- Calypso chosen as strategic trading platform for their growing Financial Markets Division
San Francisco, July 16, 2007 – Calypso Technology, Inc., (Calypso) a leading provider of capital markets trading software solutions, today announced that Landesbank Baden-Württemberg (LBBW), the leading financial services provider in southwestern Germany with significant retail, corporate and financial market clients worldwide, has selected Calypso’s platform for trading interest rate derivatives, credit derivatives, risk analysis and back-office processing.
The Financial Markets Division of LBBW provides banks, corporate and institutional clients with sophisticated capital market funding and risk management solutions, including numerous instruments and solutions for hedging interest rate and credit risks. As part of LBBW’s corporate strategy, the company is making a targeted effort to grow its capital markets business through the development of structured products as well as the corporate derivatives business.
“In 2006, existing customers grew their usage of these complex derivative products, and we grew our customer base within and outside of Germany,” said Ralf Winkelmann, Head of Capital Markets for LBBW. “We needed new systems that could process these complex products, while allowing us to innovate by quickly adding support for new trading instruments as the markets evolve.”
“Financial markets are growing more complex every day,” said Charles Marston, CEO of Calypso Technology, Inc., “Our vision to provide an integrated product that addresses all asset classes with front-to-back-office functions makes it possible for innovative financial services providers to serve their clients in new ways.”
About Landesbank Baden-Württemberg (LBBW)
With EUR 428.3billion in assets at the end of December, the bank ranks among the largest in Germany. LBBW is the central banker for the savings banks in Baden-Württemberg and by incorporating Landesbank Rhineland-Palatinate, (a EUR 67.7 billion institution) the bank has enlarged its geographic area. Since August 2005 LBBW has also strengthened its position in its core market through the integration of BW-Bank, a EUR 20 billion bank that catered to high net worth individuals.
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