San Francisco, 13 October, 2004 – Calypso Technology announced today that Sumitomo Trust & Banking ( STB ) has gone live with Calypso’s front-to-back FX solution. The implementation enables STB to enhance its IT infrastructure for its FX business and improve customer service and processing efficiencies.
STB explored several options to satisfy its FX business strategy, provide more effective customer service , and improve operational efficiency . Calypso was selected as it was a single system providing complete STP through settlement, which would allow STB to improve the efficiency of its FX processing . To help STB achieve its service goals , the system now has various features including trust FX, bulk entry of trades, rollover and allocation of trades, and margin control and limit management. To ensure that the system met Japanese market requirements, Calypso partnered with STB to complete support for Japanese market requirements.
A spokesperson for Sumitomo Trust & Banking, says: “Calypso has supplied us with a single platform for both interbank and customer FX trading, with supporting functionalities for both the front office and back office. We have now enhanced the infrastructure of our FX business with an automated system, built on modern technology, and have an opportunity to improve the efficiency of the FX business. This is our first step using the Calypso system to enhance our business infrastructure, and we are expecting further improvements to meet our business strategy goals and to provide better service to our clients.”
“In a market where margins have become very tight, banks need to be able to provide end to end connectivity for its customers to offer better customer service. They need to connect to liquidity providers, portals and banks. This is achieved by providing banks with a single platform to support the connectivity. In addition it reduces their need to use many systems which increases the potential for operational risk and higher maintenance costs. We have built a robust platform for the entire FX process which leverages all Calypso’s technology benefits,” said Charles Marston, CEO of Calypso Technology.
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Calypso is a global application software provider that delivers an integrated suite of trading applications to the capital markets function within banks and other companies participating in the world’s financial markets.
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