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