San Francisco, 4 November 2002 – Calypso Technology announced today that investment bank Dresdner Kleinwort Wasserstein (DrKW) has chosen Calypso for its global securities processing, with the first component of the new system due to go live for Tri-Party Repo on 4 th November 2002.
The project as a whole covers the bank’s cash equities and bonds businesses as well as its securities lending and borrowing operations, all of which fall within DrKW’s Capital Markets business line. The project will be delivered jointly by DrKW’s IT and Operations departments.
“Cost reduction through consolidating systems infrastructure onto more efficient processing platforms is a major goal of the project,” said Mark Dovaston, Managing Director, Information Technology at DrKW. “Once implemented, Calypso will also reduce both the number of exceptions and the cost of processing those that occur.”
“We are confident that the new technology will help improve our processes and flexibility, delivering benefits not only to us as an organisation but also, critically, to our clients ” added Nigel Whitehouse, Global Head of Operations.
Calypso provides real-time information on positions, collateral, margin calls, upcoming settlements, and fails to Operations staff, who can then in turn support the front office more effectively. The software aims to help the financial industry solve problems of cost control, ensure more effective trading, and streamline operations through IT innovation.
“DrKW Frankfurt already uses Calypso for FX and money markets. We are delighted that the success there has led them to extend the product to the global securities business,” said Charles Marston, CEO of Calypso Technology.
About Dresdner Kleinwort Wasserstein
Dresdner Kleinwort Wasserstein (DrKW) is the investment bank within the Corporates and Markets Division of Dresdner Bank AG, a member of the Allianz Group since July 2001. Headquartered in London, Frankfurt and New York and with an international network of offices, DrKW provides a wide range of investment bank products and services to European and international clients through its Investment Banking, and Capital Markets business lines.
Monday, November 4, 2002
Monday, September 30, 2002
Capco and Calypso Announce Global Technology Training Program
San Francisco, 30 September 2002 – As Sibos 2002 commences, Capco, the global services and technology solutions provider focused exclusively on the financial services industry, and Calypso Technology, vendor of cross-asset trading and processing systems based on the industry's most modern platform, announce the availability of the first Calypso Technology certified education program.
The Calypso system delivers a full suite of trading and processing functions that include trade structuring, settlements, and accounting. It is based on a multi-tier architecture and implemented entirely in Java in order to take advantage of the rapid development and flexible connectivity to enterprise resources afforded by the Java platform.
With Capco's profound expertise in the financial services industry and the increased demand for Calypso solutions as the industry embraces straight-through processing (STP), the two companies decided to join forces to meet this growing demand for training for users of Calypso products.
Yannick Bollati, Managing Principal, Capco says: "The training programme which we have developed is designed specifically for business analysts and technology specialists involved in Calypso projects. By the end of the course, participants will be able to confidently implement the Calypso system in order to maximise the benefits it will bring to achieving STP within the business environment."
"Calypso Technology is delighted to work with Capco on this global training programme", says Charles Marston, CEO of Calypso Technology. "The significant increase in organisations wanting to use our products has obviously resulted in an equally significant increase in the demand for training so that organisations can reap the utmost benefit from our offering. We see the training programme as an integral part of the Calypso value added offering."
The training includes several product modules. It is composed of a functional and a technical stream, offering a mixture of theoretical principles, concepts, and a series of exercises.
Attendees gain functional insight into the scope and possibilities of the Calypso system by learning how to (i) set up static data, (ii) process trades using the Calypso workstation, and (iii) translate back-office business processes into Calypso workflow configurations.
The technical stream specifically focuses on the fundamental architecture principles upon which Calypso is built and the development of extensions in the Java language in order to get an understanding of the various possibilities of extensibility such as building interfaces or extending Calypso server functionality.
About Capco:
Capco (http://www.capco.com/) is the first services and technology solutions provider exclusively focused on forming the future of finance. We dramatically improve clients' financial and operational performance, risk profile, and return on IT investments by seamlessly integrating business strategy and process with technology implementation.
The firm has integrated capabilities in thought leadership, business strategy, technology services, software components, insourcing, and ventures. These are augmented through an alliance network - providing comprehensive, scalable solutions and reduced project risk. We have 650 employees in the major financial centres around the globe and focus on capital markets, private client services, asset management, and banking clients.
The Calypso system delivers a full suite of trading and processing functions that include trade structuring, settlements, and accounting. It is based on a multi-tier architecture and implemented entirely in Java in order to take advantage of the rapid development and flexible connectivity to enterprise resources afforded by the Java platform.
With Capco's profound expertise in the financial services industry and the increased demand for Calypso solutions as the industry embraces straight-through processing (STP), the two companies decided to join forces to meet this growing demand for training for users of Calypso products.
Yannick Bollati, Managing Principal, Capco says: "The training programme which we have developed is designed specifically for business analysts and technology specialists involved in Calypso projects. By the end of the course, participants will be able to confidently implement the Calypso system in order to maximise the benefits it will bring to achieving STP within the business environment."
"Calypso Technology is delighted to work with Capco on this global training programme", says Charles Marston, CEO of Calypso Technology. "The significant increase in organisations wanting to use our products has obviously resulted in an equally significant increase in the demand for training so that organisations can reap the utmost benefit from our offering. We see the training programme as an integral part of the Calypso value added offering."
The training includes several product modules. It is composed of a functional and a technical stream, offering a mixture of theoretical principles, concepts, and a series of exercises.
Attendees gain functional insight into the scope and possibilities of the Calypso system by learning how to (i) set up static data, (ii) process trades using the Calypso workstation, and (iii) translate back-office business processes into Calypso workflow configurations.
The technical stream specifically focuses on the fundamental architecture principles upon which Calypso is built and the development of extensions in the Java language in order to get an understanding of the various possibilities of extensibility such as building interfaces or extending Calypso server functionality.
About Capco:
Capco (http://www.capco.com/) is the first services and technology solutions provider exclusively focused on forming the future of finance. We dramatically improve clients' financial and operational performance, risk profile, and return on IT investments by seamlessly integrating business strategy and process with technology implementation.
The firm has integrated capabilities in thought leadership, business strategy, technology services, software components, insourcing, and ventures. These are augmented through an alliance network - providing comprehensive, scalable solutions and reduced project risk. We have 650 employees in the major financial centres around the globe and focus on capital markets, private client services, asset management, and banking clients.
Tuesday, August 27, 2002
HSBC Goes Live on Calypso's New Credit Derivatives System
San Francisco, 27 August 2002 – Calypso Technology announced today that HSBC Bank USA has gone live on Calypso's new credit derivatives system. The Bank will use the system for front-to-back processing for a broad range of credit derivatives.
"We have been eager to have the new system in place," said Sandeep Saksena, Head of Derivatives and FX IT at HSBC Bank USA. Now, we can easily manage the whole trade life cycle-structuring, valuation, credit events, payments. We've reduced our time-to-market for new products, and increased our control of the business."
The system was developed jointly by Calypso and HSBC. Calypso enhanced its application suite to support the full range of credit derivative products including basket default and total return swaps. Using Calypso's open API's, HSBC integrated the system into the bank's technical environment, and incorporated its separately developed and maintained components, such as new proprietary products and analytics.
"With this system, we can continue to use our proprietary analytics and develop our own new products, while Calypso maintains and enhances the core software," added Saksena. "We now have a solid technical infrastructure for this vital business."
"The credit derivatives market has grown to the point many players feel the early internal systems they put in place are now holding them back. Nor have existing vendor products kept pace. With HSBC's input we have built a system that will support their business today and well into the future," said Kishore Bopardikar, President of Calypso. "Technology that enables, not inhibits."
About HSBC Bank USA
HSBC Bank USA has more than 410 branches in New York State, giving it the most extensive branch network in New York. The bank also has eight branches in Florida, two in Pennsylvania, three in California and 17 in Panama.
HSBC Bank USA is the tenth largest US commercial bank ranked by assets and is a subsidiary of HSBC USA Inc, an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc (NYSE: HBC). Headquartered in London, and with over 7,000 offices in 81 countries and territories, the HSBC Group is one of the world's leading banking and financial services organizations. For more information about HSBC Bank USA and its products and services visit http://www.us.hsbc.com/.
"We have been eager to have the new system in place," said Sandeep Saksena, Head of Derivatives and FX IT at HSBC Bank USA. Now, we can easily manage the whole trade life cycle-structuring, valuation, credit events, payments. We've reduced our time-to-market for new products, and increased our control of the business."
The system was developed jointly by Calypso and HSBC. Calypso enhanced its application suite to support the full range of credit derivative products including basket default and total return swaps. Using Calypso's open API's, HSBC integrated the system into the bank's technical environment, and incorporated its separately developed and maintained components, such as new proprietary products and analytics.
"With this system, we can continue to use our proprietary analytics and develop our own new products, while Calypso maintains and enhances the core software," added Saksena. "We now have a solid technical infrastructure for this vital business."
"The credit derivatives market has grown to the point many players feel the early internal systems they put in place are now holding them back. Nor have existing vendor products kept pace. With HSBC's input we have built a system that will support their business today and well into the future," said Kishore Bopardikar, President of Calypso. "Technology that enables, not inhibits."
About HSBC Bank USA
HSBC Bank USA has more than 410 branches in New York State, giving it the most extensive branch network in New York. The bank also has eight branches in Florida, two in Pennsylvania, three in California and 17 in Panama.
HSBC Bank USA is the tenth largest US commercial bank ranked by assets and is a subsidiary of HSBC USA Inc, an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc (NYSE: HBC). Headquartered in London, and with over 7,000 offices in 81 countries and territories, the HSBC Group is one of the world's leading banking and financial services organizations. For more information about HSBC Bank USA and its products and services visit http://www.us.hsbc.com/.
Monday, July 8, 2002
Major European Bank Selects Calypso's Processing System
San Francisco, 08 July 2002 – Calypso Technology announced today that ING Bank is implementing Calypso for its treasury processing. The system will be installed initially at Banque Bruxelles Lambert (BBL), a subsidiary of ING. The implementation is part of ING's plan to reduce operational costs by consolidating its back office processing.
Last year, ING decided to bring together the processing for the financial markets businesses of ING Bank, ING Barings, BBL, BHF, and other subsidiaries. By consolidating the operations and IT platforms of these units in shared service centers, ING plans to lower costs and provide improved customer service.
Calypso will provide the processing software that makes this strategy viable, giving ING the potential to process in one system all of the financial products traded by its various legal entities. Moreover, the software is consistent with ING's desired infrastructure for the future. Calypso is modular in design, written in Java, and scales well as volumes increase. The system is designed and built to support centralized processing in large financial organizations.
"When a bank upgrades its processing infrastructure," said Kishore Bopardikar, President of Calypso, "it is a long-term decision. It demands a platform that can support its business now and well into the future. We are pleased ING sees us as that system. This announcement, along with other recent customer announcements, shows that Calypso is now the processing system of choice for top-tier firms."
Last year, ING decided to bring together the processing for the financial markets businesses of ING Bank, ING Barings, BBL, BHF, and other subsidiaries. By consolidating the operations and IT platforms of these units in shared service centers, ING plans to lower costs and provide improved customer service.
Calypso will provide the processing software that makes this strategy viable, giving ING the potential to process in one system all of the financial products traded by its various legal entities. Moreover, the software is consistent with ING's desired infrastructure for the future. Calypso is modular in design, written in Java, and scales well as volumes increase. The system is designed and built to support centralized processing in large financial organizations.
"When a bank upgrades its processing infrastructure," said Kishore Bopardikar, President of Calypso, "it is a long-term decision. It demands a platform that can support its business now and well into the future. We are pleased ING sees us as that system. This announcement, along with other recent customer announcements, shows that Calypso is now the processing system of choice for top-tier firms."
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