Risk Management and OTC derivative systems to be key in 2009, says Calypso survey

• 61% of respondents are actively looking to improve their risk management systems
• 49% of respondents are working to improve processing of OTC derivatives
• 56% of respondents are going to decrease their IT spend in 2009

London, UK, January 12, 2009 – Calypso Technology Inc, a leading global provider of an integrated trading application suite to the capital markets industry, unveiled its latest survey results from their annual EMEA customer forum held in London last month. The results highlighted that respondents were concerned about improving their internal systems for risk management and OTC derivatives processing. While the majority of respondents anticipated a decrease in overall IT spending in 2009, investments in systems for risk management will take priority as integrated risk becomes increasingly important in today’s unpredictable financial environment.

Over 100 delegates, comprising representatives from 33 leading financial institutions, across seven European countries, met this month to discuss Calypso Technology’s offering which supports trading, risk management and processing for a broad array of asset classes on a single integrated platform. 39% of respondents saw reducing IT and maintenance costs as a route to reducing overall IT expenditure. System consolidation, STP and operational efficiency were some of the topics discussed during the conference in relation to reducing costs.

Rene Steenhart, Global Head of Operations at Rabobank, stated: “Since having implemented the Calypso system, we estimate that our efficiency rate has increased between 30-35% in the back office area of FX and MM processing. This has resulted in our staff being able to concentrate on further improving our customer service, something which is even more important in today’s market where Rabobank prides itself to deliver a reliable and stable AAA rated customer service.”

“Our EMEA customer conference this year highlighted that although IT spend is set to decrease next year, many firms are looking to invest in improved risk management and OTC derivative processing systems,” says Charles Marston, CEO, Calypso Technology. “This event continues to allow a forum to discuss the issues affecting the marketplace and remains an important part of Calypso’s transparent communication with our client base”.

Additional background on Calypso’s risk management solution:
Calypso Technology provides an integrated risk management approach that balances desk-level risk management and enterprise risk management on a single platform for multiple treasury and derivatives instruments. On a desk level, Calypso enables real-time risk management including a powerful scenario analysis tool allows for the perturbation of data to view the impact of market movements on P&L attribution. Traders and risk managers can drill-down for detailed risk analytics of positions by trade or by counterparty.

Calypso ERS (Enterprise risk services) is an innovative solution for risk management and delivers timely, accurate and comprehensive risk measures to a user’s desktop. Designed specifically for risk users, the solution provides the tools to effectively monitor and understand the complexity inherent in global capital markets. For example, CFOs and risk managers can view the current snapshot of all key risk measures with drill-down and roll-up capabilities to quickly identify areas of concern and explain the source of risk.

Calypso ERS can be used as a standalone firm-wide risk management system, or in conjunction with the Calypso Trading and Risk platform as a complete risk package that deftly integrates desk-level risk management with the objectives of the enterprise. Calypso ERS seamlessly integrates with other providers of risk data and analytics to consolidate cross-asset, global risk exposures.