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/