San Francisco, June 10, 2010 — Calypso Technology Inc, a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, today announced that it has entered into a Value Added Reseller (VAR) agreement with Fundação Centro de Pesquisa e Desenvolvimento em Telecomunicações (CPqD) to enhance the Calypso product and services offering in Latin America. Under the arrangement, CPqD will become Calypso Technology’s partner in Brazil, expanding on Calypso’s current marketing and distribution capabilities in the region.
The relationship with CPqD is an important part of Calypso Technology’s continued expansion in the Latin American market. Last year, Calypso Technology entered into an alliance arrangement with CPQi, an integration services company, to deliver implementation and related services across the continent.
The Calypso Trading and Risk Management Platform is the industry’s first integrated application suite designed from the outset to be a front-to-back office, cross-asset platform for derivative and treasury products. Global financial institutions, including banks and asset management firms, use Calypso to improve financial innovation and capitalize on ever-changing market opportunities. Calypso provides an open, modern platform that adapts to customer needs today and in the future.
“While we have an established customer base in Brazil, our partnership with CPqD enables us to further penetrate the Brazilian market,” states Carlos Patiño, Director, Business Development - Latin America, who is leading Calypso Technology’s commercial initiatives in that region.
“We are delighted to partner with CPqD. Their deep technological, financial and legislative knowledge, coupled with an extensive network in capital markets, will significantly accelerate our business development efforts in Brazil,” states Charles Marston, Chairman and CEO of Calypso Technology.
“We’re very excited to partner with Calypso Technology. Their leading global software for managing derivatives and treasury products will complement the CPqD portfolio in the financial sector,” adds Claudio Violato, CPqD Technology Vice-President. “Today, the Brazilian capital market is one of the fastest growing capital market regions in the world, and its participants require advanced trading and risk management systems such as the Calypso system to keep pace with the dramatic change and growth.”
About CPqD
CPqD is an independent institution focused on Information and Communication Technologies (ICT) innovation. The solutions developed by CPqD are used in Brazil by the leading telecommunications service providers, financial companies, energy corporations, industrial and manufacturing companies and government agencies. With 34 years of experience, CPqD employs more than 1,200 highly qualified and creative professionals, who are committed to quality and excellence. Today, CPqD develops the largest R&D program in Latin America, contributing to the Brazil’s socio-economic development and competitiveness and digital inclusion of the Brazilian society, and also delivering on the market technology products, mission-critical systems, and technological and consulting services.
Thursday, June 10, 2010
Wednesday, June 9, 2010
Crédit Agricole CIB Goes Live with Calypso for Global Back-Office Processing
- Calypso Technology provides solution to top-tier bank for centralized global cross-asset processing
San Francisco, June 09, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, announced today that Crédit Agricole CIB, the corporate and investment banking division of the Crédit Agricole Group, and one of the world’s top 10 largest banks, has gone live in 23 locations across EMEA, APAC and the Americas with the Calypso system to support its global back office processing of FX, Money Market and FX derivative products.
Crédit Agricole CIB is using the Calypso system as their strategic global back-office solution for processing FX, Money Market and FX derivatives. The Calypso platform is centrally installed in Paris, providing remote access to 23 locations worldwide, leveraging functionality for workflow, back-office position management, trade confirmation, settlement and payments, cash transfers, reporting, auditing and event processing. Although the Calypso solution is installed as a single instance, the flexible architecture of the system has allowed for local adaptations of the workflow, accounting rules, reporting and interfaces.
Fréderic Coudreau, Head of Capital Market Operations, Crédit Agricole CIB, explained, “Following a successful track record of working together, we knew that Calypso Technology shared our vision and ambition of creating a truly global back office platform. Our centralized Calypso solution delivers global visibility of positions and exposure in real-time, allowing us to be in control and respond quickly to changes in the market”. Mr. Coudreau continued, “The project has enabled Credit Agricole CIB to automate and consolidate back office operations on a global, enterprise-wide basis for multiple treasury, FX and FX derivative products. In many regions our STP rate has increased to 98%, and across the board there has been a reduction in IT and operational risk. Furthermore, we have seen improved customer service through the comprehensive reporting system, which was easily adapted to meet regional requirements. Calypso Technology has delivered an impressive global platform for growth, allowing us to expand rapidly and enter new markets with ease knowing that we can meet specific local requirements through simple system configuration.”
Crédit Agricole CIB was seeking a solution which could offer an architecture that was modern, open and flexible and could cope with FX trading volatility. Equally, the platform needed to be able to process a high volume of trades and a large variety of products, offering scalability. A system that could regionally adapt to local requirements and support multi-currency trading while providing flexible workflow were also key requirements.
Crédit Agricole CIB is a long-time customer of Calypso Technology, this is one of its three installations of a Calypso system. Following the initial signing of a real time STP back-office system for fixed-income assets in May 2000, the bank decided in 2006 to extend their usage of the Calypso system to create a strategic back office platform for treasury, FX and FX derivative products to support the business’ global nature, allowing multi-currency, multi-time zone and 24/7 trading. In 2008, the bank made the decision to also use the Calypso system for global cash management after a thorough evaluation process.
“This project is a great example of how one of our customer relationships has evolved and resulted in the implementation of a Calypso solution across four continents,” commented Charles Marston, CEO and chairman, Calypso Technology. “For over a decade, Crédit Agricole CIB and Calypso Technology have built a long lasting partnership. This is testament to the quality of the systems in place, and the relationships established between those involved from both parties. We are extremely pleased by this development and look forward to working with Crédit Agricole CIB in the future.”
About Crédit Agricole CIB
Crédit Agricole CIB is the Corporate and Investment Banking arm of the Crédit Agricole Group, the world's ninth-largest, Europe's third-largest and France's first-largest bank on the basis of Tier 1 capital.
With around 13,000 employees in more than 50 countries, Crédit Agricole CIB offers its clients a comprehensive range of products and services in capital markets, brokerage, investment banking, structured finance, corporate banking and international private banking.
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