Industrial Bank of Korea Goes Live with Calypso for Front Office Support

• South Korean Bank to use Calypso for developing and automating FX, credit and commodity derivatives business


• Calypso Fast-Track leveraged to reduce implementation timelines and costs

San Francisco, March 28, 2011 — Calypso Technology Inc., the global capital markets platform provider, announced today that Industrial Bank of Korea (IBK), the majority government-owned South Korean bank, has gone live with the Calypso system to support its front office functions. The software solution has been selected to provide the bank with the opportunity to develop their commodities and credit trading businesses and automate the processes on their FX derivatives desk, allowing them to enhance the overall scope of products offered to their client base.

IBK was seeking an open, scalable and flexible solution which would seamlessly integrate with existing in-house systems and support multiple asset classes for future growth and development. The system will help eliminate and streamline manual processes, reducing operational risks and addressing performance issues incumbent to an ageing infrastructure. The system will help achieve increased straight-through-processing (STP) from front-to-back. The Calypso Front Office solution delivers extensive functionality including pricing, trade capture, Calypso Workstation (one-stop shop for trading, cash positions, P&L modeling and simulation) and desk level market risk functionality incorporating historical VaR and stress testing scenarios.

Throughout the implementation process, Calypso’s rapid deployment solution, Calypso Fast-Track, was leveraged to deliver strong project methodology, providing business specifications, documentation, market-standard configurations, and local language training. Working alongside Korea-based consultant-partner NOA-ATS, Calypso ensured that the implementation was in a short timeframe of 6 months and on budget.

Dr. Hyung Seok Hahm, Trading Department & Project Initiator, IBK, commented, “Calypso Technology has delivered a flexible platform that brings performance and robustness to our existing FX derivatives desk, and that allows us to expand into new business areas, respectively credit and commodity derivatives. We have chosen the Calypso system among many solutions for a number of reasons. First, Calypso Technology is a market leader for credit derivatives. Secondly, they are able to provide first level support locally onsite. And the Calypso system also meets our requirement that the solution should be flexible and able to integrate our in-house pricing engines.”

“This project is a testimonial of Calypso Technology’s commitment to the East Asian markets and of our ability to provide services and local support,” added Charles Marston, CEO and chairman, Calypso Technology. “We look forward to working with IBK and assisting them as their business expands and diversifies.”

About Industrial Bank of Korea The Industrial Bank of Korea is a partially government-owned bank which focuses on supporting small & medium enterprise (SME) growth in Korea by offering them a broad range of services. IBK was established in 1961 and its primary objective is to promote independent economic activities of small and medium-sized enterprises (SMEs) and to enhance their economic position in the Korean economy. IBK also operates overseas through branches in UK, China, Hong Kong, USA, Japan, Vietnam and Russia.

About NOA-ATS NOA Advanced Technology Solutions has played major roles in many implementations of trading systems and treasury management systems for various Korean financial institutions. NOA has been closely working together with Calypso Technology, Inc. since 2004 as a local sales partner and a local support. The size of total assets managed by treasury systems NOA has delivered to its clients has reached 600 billion dollars as of 2009 and is growing fast as the clients grows its treasury businesses.

Calypso Technology Achieves Double Digit Growth and Profitability in 2010

• Firm continues strong global expansion in 2010
• Record revenues, staff increase, 30+ companies go live

San Francisco, March 23, 2011 — Calypso Technology Inc., the global capital markets platform provider, today announced double-digit growth and profitability in 2010, culminating in a decade of continuous revenue growth. The company accomplished several record-breaking achievements in 2010: adding 19 new customers, opening new offices in Russia and India, and experiencing double-digit increases in staff, revenue and profits. More than 30 Calypso customers around the globe went into production in 2010 on upgrades and new installations, attesting to the company’s ability to scale delivery of its highly effective implementation services.

New customers were spread across a diverse range of business verticals, including banks, exchanges, clearing houses, prime brokers, hedge funds, clearing members, asset managers, insurers, sovereign wealth funds and central banks. Increased demand for Calypso software and services has been driven by regulatory focus on central clearing for OTC derivatives, transfer pricing and improving counterparty credit risk management.

In its 2011 annual League Table, IBS Intelligence recognized Calypso Technology as the highest ranked solutions provider to treasury and capital markets. Overall, the company was ranked #4 in a survey that included more than 70 vendors to the wholesale and retail banking industries.

2010 saw continued steady global expansion, with total customers in emerging markets topping 30 countries, including China, Chile, India, Kenya, Nigeria, UAE, Poland and Turkey. The completeness of the Calypso system across all asset classes through all front-middle-back office functions has broad appeal to capital market participants in emerging markets who are seeking single platform solutions to support their existing businesses and future growth.

Charles Marston, CEO of Calypso Technology, commented, “We are extremely proud of our growth attained through responding and adapting to changing markets. We have proven to be ahead of the curve by developing new solutions closely aligned with priorities and goals of a diverse range of financial institutions.”

Calypso continues to dedicate substantial resources to customer support initiatives and product innovation, increasing staff numbers. Global expansion included opening new offices in Moscow and Chennai. Calypso now operates 14 offices globally, including San Francisco, London, New York, Paris, Frankfurt, Tokyo, Copenhagen, Sydney, Johannesburg, Hong Kong, Singapore and Mumbai.

Calypso Technology has earned status as the global leader in OTC financial derivatives clearing - a market that hardly existed two years ago - with 5 major exchanges and clearing houses as clients. Tokyo Stock Exchange Group (TSE), Asia’s largest exchange, selected Calypso in 2010 to run its new credit default swap (CDS) clearing service. Singapore Exchange went live in 2010, becoming Asia’s first central clearing service for OTC financial derivatives. Calypso’s innovation in creating a purpose-built solution for clearing houses was recognized with the Asia Risk Award for Technology Development of the Year. Calypso Technology further extended its lead in OTC Clearing with the launch of its new OTC Client Clearing product, enabling clearing members to rapidly integrate with multiple clearing houses globally and clear client accounts on a single platform.

“We are well-positioned to continue growing through 2011 and beyond.” Mr. Marston states, “Recruiting top talent remains a priority as we endeavor to maintain unparalleled levels of customer service and research and development in order to deliver solutions that best serve our customers’ needs.”