straight-through processing (STP) rates," explained Christian Laurenceau, Head of Operations at CAI. "Higher STP rates will mean fewer errors, and better customer service."
The Calypso system is built on a real-time, component-based architecture. A Java-based framework allows clients to tailor the functionality to their particular requirements. "The flexible framework makes it easy for us to fit Calypso into our existing environment," added Laurenceau.
"Financial markets are changing, nowhere more so than in Europe," said Charles Marston, CEO of Calypso. "Success in this environment turns on efficiency and innovation-cut costs and create value. We are pleased that CAI sees the potential to achieve both goals with our software."
About Crédit Agricole Indosuez
A fully-fledged member of the Crédit Agricole Group, Crédit Agricole Indosuez is:
- The capital markets arm of Crédit Agricole Group, occupying important positions in Europe in fixed income and foreign exchange, futures, and equity markets
- The European private banking arm of the Crédit Agricole Group, though Banque de Gestion Privée Indosuez in France and in Europe through a strong presence in the 3 main European private markets
- A corporate banking arm in the Crédit Agricole Group, having strengthened its long standing expertise in asset based finance and created new skills in corporate finance.
Posts
