Calypso Interfaces with Tradeweb Markets SEF

• Extension of Calypso End-User Clearing solution to support SEF connectivity, ensuring mandatory SEF execution compliance

San Francisco, CA – December 11, 2013 — Calypso Technology Inc., the leading integrated capital markets platform provider, today announced the extension of its over-the-counter (OTC) clearing solution for end-users to support Swap Execution Facility (SEF) connectivity. As a first step in providing derivatives end-user clients access to SEFs for derivatives trading and execution compliance, Calypso is interfacing with TW SEF from Tradeweb Markets, the leading global provider of fixed income and derivatives marketplaces, to offer an out-of-the-box request-for-quote (RFQ) and order book integration solution.

With mandatory SEF trading projected in February 2014, Calypso sought to give its clients the ability to automate cleared swap execution.  SEFs were mandated to be compliant with Dodd-Frank rules on October 2, 2013.  Calypso added this functionality into its OTC End-User Clearing solution, using the flexible architecture of the Calypso platform that allows addition of asset classes, clearing functionality and interfaces to help clients keep in step with regulation.

This extension of the Calypso solution ensures clients will have direct connectivity between Calypso and Tradeweb Markets’ TW SEF for Interest Rate Swaps and Credit Default Swap Indices. The platform supports straight-through-processing for clearing workflows and prevents double entry of trade details. Features of the interface include:

- Connectivity between Calypso and Tradeweb via FIX Messages

- Trade execution via Tradeweb and seamless integration to Calypso

- Trade novation through Calypso triggered by cleared messages from Tradeweb

- Support for Tradeweb’s RFQ system and fully disclosed order book

- Ability for block trading both above and below the mandatory notional clearing threshold; block trades above the threshold are still mandatory for SEF processing

“We’re excited to be among the first in the market to offer our clients this support for SEF trading and execution with Tradeweb Markets,” said Charles Marston, Chairman and CEO of Calypso. “Derivatives end users look to Calypso during these times of dynamic change in the derivatives trading landscape. More than ever, financial organizations require workflow efficiency, aggregation of trading, processing and clearing on a single platform, greater compliance and risk management as they seek to adapt and benefit from the new derivatives market structure.”

“Tradeweb is a global leader in providing institutional investors with efficient, flexible access to liquidity in the evolving derivatives marketplace,” said Billy Hult, President of Tradeweb Markets. “By integrating with partners like Calypso, we can continue to deliver a seamless electronic end-to-end workflow that reduces manual entry errors and increases productivity.”

Hong Kong Exchanges and Clearing Limited’s New CCP, OTC Clear, Clears First OTC Derivatives Trade Using Calypso Technology

• Central Counterparty, OTC Clear, now live on Calypso OTC Derivatives Clearing, Risk Management & Collateral Management

Hong Kong – December 4, 2013 — Calypso Technology Inc., the leading integrated financial markets platform provider, today announced that OTC Clearing Hong Kong Limited (OTC Clear), a subsidiary of Hong Kong Exchanges and Clearing Limited (HKEx), cleared its first OTC derivatives transaction using Calypso’s CCP OTC clearing solution when it commenced business on 25th November 2013.

OTC Clear, whose 12 founding shareholders include five mainland Chinese banks, selected Calypso as the system to provide end-to-end OTC clearing, processing and risk management of interest rate swaps and FX non-deliverable currency forwards.OTC Clear is also the first clearing house to employ Calypso’s collateral management module to handle and process collateral with its clearing members.

The success of the recent go-live, where the first trade cleared was a non-deliverable Renminbi 7-day repo swap, highlights the evolving market structure of Hong Kong as a key financial center and will further leverage Hong Kong’s position as the premier offshore Renminbi center.

OTC Clear’s selection validates Calypso’s experience and strong global track record delivering and implementing CCP clearing solutions.

“In looking for a partner, we wanted a provider who had deep experience in implementing OTC clearing technology and who fully understood our business and our position as a financial hub for the Renminbi-denominated products in the OTC marketplace,” said Gerald Greiner, Global Head of Clearing at HKEx.

“We are thrilled to be working with such an important organization in the Chinese and APAC marketplace,” said Charles Marston, Chairman and CEO of Calypso. “Our work with HKEx reinforces our position as a leading technology provider for the global OTC markets. We look forward to the continued success of the partnership with HKEx and further establishing Calypso as the world’s trusted clearing solutions provider.”

Calypso Technology Expands Offices in Santiago, Chile

San Francisco, CA – November 22, 2013 — Calypso Technology Inc., the leading integrated capital markets platform provider, today announced that they have expanded their offices in Santiago, Chile. This expansion is in response to a rapidly growing client base and increasing opportunities in the Latin American markets.

The office serves as a professional services hub as well as a sales and marketing base for the region. The territory had previously been managed from Calypso’s New York office, but with recent sales momentum and growth of Calypso’s local and regional client portfolio, including COMDER, Banco Penta, Banco de Crédito del Perú, Banco Crédito e Inversiones en Chile, a local presence was required.

Working with exchanges and banks in the Latin American markets, Calypso provides a cross-asset front-to-back office platform that meets the trading and operational needs of a region that is modernizing and consolidating its capital markets infrastructure.  It is a world-class solution that will enable the Chilean market to move to a centrally cleared derivatives environment.  Today, Calypso provides vital OTC derivatives clearing and processing infrastructure to the world’s top clearing houses, including COMDER, CME, Eurex, BM&FBovespa, TSE, SGX, HKEX and ASX.

Calypso customers in Latin America are among the leading users and dealers of a broad range of asset classes including interest rate derivatives, settlement and non-settlement currencies, money market indexed loans, fixed income instruments, FX products and derivatives hedging.

Carlos Patino, Director of Business Development, Latin America & the Caribbean, comments, “Key to our strategy as a global leader has been to identify, understand and implement solutions to meet the challenges faced by local financial institutions particular to their markets. We see great demand for our cross-asset capabilities from banks in the region who are looking to increase market share – both locally and globally, as foreign investors continue to focus on the region.  These currents are also being driven by a need to comply with multiple regulatory regimes, while moving quickly to capitalize on current opportunities. We look forward to playing a critical role in evolution of the regional markets and supporting institutions as they grow.” 

Santiago office contact details:

Calypso Technology SPA 
Flor de Azucena 42
6to Piso, Oficina 61
Santiago de Chile

Tel Main 56-2-2-690-6800
Tel Sales 56-2-2-690-6810
Fax 56-9-56175897

Email: calypso_santiago@calypso.com

Calypso Technology Wins Asia Risk’s Technology Development of the Year Award for 2013

Singapore, October 31, 2103 —Calypso Technology Inc., the leading integrated financial markets platform provider, today announced they have been awarded the Technology Development of the Year award at the Asia Risk Awards 2013, for their clearing solution enabling the Australian Securities Exchange (ASX) to provide cross-margining between listed and OTC derivative products in Australia.

The Asia Risk Awards recognize excellence in derivatives services and risk management across credit, currency, energy/commodities, equity and interest rate asset classes. 2013 marks the 14th year of the awards and the second time Calypso has received this prestigious award.  In 2010, Calypso received the Technology Development of the Year award for Calypso’s central clearing solution at SGX.

Asia Risk recognizes Calypso for its work successfully implementing the Calypso clearing platform at ASX, one of the world’s top 10 listed exchange groups. ASX offers cross-margining service on Calypso, enabling clearing members to offset initial margin between their interest rate swaps and 24 ASX exchange-traded interest rate futures products, thereby reducing the overall portfolio margin requirements for its members. ASX’s solution offers the benefit of reducing collateral fragmentation across the industry.

"ASX is an integrated exchange that offers a comprehensive range of services, including trading, clearing and settlement, risk management, margining and optimization; Cross-margining was a logical next step," says Tim Thurman, chief information officer at ASX. (Source: Asia Risk Issue October 2013)

“This award recognizes our continued dedication to technology innovation in the global financial markets,” states Sean McDermott, General Manager Asia-Pacific, Calypso. “We place a huge emphasis on research and development to ensure that we are consistently at the forefront of the changes in OTC Clearing, Derivatives, Collateral Management and Treasury Markets. The ASX project has led to tangible cost benefits to the Australian community and it’s great to see Calypso’s efforts with ASX recognized as Technology Development of the Year for 2013.”

Australian Securities Exchange Goes Live with Calypso Technology

• Live on OTC derivatives clearing and cross-margining

Sydney, September 17, 2013 — Calypso Technology, Inc., the leading integrated capital markets software provider, announced today that the Australian Securities Exchange (ASX) has cleared its first OTC derivatives transaction on its OTC clearing service that uses the Calypso System as the core clearing platform. The ASX OTC Derivatives Clearing Service launched on July 1st, 2013, with client clearing for Australian clients expected to be commercially launched in Q2 2014.

ASX, one of the world’s top 10 listed exchange groups, uses the Calypso solution to support OTC derivatives dealer-to-dealer clearing of standardized Australian Dollar (AUD) denominated interest rate swaps. ASX offers a cross-margining service on Calypso, enabling clearing members to offset initial margin between their interest rate swaps and 24 ASX exchange-traded interest rate futures products positions, thereby reducing the overall portfolio margin requirements. The Australian dealer community has expressed support for this service, as it retains their collateral onshore and facilitates capital efficiency via the clearing of OTC and exchange-traded derivatives together. ASX plans to offer AUD interest rate client clearing by Q2 2014, and is working with foundation customers comprising major Australian asset managers and state government treasuries. (Source: http://www.asxgroup.com.au).

Key factors in the selection of Calypso platform for OTC clearing were Calypso’s market leadership in OTC derivatives clearing software and experience in working with 9 global CCPs. The Calypso system provides end-to-end clearing operations, risk management and connectivity between CCPs and clearing member firms.

Peter Hiom, Deputy CEO of ASX, said “ASX chose Calypso as a provider with deep experience in OTC derivatives clearing to help deliver the best solution to meet the needs of the Australian marketplace.”

“Calypso is at the forefront of the expansion of OTC clearing platforms around the world”, says Charles Marston, Chairman and CEO, Calypso Technology. “Calypso OTC clearing is a proven, future-proof solution that enables efficient and competitive entry into new markets and clearing of new products. We look forward to continuing our partnership with ASX and delivering the next phase - client clearing in Australia.”

About ASX

ASX Group (ASX) is one of the world’s leading exchange groups.

• We operate a fully integrated exchange across multiple asset classes – equities, fixed income and derivatives
• We service a wide range of retail, institutional and corporate customers, directly and through intermediaries
• We offer a broad range of services that allow our customers to invest, trade and manage risk. This includes listings, trading, post-trade services, and technical and information services
• We operate infrastructure that supports the systemic stability of Australia’s financial markets and is critical for the efficient functioning of the nation’s economy, economic growth and position in the Asia Pacific region

More information about ASX can be found at www.asxgroup.com.au

Calypso Technology Opens Office in Dubai

• Capital markets technology leader launches new premises in the UAE to service Middle Eastern clients and markets

San Francisco, September 16, 2013 — Calypso Technology, Inc., the leading integrated capital markets platform provider, announced that they have opened an office in Dubai, United Arab Emirates. This expansion is the result of a growing client base in the Middle East region.

The office is located in the Dubai International Financial Centre, and will serve as a sales and marketing base as well as a professional services hub for the region. The territory had previously been managed from Calypso’s Paris office, but with the recent on-boarding and growth of new clients including Riyad Bank and Emirates NBD, a local presence was required.

Charles Marston, Calypso’s CEO and Chairman, commented, “In our fifteen years of operation, we have always deemed it invaluable to be close to our clients, so establishing a Middle Eastern presence is a natural progression. We have been in the region since 2007 and through research and practical experience, we have a firm understanding of market trends and requirements, and have become more integrated with its financial community.”

The Dubai office is Calypso’s 20th office globally, and follows three prior office openings this year alone.

Japanese Banks Focused on Operationally Readiness for OTC Client Clearing

• Survey at recent Calypso event in Tokyo highlights state of OTC clearing in Japan

Tokyo, Japan – 14 August 2013 — Calypso Technology Inc., the leading integrated capital markets software provider, has announced the results of a survey on OTC clearing conducted at its recent Japanese Market Forum 2013 in Tokyo. The survey revealed that 80% of respondents are working on achieving operationally readiness for OTC clearing in Japan. 20% are already operationally ready, even though it is not mandated.

More than 130 attendees from leading Japanese banks, broker dealers, asset managers, insurance firms and financial services providers attended the one-day event. The forum featured an update from Takeshi Hirano, Director, Strategic Planning Head, OTC Derivatives Clearing Service, Japan Securities Clearing Corporation (JSCC) on the current status of and future developments in Japanese clearing. Additionally, the event featured a presentation on leading edge OTC clearing technology and a panel discussion moderated by Takehiro Hosomura, Deputy Director, OTC Derivatives Clearing Service, JSCC, with senior industry practitioners from both the buy-side and sell-side discussing the new requirements driven by OTC clearing.

It is expected that OTC client clearing will be mandated within 2014 in Japan, whereas in the United States, the majority of derivatives end users were required by the Dodd-Frank Act to clear OTC derivatives beginning June 10th 2013.  In a survey of attendees, participants shared their concerns and plans to implement an OTC clearing infrastructure and strategy in Japan.  Of note, 20% of the survey respondents are currently operationally ready for OTC clearing. More than 50% of those firms are actively searching for a new system to help them with operational compliance. 

In contrast, more than 70% of derivatives end users in the USA and Europe state that operational challenges in OTC clearing are no longer the biggest sticking point, according to a report by research firm Finadium, entitled, “Large OTC Derivatives End-Users on Clearing and Collateral: A Finadium Survey.” 

“OTC clearing can impose significant strains on existing derivatives systems,” states Sanela Hodzic, Managing Director, Strategy and Marketing at Calypso Technology. “It’s a paradigm shift in derivatives management. Firms have to develop new processes and technology for managing connectivity, margining, collateral management and regulatory reporting requirements.” 

In the survey, over 50% of respondents revealed concerns that collateral management/collateral optimization will impact their business profitability once OTC client clearing becomes a reality.  “The urgency of collateral management is felt more gradually than the need to clear trades, as underlying investors and portfolio managers begin to see the direct cost of collateral impacts to their returns,” states Josh Galper, Managing Principal at Finadium. 

Conference attendees were also polled on how they would select clearing brokers. The majority (61%) of respondents highlighted that breadth of services was the most important attribute when selecting a CCP partner.  In terms of the most valuable clearing services, operational support around connectivity (46%) and risk and margin management (22%) topped the list. 

“The survey confirms that the Japanese market is well aware of the client clearing challenges ahead. Clearing firms recognize the need to implement solutions to support new stringent compliance requirements such as the 60-second limit checking rule,” concludes Hodzic. “Calypso is breaking new ground in this space, ensuring that our clients around the world are equipped with the tools and processes they need to optimize collateral in light of new clearing requirements.”

COMDER Selects Calypso to Power New Chilean OTC Derivatives CCP

San Francisco – July 23, 2013 – Calypso Technology Inc., the leading integrated capital markets software provider, today announced that COMDER Central Counterparty, has selected Calypso to provide the core clearing platform for a new central counterparty (CCP) for OTC derivatives created by a consortium of Chilean banks.

In response to G-20 mandated OTC derivatives reforms and standardization, a group of Chilean banks led by COMDER is building a new OTC derivatives CCP. This new CCP will begin clearing non-deliverable forwards (NDFs) in Q4 2014 and interest rate derivatives (IRD) in Q1 2015. The CCP will be powered by Calypso for novation, affirmation, registration, limits, initial and variation margins, collateral management, default management and trade repository.

According to Felipe Ledermann, CEO of COMDER, “Calypso is the ideal partner for us given the firm’s proven expertise and experience in OTC derivatives central clearing. COMDER benefits from Calypso’s ability to efficiently implement a best-in-class platform and offer ongoing maintenance and support.”

“We see Calypso as a strategic partner for one of the most important projects in the Chilean banking industry. This initiative allows us to build a best-in-class CCP with the highest standards and align with BIS-IOSCO principles for Market Infrastructures,” Ledermann added. “Also, the commitment to the project given by Calypso´s President and CEO, Mr. Kishore Bopardikar, has played an important role in building a strong relationship between the two companies to meet this important challenge.”

Calypso provides vital OTC derivatives clearing and processing infrastructure to the world’s top clearing houses, including CME, Eurex, BM&FBovespa, TSE, SGX, HKEX and ASX. The Calypso Clearing Solution provides full cross-asset coverage, manages each step in the clearing process and provides visibility into risk for cash and OTC derivatives products on a single, highly scalable platform.

Kishore Bopardikar, President and CEO of Calypso Technology, commented, “We are excited to provide a world-class solution that will enable the Chilean market to move to a centrally cleared derivatives environment. Calypso has established a leading role in global OTC clearing and we are  pleased to be supporting COMDER in the development of such an important platform for the country.”

Riyad Bank Chooses Calypso for Front-to-Back-Office Support

• Key factors in the bank’s selection include Calypso’s straight-through-processing capabilities and Islamic finance coverage

London, July 09, 2013 — Calypso Technology, Inc., the leading integrated treasury and capital markets software provider, has been selected by Riyad Bank, one of the largest financial institutions in Saudi Arabia and the Middle East, to provide treasury operations and structured product front-to-backoffice support. The Calypso system will be rolled out cross-asset in the bank’s operations to support structured products and hedge accounting. This selection marks a major win for Calypso in Saudi Arabia, a leading centre in Islamic finance.

Riyad Bank, looking to update front-to-back-office systems and operations, will change from a process based operating model to a more efficient exception-based one, significantly improving its straight-throughprocessing (STP) rate. Additionally, the bank will align its treasury operations with international and Islamic financial industry standards. Calypso will support the cross-asset requirements of the bank’s business covering its FX (cash and derivatives), money market, interest rate derivatives, fixed income and commodities (including precious metals and derivatives) operations.

Key factors in the selection were Calypso’s cross-asset, flexible solution with its enhanced operational capabilities and high level of STP.

Riyad Al-Zahrani, EVP Operations at Riyad Bank, said, “It was important for us to select a vendor that would deliver industry best practices, front-to-back-office support for structured products and cross-asset capabilities as well as the Shariah-compliant support that is critical for our market and for growing the business regionally. We went through a robust selection process during which Calypso outperformed other solutions in areas of functionality, flexibility and technology.”

Charles Marston, Chairman and CEO of Calypso, states, “We look forward to working with Riyad Bank, a key Saudi Arabian financial institution and market leader. Calypso remains committed to servicing the Middle East and Saudi Arabia in particular, a principal centre in Shariah finance. The region is of increasing importance in global finance and we are pleased to be a part of this dynamic and vibrant marketplace.”

About Riyad Bank

Riyad Bank is one of the largest financial institutions in Saudi Arabia and the Middle East, with a strong corporate and retail banking franchise. Mobilizing its substantial capital base and with decades of expertise to assume a leading role in all areas of Saudi finance, Riyad Bank is a leading financier and arranger of syndicated loans in the oil, petrochemicals, and most of the Kingdom’s notable infrastructure projects.

Riyad Bank offers its clients an accessible network of more than 251 branches with 80 dedicated ladies sections and 20 self-service electronic branches within the Kingdom. The bank has also kept its lead in the ATMs network, as the number of multi-functional ATM's exceeded 2,600 machine distributed in strategic & carefully selected locations.

Offices in London, Houston, and Singapore help the Bank support the international banking needs of its clients.

Riyad Capital [Riyad Bank’s investment banking arm] is a leading player in the IPO advisory business and asset management in Saudi Arabia, having won numerous investment awards in categories ranging from “best mutual performance” to “best fund manager.”

Bank of Korea Goes Live with Calypso’s Integrated Asset Management Solution

• Korea’s central bank implements Calypso Technology, Inc. to upgrade its technology to manage world’s 7^th largest sovereign reserve

San Francisco, CA – 11 June 2013 — Calypso Technology, Inc., the leading integrated treasury and capital markets software provider, announced today that the Bank of Korea, responsible for managing the world’s 7^th largest foreign reserve of $329 billion USD, has gone live with Calypso’s front-to-back office solution to manage its sizable portfolio. 

In light of the rapidly changing global environment, the Bank of Korea was looking to manage its foreign reserve investment strategies more efficiently to improve operational stability and increase return on investment. Calypso’s solution enables the Bank of Korea to manage these strategies more effectively. By integrating workflow in a single front-to-back office platform that improves STP efficiency and operational stability, Calypso provides the bank with the ability to support investment management decisions across a wide range of products including FX, MM, equities, commodities, fixed income and interest rate derivatives.

The Bank of Korea FROMs2 (Foreign Reserve Operation and Management System) go-live ceremony in Seoul earlier this year was attended by the Governor of the Bank of Korea, Mr. Jung Su Kim, and executives and members of the bank.  Calypso was represented by Chairman and CEO Charles Marston. Marston commented, “I was honored to be involved in the go-live ceremony on behalf of Calypso. We are very excited to support the Bank of Korea’s strategy. Our solution enables greater efficiencies and reduces operational risk across the foreign reserve business. This partnership demonstrates the value of our software and our dedication to working with this sector and region.” 

During the implementation process, Calypso provided subject matter expertise support as the company managed the project alongside system implementation partner NOA-ATS -- a Korea-based consultant which has worked with Calypso Technology since 2004. 

“The Bank of Korea expects to improve its operational stability and increase return on investment through managing our investment strategies more efficiently by implementing the Calypso solution. Calypso and NOA-ATS were the ideal partners for us.  They demonstrated solid knowledge of our business throughout the engagement, leading us to a successful deployment on time and within budget,” added the manager of the Bank of Korea.

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 grow their treasury businesses. http://noaats.com/ 

About Bank of Korea

The Bank of Korea was established on June 12, 1950 under the Bank of Korea Act. The Bank of Korea was originally established with a capital of 1.5 billion won, all of which was subscribed by the Government, but the amendment of the Bank of Korea Act in 1962 made the Bank a special juridical person having no capital.

The primary purpose of the Bank, as prescribed by the Act, is the pursuit of price stability. The Bank sets a price stability target in consultation with the Government and draws up and publishes an operational plan including it for monetary policy. To this end, the Bank performs the typical functions of a central bank: issuing banknotes and coins, formulating and implementing monetary and credit policy, serving as the bankers' bank and the government's bank. In addition, the Bank of Korea undertakes the operation and oversight of the payment and settlement systems, and manages the nation's foreign exchange reserves. It also conducts supervisory functions for financial institutions as stipulated in the Bank of Korea Act. http://www.bok.or.kr/eng/engMain.action

Calypso Technology is First Financial Technology Company to Achieve ISO 9001 TickITplus Certification

• Leveraged DNV Business Assurance to complete registration as the first organization in the world to obtain TickITplus Service Management scoped certification

San Francisco, June 10, 2013 — Calypso Technology, Inc., the leading integrated capital markets software provider, today announced that the firm has been certified for the TickITplus Foundation Level, including the Management System Standard for ISO 9001:2008. Using DNV Business Assurance to navigate the registration process, Calypso is the first financial technology company and one of the first companies in the world to achieve this certification.

TickIT is a quality-management certification program for software development and the plus certification represents adherence to a rigorous set of criteria for effective business processes. TikITplus is intended to offer a flexible, multi-level approach to IT quality and certification assessment to capitalize on the strengths of TickIT. The certification covers all of Calypso’s support sites around the world.

“With our ISO 9001/TickIT Quality Management System we achieved a repeatable process and predictable service levels,” Mel Gadd, VP Business Process Engineering at Calypso. “Improvement in our service has been a continuous process. We are in our fifth year of a quality initiative that resulted in ISO 9001/TickIT certification at the mid-point. The most significant improvements in case resolution time came in the first few years when we achieved 52% on average year-on-year reductions. Since achieving certification we have continued to make reductions of between 9% and 15% a year.”

Kishore Bopardikar, President and CEO of Calypso Technology, comments, “Being the first in our sector to achieve TickITplus certification underscores our commitment to upholding the highest standards for quality and efficiency. Calypso believes that by adhering to the industry’s most rigorous criteria for business processes, we differentiate ourselves from the competition in delivering market-leading solutions and customer service.”

Calypso Technology Opens Office in Beijing

• Software leader expands its Asia Pacific footprint as client base increases

Beijing, May 23, 2013 — Calypso Technology, Inc., the leading integrated treasury and capital markets software provider, today announced it has opened an office in Beijing, to service both the domestic and international institutions across the region. This follows recent client successes and continued growth in Greater China.

The office will house sales, professional services and engineering teams to support existing and new clients across Greater China. Charles Marston, Chairman and CEO at Calypso Technology commented: “We are delighted to continue our long-term Asia Pacific growth strategy with the expansion in China. By establishing a regional presence in Beijing, we are well positioned to deliver world-class services efficiently and strategically support client efforts.”

Commenting on the office opening, Mark Bell, Calypso’s Regional General Manager, Greater China said: “Calypso’s solution is recognised for its cross-asset capabilities globally, but key to our strategy has been to identify, understand and implement solutions to meet the challenges faced by local financial institutions.” The Beijing office opening is a testament to Calypso’s commitment and focus on expanding within the Chinese financial markets. Bell continued: “We are developing a strong team in Beijing by relocating some key staff to assist with integrating local hires, to build on the strong foundation Calypso has already established in the region.”

Otkritie Securities Goes Live with Calypso Technology

• Leading Russian Financial Institution rolls out Calypso in front and back office for Repo and Securities Lending and Borrowing (SLB) trading

London, April 30, 2013 — Calypso Technology, Inc., the global capital markets platform provider, announced today that Otkritie Securities, the UK-based subsidiary of Otkritie Financial Corporation, one of the leading financial services providers in Russia, has gone live with phase one of the Calypso project to support its front and back office operations, including collateral management, in its London and Moscow offices.

The Calypso solution will enable Otkritie to improve end-to-end efficiencies, reducing overall costs by removing the number of systems required to run and upgrade operations, and also to support the organization’s future growth and business evolution. Otkritie selected the Calypso system based on its strengths in automation and operational control across all traded asset classes, providing a high degree of straight-through-processing (STP).

In the front office, Calypso will support repo and funding as part of the treasury function, securities lending & borrowing (SLB), FX, loans, and deposits with floating and fixed rates. The firm will use Calypso to perform a wide range of activities including trade capture, price validation, P&L reporting and calculation as well as proprietary and client position capture.

In the back office, cross asset functionality will include collateral management, cash and securities reporting, corporate actions, regulatory trade reporting, custodian and nostro cash settlement and reconciliation, confirmation and settlements, including SWIFT payments. After a successful initial go-live of the front office Repo and SBL, Otkritie will now roll out Calypso as a consolidated back office platform across its operations.

Otkritie was looking for a solution that could grow with the business as volumes are expected to grow significantly over the next few years, particularly in the area of direct market access (DMA) trading. As such, the solution must be scalable to provide operational support for the expected growth.

Sergey Danilin, Global Head of Project Management Office from Otkritie Securities commented, “In order to support our plans for future growth, we need a system that will be flexible, scalable and leveraged across all asset classes. We have found in Calypso a solution that matches our requirements and will also create a partnership to achieve our business and technological objectives”.

Charles Marston, Calypso’s Chairman and CEO states, “Russia represents an exciting and vibrant market for us and we are pleased to be working with an innovative leading organization such as Otkritie. Their selection of our solution reinforces the strengths and scalability of Calypso to support a wide range of trading and treasury functions in this market, and we look forward to assisting Otkritie with their growth plans”.

About Otkritie Securities

Otkritie Securities Limited (OSL) is the UK-based subsidiary of OTKRITIE Financial Corporation, one of the leading financial services providers in Russia, which has acted as a broker, asset manager, financial consultant and investment bank for its clients since 1995.

IndusInd Bank Selects Calypso for Full Front-to-Back Office Treasury Solution

• Cross-asset platform to grow IndusInd’s treasury business and manage risk

Mumbai, 25 April 2013 — Calypso Technology Inc., the leading integrated treasury and capital markets software provider, announced today that IndusInd Bank has selected Calypso Technology’s cross-asset front-to-back solution to grow their treasury activities, increase global markets business and manage risk.

IndusInd Bank looks to fuel its ambitious growth plan by offering its customers sophisticated treasury products and providing them wider access to the markets. As an industry front-runner adopting latest technology solutions, IndusInd Bank was seeking to implement a state-of-the-art treasury platform and Calypso Technology was the best fit.

Calypso Technology’s treasury solution is designed to enable IndusInd Bank quickly introduce new products including derivatives, and provides the ability to contain risk exposure within limits, thereby ensuring that IndusInd Bank remains ahead of the rapidly changing regulatory landscape.

“Implementing the Calypso integrated solution for our treasury will enable us to offer new sophisticated products to our customers and grow our business. It will provide us with the right platform to manage our capital and risk efficiently,” said Paul Abraham, the Chief Operating Officer, IndusInd Bank.

Calypso Technology is committed to expanding and strengthening its local presence in India since opening its Mumbai office in 2006 and has since opened two additional offices in Chennai and Pune. Its engineering, product support, account management and product management teams in India offer worldclass support to local and global clients. “As India continues to expand as one of the world’s leading and most exciting economies, we are delighted to continue our long-term commitment to India and Asia Pacific,” says Calypso Technology Chairman and Co-CEO Charles Marston.

Calypso Technology’s General Manager for APAC, Sean McDermott commented, “We are pleased to be working with IndusInd Bank to help the bank to grow their business and manage their risk effectively. This new addition to our client base is a testament to the scalability and robustness of the Calypso software to support the growth objectives of the bank in one of the fastest developing economies in the world.”

About IndusInd BankIndusInd Bank, which commenced operations in 1994, caters to the needs of both consumer and corporate customers. Its technology platform supports multi-channel delivery capabilities. As on December 31, 2012, IndusInd Bank had 461 branches, and 852 ATMs spread across 320 geographical locations of the country. The Bank also has representative offices in London and Dubai.

The Bank believes in driving its business through technology. It enjoys clearing bank status for both major stock exchanges - BSE and NSE - and major commodity exchanges in the country, including MCX, NCDEX, and NMCE. IndusInd Bank also offers DP facilities for stock and commodity segments.

RATINGS:ICRA AA for Lower Tier II subordinate debt program by ICRA. ICRA AA- for Upper Tier II bond program by ICRA. CRISIL A1+ for certificate of deposit program by CRISIL.Visit us at http://www.indusind.com

Israel’s Bank Leumi Selects Calypso Technology for Full Capital Markets Support

• Platform will deliver full cross-asset, front-to-back office functionalities
• Deal marks first major Israeli client for Calypso

London, UK – 8 April 2013 — Calypso Technology Inc., the global capital markets platform provider, announced today that Bank Leumi, the leading Israeli banking corporation, has selected Calypso to provide a full cross-asset, front-to-back office solution to support its core capital markets business. 

Implementing the Calypso solution will give Bank Leumi a unique platform to monitor the Bank’s global exposure and a scalable and flexible solution for its growing capital markets business. The Calypso platform will provide cross-asset support, including interest rate derivatives, providing all functionality from front office trading through to final delivery and settlement. Specific functionalities will include trading, pricing, risk monitoring, trade processing, settlement, delivery and position-keeping. The platform will also provide a flexible framework, allowing the Bank to bring new products and instruments to market. 

“At Bank Leumi, we were looking for a way to monitor global risk exposure of the Bank, increase actual services capabilities and extend our products and services to our customers and the overall market. Calypso’s solution would clearly allow us to achieve this aim and support our overall business objectives,” said Professor Daniel Tsiddon, Deputy CEO, Bank Leumi, who signed the contract with Kishore Bopardikar, CEO and President of Calypso Technology in Tel Aviv in December 2012.

Implementation began early in January 2013 under Haim Hosman (Global Project Delivery Manager) in Tel Aviv. 

This announcement marks the first signing for Calypso with an Israeli financial institution. “We are delighted to be working with Bank Leumi and supporting their growing and exciting capital markets business,” said Mr. Bopardikar. “Our success here truly demonstrates the demand for tools that allow regional customers and their clients to access global markets. We look forward to working closely with Bank Leumi and playing an important part in the bank’s expansion.”

About Bank Leumi

Bank Leumi and its subsidiaries constitute one of Israel's largest banking groups which began its activities more than 110  years ago.  Leumi is involved in a variety of banking, financial and non-banking activities, in Israel and overseas.  Leumi operates through the Bank, its subsidiaries and associate companies through 270 branches located throughout Israel, and through 61 branches, agencies and representative offices in 17 countries throughout the world.

The Leumi Group includes subsidiaries which provide financial services in various fields, such as credit cards, mortgages and underwriting. 

Further, Leumi invests in non-banking corporations operating in the fields of infrastructure, Israeli and overseas real estate, communications and the media, energy, shipping, food, retail trade and the chemical industry. The Bank is rated by S&P, Moody’s and Fitch. http://english.leumi.co.il/

Calypso Technology Opens News Office in Madrid

• Software leader expands its European footprint as Spanish client base expands

San Francisco, March 25, 2013 — Calypso Technology, Inc., the leading integrated treasury and capital markets software provider, announced that they have opened an office in Madrid, Spain, to service the Spanish and Portuguese markets. This follows the successful recent onboarding of several leading Spanish banks as new clients in 2012.

Charles Marston, Calypso’s Chairman and CEO, commented, “Spain is a key market for Calypso. With Spain’s two largest institutions as clients, it makes sense for us to have a direct presence in Iberia for optimum client servicing.”

The Madrid operations will act as a liaison between Calypso Technology and their Iberian and Latin American clients, largely incorporating Sales and Professional Services teams. Ramón de la Fuente, head of the new office said: “Calypso has ambitious plans for the region. We are building a strong team here by hiring the best technology and business matter experts in the market. We really want to replicate our success from other regions, by being a valuable trusted advisor to financial institutions in Spain and Portugal”.

David Kelly Joins Calypso Technology as Director of Financial Engineering

• Calypso continues to expand quantitative team to support demand for front-office capabilities

San Francisco, February 19, 2013 — Calypso Technology, Inc., the global capital markets platform provider, has announced the appointment of David Kelly as Director of Financial Engineering. Mr. Kelly has nearly 20 years of experience in finance as a trader, quant and technologist and will be responsible for the Financial Engineering team at Calypso.

Mr. Kelly’s hire comes as part of an ongoing initiative to expand Calypso’s expert team of financial engineers and to seek out highly talented, seasoned industry veterans. Mr. Kelly has previously held senior positions at some of the largest financial institutions and was most recently the Director of Credit Product Development at Quantifi. As a member of Quantifi’s senior management team, Mr. Kelly oversaw quantitative and technical staff in providing pricing and risk solutions to global banks, asset managers, hedge funds and insurance companies.

Prior to Quantifi, Mr. Kelly was a senior trader on Citigroup’s CVA desk and was formerly Head of the Global Analytics group at JPMorgan Chase, where he also designed and developed the first CVA pricing and risk management system for the Credit Portfolio Trading desk. Mr. Kelly’s buy-side experience includes serving as CRO for a prominent hedge fund, where he defined and implemented risk management processes and systems. As Director of Financial Engineering at Calypso, Mr. Kelly will be reporting to Tej Sidhu, Senior Vice President of Engineering.

Mr. Kelly comments, “I’m thrilled to be joining Calypso, a firm that has repeatedly made the right calls in pursuing new market opportunities, such as central clearing and the need for consolidated crossasset risk and liquidity management solutions. This is a time of rapid growth and expansion for the firm and I look forward to lending my experience and insights to the Financial Engineering team as we look to further enhance our sophisticated derivatives pricing analytics, including CVA.”

Kishore Bopardikar, President and CEO of Calypso, notes, “David brings tremendous experience and expertise to our Financial Engineering team. His appointment is a part of our commitment to innovation. We are always looking to break new ground in the OTC derivatives industry and David has a history of bringing new and valuable developments to the industry. We are excited to have him on board.”