San Francisco, 14 June 2001 – Calypso Technology announced today that ClickOptions, a subsidiary of Société Générale, is using Calypso as the back-end core processing system for its new retail equity derivatives business. ClickOptions went live in France in May and will be rolled out to other countries later this year.
"Time to profitability is critical for us," said Lionel Gibert, Managing Director of ClickOptions. "With Calypso we have been able to develop an integrated business solution for our back end operations. We were able to go live much quicker than if we had had to juggle different pieces of software."
ClickOptions will give its customers Web-based access for trading and managing equity derivatives positions. The Calypso system provides all the back-end functionality for this site. It maintains customer accounts, produces trade tickets, updates positions, and manages the settlement process.
As well as the out-of-the-box application functionality, ClickOptions was also attracted by the flexibility of the system. The Calypso system's n-tier 100% Java architecture allows clients to add new functionality easily. "We had some unique requirements, such as the ability to support our proprietary new trading products," added Gibert. "Calypso's Java framework lets us keep control of these proprietary developments even while they are functionally integrated in the system."
"Calypso combines core processing and Internet deployment," said Kishore Bopardikar, President of Calypso. "ClickOptions' experience shows that we can deliver a complete Web-based trading solution-from clicked to settled. It further demonstrates the breadth of our system as we add another asset class to the list of those for which customers have chosen Calypso. That list now includes foreign exchange, money markets, fixed-income, equities, and interest-rate derivatives as well as equity derivatives."
About ClickOptions:
ClickOptions is a wholly-owned subsidiary of Société Générale, a world leader in the trading of complex equity and equity-index products. ClickOptions was created in October 2000 to enable individual investors to understand and participate in the equity derivatives market. www.clickoptions.com was launched in France in May, 2001 and will be rolled out to other European countries later this year.
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