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/