San Francisco, 21 June 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today reported that Rand Merchant Bank (RMB) has experienced marked improvements in efficiency following the implementation of Calypso in its interest rate derivatives business. RMB has recorded an average 70% efficiency gain for the IRD products currently live on Calypso.
“Our goal was to achieve greater efficiency through better controls and Calypso has assisted us with this. As we continue to roll out the solution across asset classes and business areas, I’m sure we’ll continue to see further benefits,” commented Wendy Donaldson – RMB, Treasury Operations.
“The working relationship between RMB and Calypso has proved to be beneficial to both parties and we look forward to continuing to work together. Calypso’s technology distinguishes it from other players in the capital markets space, and it is this strength that has been appreciated by RMB,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.
RMB licensed Calypso as a cross-asset front to back software system and was Calypso’s first South African client. The bank went live with the Calypso solution for payments in Q3 2004.
About Rand Merchant Bank
Rand Merchant Bank (RMB) is the investment banking arm of FirstRand, one of South Africa’s largest, publicly quoted financial services groups. RMB is a full-service investment bank with offices in South Africa, Ireland, the United Kingdom, Mauritius and Australia. RMB has enjoyed uninterrupted profit growth since its formation in 1977. Independent surveys consistently rank it first in mergers and acquisitions, BEE listings, corporate finance, structured and project finance, private equity and as the leading debt house in South Africa.
Tuesday, June 21, 2005
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