Tokyo, 20 February 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced that Sumitomo Trust & Banking (STB) has gone live with Calypso's innovative interest rate and foreign exchange derivatives software solutions.
STB had been looking for a platform upon which they could grow their Treasury business, while also providing enhanced customer service and improving operational efficiency. The bank selected Calypso as it provides a single platform which supports the broad range of financial instruments that STB trades. In addition, the Calypso solution provides STB with the option to further expand its range of products and services for clients in the future.
“We selected Calypso because we felt that it was a strategic technology solution that would allow us to decrease the time taken to develop new products and release them to clients. We have worked in partnership with Calypso, along with Mitsui Knowledge Industry, to develop a solution that meets our needs in the Japanese market and can be implemented to fully meet the requirements of customers' platforms,” said the Deputy General Manager, Market Making Department at Sumitomo Trust & Banking.
In the first stage of the project, STB was able to move its important FX business onto Calypso. Following that highly successful launch, interest rate and FX derivatives have now been added. This means STB will be able to perform cross product risk analysis and carry out all trading and associated hedging activities on a single, integrated solution.
“In addition to the foreign exchange system already in service, we now have an integrated solution for combined risk, one of the greatest strengths of the Calypso solution. We are looking forward to making full use of its features,” Sumitomo's Deputy General Manager said.
“We are delighted to have played an instrumental role in STB achieving their business objectives. Rolling out a single solution to cover trading and processing of multiple products is the proven way to reduce total cost of ownership. STB's decision to deploy Calypso as that single solution is testament to our strength in that area,” commented Charles Marston, Chairman and CEO of Calypso Technology, Inc. “Working with STB has given us further valuable insight into the Japanese financial marketplace and enabled us to ensure that our solutions meet the unique requirements of the region.”
About Sumitomo Trust & Banking
For further information, please visit http://www.sumitomotrust.co.jp/
Monday, February 20, 2006
Monday, February 6, 2006
Calypso Launches V8
San Francisco, 06 February 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced that it has released Calypso V8 with its increased pre-configuration capabilities. These software enhancements are combined with several new implementation initiatives to provide complete prepackaged solutions which are asset class specific as well as cross-asset.
Calypso V8 combines the functionality developed for large global financial institutions like HSBC, Bear Stearns, and Citigroup with expertise gained from numerous successful implementations to create complete end-to-end software solutions for each capital markets business area. It covers a variety of enhancements and services, including:
Calypso V8 combines the functionality developed for large global financial institutions like HSBC, Bear Stearns, and Citigroup with expertise gained from numerous successful implementations to create complete end-to-end software solutions for each capital markets business area. It covers a variety of enhancements and services, including:
- Market interfaces available 'out of the box', including SwapsWire, DTCC and T-Zero
- Preconfigured trade workflow, reports, accounting rules and confirmations for back office users
- Interfaces to technology infrastructure partners, including DataSynapse and VERITAS
- CalypsoML enhancements to assist with data migration and interfacing
- Calypso University offering a range of training courses including asset class specific and certification training
- Development of packaged implementations in partnership with select partner firms.
These standardized offerings combine the best of breed functionality used at top tier firms with tools to simplify the implementation process and are designed to enable Calypso users to have the ability to accurately define their project requirements and plan the total implementation accordingly leading to lowering the customer's total cost of ownership.
“Our involvement in a range of projects at financial organizations both large and small has taught us the most efficient way to get our customers into production. We are keen to share this knowledge in order to provide our customers with the ability to quantify their projects towards their successful completion,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc. “By packaging our software solutions in this way, customers can choose to leverage the experience the Calypso team has acquired or to maximize the extensibility of the Calypso software by customizing it to the users needs.”
Calypso V8 also introduces major enhancements in the commodities module and expands the structuring of exotic hybrid products through eXSP™ for all asset classes.
Monday, November 7, 2005
Calypso Ranked Among Fastest Growing Private US Companies of 2005
San Francisco, 07 November 2005 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced it had been ranked as one of the fastest-growing private companies in the US by Inc. magazine. The Inc. 500 ranking is based on Calypso’s achievement of a high three-year sales growth rate.
Calypso has seen strong growth in demand for its integrated trading system in recent years and has been selected by financial institutions such as Citigroup, HSBC, Bear Stearns, Dresdner and Wells Fargo. During this time, Calypso has also expanded its global presence and significantly increased headcount worldwide.
“Inclusion in a prestigious ranking like the Inc. 500 underlines Calypso’s strong performance and the value of the solutions we bring to the market. It also demonstrates that not only is there a genuine need for capital markets trading solutions, but that the Calypso offering can competently meet that need. We are building a company for continued growth, and are pleased to be recognized for our past performance,” added Charles Marston, Chairman and CEO of Calypso Technology, Inc.
The Inc. 500 ranks privately held companies in North America according to year-over-year sales growth from 2001 to 2004. Companies are ranked on cumulative three-year sales growth from 2001 to 2004. Over the years, the Inc. 500 has identified the next generation of world-class companies, with Microsoft, Timberland, Oracle, Morningstar, Gateway, E*Trade, Intuit, and Domino's Pizza all appearing on the list before they became industry powerhouses. The full ranking is published in the November issue of Inc. magazine.
Calypso has seen strong growth in demand for its integrated trading system in recent years and has been selected by financial institutions such as Citigroup, HSBC, Bear Stearns, Dresdner and Wells Fargo. During this time, Calypso has also expanded its global presence and significantly increased headcount worldwide.
“Inclusion in a prestigious ranking like the Inc. 500 underlines Calypso’s strong performance and the value of the solutions we bring to the market. It also demonstrates that not only is there a genuine need for capital markets trading solutions, but that the Calypso offering can competently meet that need. We are building a company for continued growth, and are pleased to be recognized for our past performance,” added Charles Marston, Chairman and CEO of Calypso Technology, Inc.
The Inc. 500 ranks privately held companies in North America according to year-over-year sales growth from 2001 to 2004. Companies are ranked on cumulative three-year sales growth from 2001 to 2004. Over the years, the Inc. 500 has identified the next generation of world-class companies, with Microsoft, Timberland, Oracle, Morningstar, Gateway, E*Trade, Intuit, and Domino's Pizza all appearing on the list before they became industry powerhouses. The full ranking is published in the November issue of Inc. magazine.
Thursday, October 20, 2005
Calypso Appoints Gerard Rafie as VP of Marketing
San Francisco, 20 October 2005 – Calypso Technology, Inc., today announced the appointment of Gerard Rafie as Vice President of Marketing. Based in San Francisco, Mr. Rafie will be responsible for building total solution packages around the Calypso system, encompassing best market practice guidelines, standardized implementations and training clients and partners through the Calypso University program. Mr. Rafie will serve on Calypso’s executive team.
Prior to joining Calypso, Mr. Rafie served for 13 years at Murex SA where, most recently, he was responsible for sales in EMEA following several senior roles in engineering, support, product management and professional services.
Gerard Rafie comments: “Calypso’s software technology is best of breed. By adding the total implementation and support infrastructure around the system itself, we are creating a series of entire solutions for each area of the capital markets business. This will cement Calypso’s position as the market-leading vendor and further strengthen our existing offering.”
“Gerard joins us at an exciting time for Calypso. We have been working on developing total solutions for our clients by business area. Gerard will continue this initiative to ensure that Calypso serves as a ‘one-stop shop’ for advice, training and identification of suitable resources in the appropriate field,” added Charles Marston, Chairman and CEO of Calypso Technology, Inc.
Prior to joining Calypso, Mr. Rafie served for 13 years at Murex SA where, most recently, he was responsible for sales in EMEA following several senior roles in engineering, support, product management and professional services.
Gerard Rafie comments: “Calypso’s software technology is best of breed. By adding the total implementation and support infrastructure around the system itself, we are creating a series of entire solutions for each area of the capital markets business. This will cement Calypso’s position as the market-leading vendor and further strengthen our existing offering.”
“Gerard joins us at an exciting time for Calypso. We have been working on developing total solutions for our clients by business area. Gerard will continue this initiative to ensure that Calypso serves as a ‘one-stop shop’ for advice, training and identification of suitable resources in the appropriate field,” added Charles Marston, Chairman and CEO of Calypso Technology, Inc.
Wednesday, September 21, 2005
Calypso Adds Prominent Executives to Board of Directors
San Francisco, 21 September 2005 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced the expansion of its Board with the appointment of three additional independent outside directors. Frank Fanzilli, former CIO of Credit Suisse First Boston, Barry Sabloff, former EVP and Head of The International Group at Bank One, and Paul Sallaberry, previously EVP of Worldwide Field Operations at Veritas Software, have all been added to Calypso’s Board of Directors. The company has spent the past twelve months in a selection process for its Board of Directors, and the recent appointments come as a result of this effort. Ronald Codd, former CFO of PeopleSoft, was appointed to the Calypso Board as an independent director earlier this year.
Frank Fanzilli brings to Calypso his extensive experience of managing the IT organization of a top Wall Street institution. During his 17 year tenure at Credit Suisse First Boston, Mr. Fanzilli consolidated and integrated the bank’s extensive IT resources, managing 4,000 IT professionals and $1.5bn in spending. He also brings valuable public and private company board experience, which includes serving on the Board of Directors of PeopleSoft during its acquisition by Oracle.
Barry Sabloff has held several executive and board positions in the financial services industry and brings important insight into the capital markets industry to Calypso’s Board. During his 30 year career with First Chicago and Bank One, Mr. Sabloff held a number of leadership roles including Head of Global Risk Management, which included responsibility for the front office of global derivatives and foreign exchange trading and the back office and systems for capital markets.
Paul Sallaberry joins the Board as the sales and professional services expert. Previously, he was the EVP of Field Operations at Veritas Software, prior to its acquisition by Symantec. Mr. Sallaberry was responsible for defining strategy and managing operational activity that generated revenue in excess of $1.5bn. Under his leadership, the firm consistently met profit goals for the corporation’s global multi-tier sales distribution and professional services operations.
The expansion of the new board is part of the strategic plan to prepare the company for the next level of growth.
“We view our Board of Directors not just as a vehicle for sound corporate governance, but as a source of critical and strategic business insight,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc. “As we become a larger firm and continue our growth path, we believe Calypso shareholders will benefit from our director’s wisdom and business experience. Our new board members bring a deep understanding of how to build and scale an organization to deliver consistent growth results year after year, which is based principally on our clients gaining real value from effectively using our software technology in their business.”
Calypso’s clients include Citigroup, Bear Stearns, HSBC, ING, Wachovia, Wells Fargo, SunTrust, BNP Paribas, Société Générale, Calyon, Rabobank, ING, HVB Group, Dresdner Bank and the Royal Bank of Scotland.
Frank Fanzilli brings to Calypso his extensive experience of managing the IT organization of a top Wall Street institution. During his 17 year tenure at Credit Suisse First Boston, Mr. Fanzilli consolidated and integrated the bank’s extensive IT resources, managing 4,000 IT professionals and $1.5bn in spending. He also brings valuable public and private company board experience, which includes serving on the Board of Directors of PeopleSoft during its acquisition by Oracle.
Barry Sabloff has held several executive and board positions in the financial services industry and brings important insight into the capital markets industry to Calypso’s Board. During his 30 year career with First Chicago and Bank One, Mr. Sabloff held a number of leadership roles including Head of Global Risk Management, which included responsibility for the front office of global derivatives and foreign exchange trading and the back office and systems for capital markets.
Paul Sallaberry joins the Board as the sales and professional services expert. Previously, he was the EVP of Field Operations at Veritas Software, prior to its acquisition by Symantec. Mr. Sallaberry was responsible for defining strategy and managing operational activity that generated revenue in excess of $1.5bn. Under his leadership, the firm consistently met profit goals for the corporation’s global multi-tier sales distribution and professional services operations.
The expansion of the new board is part of the strategic plan to prepare the company for the next level of growth.
“We view our Board of Directors not just as a vehicle for sound corporate governance, but as a source of critical and strategic business insight,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc. “As we become a larger firm and continue our growth path, we believe Calypso shareholders will benefit from our director’s wisdom and business experience. Our new board members bring a deep understanding of how to build and scale an organization to deliver consistent growth results year after year, which is based principally on our clients gaining real value from effectively using our software technology in their business.”
Calypso’s clients include Citigroup, Bear Stearns, HSBC, ING, Wachovia, Wells Fargo, SunTrust, BNP Paribas, Société Générale, Calyon, Rabobank, ING, HVB Group, Dresdner Bank and the Royal Bank of Scotland.
Wednesday, September 7, 2005
Calypso Launches CalypsoML
Sibos - Copenhagen, 07 September 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software solutions, today announced the launch of CalypsoML, which enables customers to interchange data in XML format. CalypsoML is a component of the comprehensive suite of Calypso solutions spanning all capital markets products.
With increasing importance for any solution to fit well within a bank's enterprise environment, CalypsoML is focused on ensuring that the Calypso application communicates effectively with all existing systems. By streamlining the import and export of data using XML, CalypsoML actively reduces the cost of implementations by eliminating the need to write code for integration, ultimately reducing the time taken to implement Calypso solutions.
"Each client's relationship with Calypso extends beyond the solution itself," stated Kishore Bopardikar, Founder and President of Calypso Technology, Inc. "We always seek ways to further enhance the total service and software we provide, and improvements to the Calypso implementation process are a critical part of this endeavor. CalypsoML was designed to allow our clients to better manage their associated project costs and to streamline the process of integrating Calypso solutions within their own infrastructure."
With increasing importance for any solution to fit well within a bank's enterprise environment, CalypsoML is focused on ensuring that the Calypso application communicates effectively with all existing systems. By streamlining the import and export of data using XML, CalypsoML actively reduces the cost of implementations by eliminating the need to write code for integration, ultimately reducing the time taken to implement Calypso solutions.
"Each client's relationship with Calypso extends beyond the solution itself," stated Kishore Bopardikar, Founder and President of Calypso Technology, Inc. "We always seek ways to further enhance the total service and software we provide, and improvements to the Calypso implementation process are a critical part of this endeavor. CalypsoML was designed to allow our clients to better manage their associated project costs and to streamline the process of integrating Calypso solutions within their own infrastructure."
Tuesday, September 6, 2005
Rabobank Goes Live on Calypso for FX Processing
Sibos - Copenhagen, 06 September 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today announced that Rabobank is now live on Calypso for FX processing.
Rabobank needed a replacement for its legacy system that would provide the desired level of automation and support the growth of the FX business going forward. It was essential that the chosen solution allowed Rabobank to maintain a high level of service to clients while streamlining its back office processes.
The bank went through a selection process which saw Calypso judged against other vendors in evaluations and workshops. Calypso was selected as it met all expectations for the automation of commoditised FX products while assisting Rabobank in managing its client base. The back office module in Calypso includes exception management functionality – which allows Rabobank to view breaks in the automated process and take the necessary steps to repair them – bringing users additional controls in the back office.
René Steenhart, Head of Operations at Rabobank, commented: "Providing exceptional service to our clients has always been a priority within Rabobank, and at the same time we wanted to achieve a more streamlined process in our back office. Calypso has enabled us to meet these twin goals."
Charles Marston, Chairman and CEO of Calypso Technology, Inc. said: "Reducing costs is a key area of focus in the back office, however it is essential that this is achieved without impacting the level of service that discerning clients have come to expect. We are delighted to have worked with Rabobank to assist them in this area."
About Rabobank
The Rabobank Group is the largest financial services provider in the Dutch market. Owing to its co-operative foundation, the Rabobank Group's primary drive is to act in its clients' interest. Its core objective is to create and increase customer value. The Rabobank Group is the world's most creditworthy privately owned financial institution. It has over nine million private and business customers and is market leader in the Netherlands in virtually every area of financial services. The Rabobank Group consists of 275 independent local Rabobanks in the Netherlands, all of them co-operatives with a combined total of 1.5 million members. The Rabobank Group also encompasses internationally well known specialised entities such as Rabobank International (corporate banking, investment banking and international retail banking), De Lage Landen (leasing and vendor finance), Gilde Investment (venture capital), Interpolis (insurance) and Robeco (asset management). Its international network encompasses 244 offices in 37 countries. For further information, please visit http://www.rabobank.com/content/.
Rabobank needed a replacement for its legacy system that would provide the desired level of automation and support the growth of the FX business going forward. It was essential that the chosen solution allowed Rabobank to maintain a high level of service to clients while streamlining its back office processes.
The bank went through a selection process which saw Calypso judged against other vendors in evaluations and workshops. Calypso was selected as it met all expectations for the automation of commoditised FX products while assisting Rabobank in managing its client base. The back office module in Calypso includes exception management functionality – which allows Rabobank to view breaks in the automated process and take the necessary steps to repair them – bringing users additional controls in the back office.
René Steenhart, Head of Operations at Rabobank, commented: "Providing exceptional service to our clients has always been a priority within Rabobank, and at the same time we wanted to achieve a more streamlined process in our back office. Calypso has enabled us to meet these twin goals."
Charles Marston, Chairman and CEO of Calypso Technology, Inc. said: "Reducing costs is a key area of focus in the back office, however it is essential that this is achieved without impacting the level of service that discerning clients have come to expect. We are delighted to have worked with Rabobank to assist them in this area."
About Rabobank
The Rabobank Group is the largest financial services provider in the Dutch market. Owing to its co-operative foundation, the Rabobank Group's primary drive is to act in its clients' interest. Its core objective is to create and increase customer value. The Rabobank Group is the world's most creditworthy privately owned financial institution. It has over nine million private and business customers and is market leader in the Netherlands in virtually every area of financial services. The Rabobank Group consists of 275 independent local Rabobanks in the Netherlands, all of them co-operatives with a combined total of 1.5 million members. The Rabobank Group also encompasses internationally well known specialised entities such as Rabobank International (corporate banking, investment banking and international retail banking), De Lage Landen (leasing and vendor finance), Gilde Investment (venture capital), Interpolis (insurance) and Robeco (asset management). Its international network encompasses 244 offices in 37 countries. For further information, please visit http://www.rabobank.com/content/.
Thursday, July 21, 2005
DataSynapse and Calypso Expand Partnership to Offer Pre-Integrated Grid Computing Solutions to Leading Financial Institutions
New York and San Francisco, 21 July 2005 – DataSynapse, Inc., the fastest-growing provider of grid-computing solutions for the virtual enterprise, and Calypso Technology, Inc., a leading provider of cross-asset trading solutions for the capital markets industry, today announced that DataSynapse’s GridServer ® infrastructure software is now available pre-integrated with the Calypso trading platform.
Traders and risk managers using Calypso can access an enterprise level grid computing solution. Calypso users will benefit from being able to run Calypso’s market-leading solution within a highly scalable environment that optimizes available system and data resources across the enterprise. With GridServer, financial institutions can guarantee workload execution and respond to changing business requirements in real time, satisfying the volatile and unpredictable demand for computer processing power.
“The lifeblood of our clients’ business is being able to make informed decisions based on accurate and timely risk calculations and financial projections,” said Kishore Bopardikar, founder and president of Calypso Technology, Inc. “Calypso brings to market a superior product offering and flexible IT infrastructure which is able to support high-volume and complex calculations and to improve time-to-results to build a competitive edge. Our partnership with DataSynapse will enable us to further build upon this capability.”
The joint solution was co-developed by Calypso and DataSynapse and joint clients have already begun to benefit from using Calypso together with GridServer. One global bank acknowledges that with the jointly deployed solution, the bank can now easily support an increase in global trading volume without having to incur additional development or support costs.
“The Calypso partnership extends DataSynapse’s leadership position in financial services and provides the market with a robust and seamless solution equipped to handle the speed and capacity requirements demanded by the business,” said Mark Mszanski, executive vice president of global field operations at DataSynapse. “The joint offering ensures that users receive a fully optimized solution as new requirements surface for guaranteed application resiliency, resource utilization and high-performance computing.”
About DataSynapse
DataSynapse, Inc. provides grid-computing solutions for the virtual enterprise, helping organizations drive new levels of business performance through the creation of an agile and responsive IT infrastructure. The company’s standards-based GridServer® software virtualizes data components and business logic found in business-critical applications and distributes these services across available system resources on demand – establishing a utility computing model that eliminates performance barriers, significantly increases service levels and radically lowers total cost of ownership. DataSynapse works with the world’s largest financial institutions including Bank of America, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs and Nationwide, as well as market leaders in the government, energy and industrial sectors. The company is headquartered in New York and can be found at http://www.datasynapse.com/.
Traders and risk managers using Calypso can access an enterprise level grid computing solution. Calypso users will benefit from being able to run Calypso’s market-leading solution within a highly scalable environment that optimizes available system and data resources across the enterprise. With GridServer, financial institutions can guarantee workload execution and respond to changing business requirements in real time, satisfying the volatile and unpredictable demand for computer processing power.
“The lifeblood of our clients’ business is being able to make informed decisions based on accurate and timely risk calculations and financial projections,” said Kishore Bopardikar, founder and president of Calypso Technology, Inc. “Calypso brings to market a superior product offering and flexible IT infrastructure which is able to support high-volume and complex calculations and to improve time-to-results to build a competitive edge. Our partnership with DataSynapse will enable us to further build upon this capability.”
The joint solution was co-developed by Calypso and DataSynapse and joint clients have already begun to benefit from using Calypso together with GridServer. One global bank acknowledges that with the jointly deployed solution, the bank can now easily support an increase in global trading volume without having to incur additional development or support costs.
“The Calypso partnership extends DataSynapse’s leadership position in financial services and provides the market with a robust and seamless solution equipped to handle the speed and capacity requirements demanded by the business,” said Mark Mszanski, executive vice president of global field operations at DataSynapse. “The joint offering ensures that users receive a fully optimized solution as new requirements surface for guaranteed application resiliency, resource utilization and high-performance computing.”
About DataSynapse
DataSynapse, Inc. provides grid-computing solutions for the virtual enterprise, helping organizations drive new levels of business performance through the creation of an agile and responsive IT infrastructure. The company’s standards-based GridServer® software virtualizes data components and business logic found in business-critical applications and distributes these services across available system resources on demand – establishing a utility computing model that eliminates performance barriers, significantly increases service levels and radically lowers total cost of ownership. DataSynapse works with the world’s largest financial institutions including Bank of America, Credit Suisse First Boston, Deutsche Bank, Goldman Sachs and Nationwide, as well as market leaders in the government, energy and industrial sectors. The company is headquartered in New York and can be found at http://www.datasynapse.com/.
Tuesday, June 21, 2005
Calypso Enables Rand Merchant Bank to Achieve an Average 70% Efficiency Gain
San Francisco, 21 June 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today reported that Rand Merchant Bank (RMB) has experienced marked improvements in efficiency following the implementation of Calypso in its interest rate derivatives business. RMB has recorded an average 70% efficiency gain for the IRD products currently live on Calypso.
“Our goal was to achieve greater efficiency through better controls and Calypso has assisted us with this. As we continue to roll out the solution across asset classes and business areas, I’m sure we’ll continue to see further benefits,” commented Wendy Donaldson – RMB, Treasury Operations.
“The working relationship between RMB and Calypso has proved to be beneficial to both parties and we look forward to continuing to work together. Calypso’s technology distinguishes it from other players in the capital markets space, and it is this strength that has been appreciated by RMB,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.
RMB licensed Calypso as a cross-asset front to back software system and was Calypso’s first South African client. The bank went live with the Calypso solution for payments in Q3 2004.
About Rand Merchant Bank
Rand Merchant Bank (RMB) is the investment banking arm of FirstRand, one of South Africa’s largest, publicly quoted financial services groups. RMB is a full-service investment bank with offices in South Africa, Ireland, the United Kingdom, Mauritius and Australia. RMB has enjoyed uninterrupted profit growth since its formation in 1977. Independent surveys consistently rank it first in mergers and acquisitions, BEE listings, corporate finance, structured and project finance, private equity and as the leading debt house in South Africa.
“Our goal was to achieve greater efficiency through better controls and Calypso has assisted us with this. As we continue to roll out the solution across asset classes and business areas, I’m sure we’ll continue to see further benefits,” commented Wendy Donaldson – RMB, Treasury Operations.
“The working relationship between RMB and Calypso has proved to be beneficial to both parties and we look forward to continuing to work together. Calypso’s technology distinguishes it from other players in the capital markets space, and it is this strength that has been appreciated by RMB,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.
RMB licensed Calypso as a cross-asset front to back software system and was Calypso’s first South African client. The bank went live with the Calypso solution for payments in Q3 2004.
About Rand Merchant Bank
Rand Merchant Bank (RMB) is the investment banking arm of FirstRand, one of South Africa’s largest, publicly quoted financial services groups. RMB is a full-service investment bank with offices in South Africa, Ireland, the United Kingdom, Mauritius and Australia. RMB has enjoyed uninterrupted profit growth since its formation in 1977. Independent surveys consistently rank it first in mergers and acquisitions, BEE listings, corporate finance, structured and project finance, private equity and as the leading debt house in South Africa.
Wednesday, May 11, 2005
Calypso Software Chosen by Bear Stearns
San Francisco, 11 May 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today announced that Bear Stearns has chosen Calypso as its front to back system for derivatives.
The selection of Calypso’s software represents a strategic decision by Bear Stearns to consolidate trading and processing for credit, interest rate and equity derivatives on to a single platform.
Peter Cherasia, chief information officer of Bear Stearns, explained: “There was a need to make changes in the business to improve efficiency. Our vision was of a derivatives operation that was streamlined from front to back and we opted to achieve this through the use of Calypso’s integrated solution.”
Sandeep Saksena, Head of Global Derivatives IT at Bear Stearns, commented: “Technology is vital to the success of our derivatives businesses, and Calypso gives us the modern technical infrastructure required to support continued growth. We see it as a competitive advantage in our markets.”
Charles Marston, chairman and CEO of Calypso Technology, Inc., said: “We are pleased to be part of Bear’s investment in its future derivatives platform. In rationalizing its technology environment, Bear is actively addressing a problem faced by many trading organizations. It is a decisive step. That they take that step with Calypso is a measure of our accomplishment as provider of solutions to the financial industry.”
About Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. is the parent company of Bear, Stearns & Co. Inc., a leading investment banking and securities trading and brokerage firm serving governments, corporations, institutions and individuals worldwide. With approximately $48.5 billion in total capital, the company’s business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, securities research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker-dealer clearing services, including clearing and securities lending. Headquartered in New York City , the company has approximately 11,000 employees worldwide. For additional information about Bear Stearns, please visit http://www.bearstearns.com/
The selection of Calypso’s software represents a strategic decision by Bear Stearns to consolidate trading and processing for credit, interest rate and equity derivatives on to a single platform.
Peter Cherasia, chief information officer of Bear Stearns, explained: “There was a need to make changes in the business to improve efficiency. Our vision was of a derivatives operation that was streamlined from front to back and we opted to achieve this through the use of Calypso’s integrated solution.”
Sandeep Saksena, Head of Global Derivatives IT at Bear Stearns, commented: “Technology is vital to the success of our derivatives businesses, and Calypso gives us the modern technical infrastructure required to support continued growth. We see it as a competitive advantage in our markets.”
Charles Marston, chairman and CEO of Calypso Technology, Inc., said: “We are pleased to be part of Bear’s investment in its future derivatives platform. In rationalizing its technology environment, Bear is actively addressing a problem faced by many trading organizations. It is a decisive step. That they take that step with Calypso is a measure of our accomplishment as provider of solutions to the financial industry.”
About Bear Stearns
Founded in 1923, The Bear Stearns Companies Inc. is the parent company of Bear, Stearns & Co. Inc., a leading investment banking and securities trading and brokerage firm serving governments, corporations, institutions and individuals worldwide. With approximately $48.5 billion in total capital, the company’s business includes corporate finance and mergers and acquisitions, institutional equities and fixed income sales and trading, securities research, private client services, derivatives, foreign exchange and futures sales and trading, asset management and custody services. Through Bear, Stearns Securities Corp., it offers prime broker and broker-dealer clearing services, including clearing and securities lending. Headquartered in New York City , the company has approximately 11,000 employees worldwide. For additional information about Bear Stearns, please visit http://www.bearstearns.com/
Monday, April 25, 2005
SemperMacro Selects Calypso
San Francisco, 25 April 2005 – Calypso Technology , Inc., a leading provider of cross-asset front to back trading solutions for the capital markets industry, today announced that SemperMacro has chosen the Calypso system to support all trading and trade processing.
SemperMacro needed a system that was designed to be cross-asset in order to competently handle the full range of instruments traded under the Global Macro strategy from trade entry through to confirmations and settlements. As SemperMacro are launching with a sizeable amount of assets under management, using a strong system from the outset was essential, rather than purchasing a packaged hedge fund solution and upgrading later. Calypso met the requirements of their traders by allowing them to trade numerous instruments but also by capturing the way they view risk.
Stefan Pollmann, Partner – COO of SemperMacro, said: “We were looking to build our business with the support of a very robust front to back office system. This was our initial vision and Calypso met all our requirements.”
Roland Sapsford, Director – London for Calypso Technology, commented: “We are glad to welcome SemperMacro as a customer and are pleased to be supporting them in the launch of their fund. Calypso’s key strength lies in its ability to support a range of instruments and this is resulting in it becoming the system of choice for hedge funds with sophisticated requirements.”
About SemperMacro
SemperMacro, a division of Fulcrum Asset Management LLP, is a Global Macro Fund launching in June 2005.
SemperMacro needed a system that was designed to be cross-asset in order to competently handle the full range of instruments traded under the Global Macro strategy from trade entry through to confirmations and settlements. As SemperMacro are launching with a sizeable amount of assets under management, using a strong system from the outset was essential, rather than purchasing a packaged hedge fund solution and upgrading later. Calypso met the requirements of their traders by allowing them to trade numerous instruments but also by capturing the way they view risk.
Stefan Pollmann, Partner – COO of SemperMacro, said: “We were looking to build our business with the support of a very robust front to back office system. This was our initial vision and Calypso met all our requirements.”
Roland Sapsford, Director – London for Calypso Technology, commented: “We are glad to welcome SemperMacro as a customer and are pleased to be supporting them in the launch of their fund. Calypso’s key strength lies in its ability to support a range of instruments and this is resulting in it becoming the system of choice for hedge funds with sophisticated requirements.”
About SemperMacro
SemperMacro, a division of Fulcrum Asset Management LLP, is a Global Macro Fund launching in June 2005.
Monday, April 4, 2005
Calypso Launches Calypso eXSP™ Solution
San Francisco, 04 April 2005 – Calypso Technology , Inc. (Calypso) a leading provider of cross-asset front to back trading and trade processing software systems, today announced the launch of Calypso eXSP™, its exotic structured products trading solution. A front to back solution, Calypso eXSP™ has the ability to handle total structuring, risk management and processing of these complex instruments.
By enabling the processing of exotic structured products in a single system, Calypso eXSP™ helps banks to improve controls and more accurately manage their risk, while maintaining the flexibility needed for users as the products continue to become more complex in nature. Exotic structured products have historically created processing and risk management challenges for banks, which have been forced to structure and manage these instruments in spreadsheets and book them as individual components in disparate trading systems. Calypso eXSP™ can handle numerous hybrid instruments with cashflows indexed to underlyings that span any combination of interest rates, foreign exchange, equity, bond or commodity prices and indices. Importantly, new structures can be entered without requiring any code changes to the system, eliminating the need for IT departments to program each structure individually.
“The market for hybrid products that are linked to a number of different asset groups has enormous potential as banks are becoming more creative when serving their clients,” Kishore Bopardikar, President of Calypso Technology, Inc. explains. “It is essential that technology is able to keep pace with this creativity and complexity, and as a modern purpose-built solution, Calypso eXSP™ is well-positioned to meet the demands of this market.”
Kwong Li, Senior Business Analyst for Calypso Technology, Inc. adds: “Yield enhancing instruments are becoming more necessary in low interest environments and hybrid products which combine various underlyings are growing in popularity. Target Redemption Notes, Range Accruals, Power Reverse Dual Currency Notes and Snowballs are just a few of the products that are gaining tremendous popularity as a result. Pricing and processing of hybrids has proved challenging in the past and has been a deterrent for some banks who are looking to produce complex instruments themselves for distribution to their clients.”
Calypso eXSP™ is fully integrated within Calypso’s cross-asset front to back software system.
By enabling the processing of exotic structured products in a single system, Calypso eXSP™ helps banks to improve controls and more accurately manage their risk, while maintaining the flexibility needed for users as the products continue to become more complex in nature. Exotic structured products have historically created processing and risk management challenges for banks, which have been forced to structure and manage these instruments in spreadsheets and book them as individual components in disparate trading systems. Calypso eXSP™ can handle numerous hybrid instruments with cashflows indexed to underlyings that span any combination of interest rates, foreign exchange, equity, bond or commodity prices and indices. Importantly, new structures can be entered without requiring any code changes to the system, eliminating the need for IT departments to program each structure individually.
“The market for hybrid products that are linked to a number of different asset groups has enormous potential as banks are becoming more creative when serving their clients,” Kishore Bopardikar, President of Calypso Technology, Inc. explains. “It is essential that technology is able to keep pace with this creativity and complexity, and as a modern purpose-built solution, Calypso eXSP™ is well-positioned to meet the demands of this market.”
Kwong Li, Senior Business Analyst for Calypso Technology, Inc. adds: “Yield enhancing instruments are becoming more necessary in low interest environments and hybrid products which combine various underlyings are growing in popularity. Target Redemption Notes, Range Accruals, Power Reverse Dual Currency Notes and Snowballs are just a few of the products that are gaining tremendous popularity as a result. Pricing and processing of hybrids has proved challenging in the past and has been a deterrent for some banks who are looking to produce complex instruments themselves for distribution to their clients.”
Calypso eXSP™ is fully integrated within Calypso’s cross-asset front to back software system.
Thursday, March 31, 2005
HVB Live on Calypso's FX Solution
San Francisco, 31 March 2005 – Calypso Technology , Inc., a leading provider of cross-asset front to back trading and trade processing software systems, announces today that HVB has gone live with Calypso’s award-winning back office software system for FX processing.
HVB was looking to introduce an automated system into the back office for FX, MM and FX options to further improve quality of processing as well as STP rates and considered several options to achieve this. By implementing Calypso across these business areas, HVB can benefit from the efficiencies of a single system, built on modern technology. The Calypso system provides full STP for all FX, MM and FX options instruments and enables HVB to reduce costs in the back office, while retaining the necessary scalability to handle growth in volumes as it occurs.
Frank Elbe, Senior VP Operations, within the Financial Markets Service Bank, a subsidiary of the HVB Group, commented: “With the implementation of FX processing as a first step we could immediately benefit from the flexibility the system offers. For example, the introduction of kick-off events for payments in accordance with clearing cut-off times reduced the number of investigations already and will also help us to further decrease our running costs by optimizing our outbound messages. We are looking forward to the next two phases of the project being completed.”
“We are pleased to be working with HVB on this project and are delighted that they are already benefiting from the implementation in FX processing. We hope to replicate this in the next two phases of the project,” said Charles Marston, CEO of Calypso Technology, Inc. “A streamlined back office system across FX, MM and FX options operations can provide significant cost savings while improving efficiency. When this is developed using technology that is extensible and has the necessary flexibility, banks can be sure that the system will continue to support the ongoing evolution in the FX business in the future.”
HVB was looking to introduce an automated system into the back office for FX, MM and FX options to further improve quality of processing as well as STP rates and considered several options to achieve this. By implementing Calypso across these business areas, HVB can benefit from the efficiencies of a single system, built on modern technology. The Calypso system provides full STP for all FX, MM and FX options instruments and enables HVB to reduce costs in the back office, while retaining the necessary scalability to handle growth in volumes as it occurs.
Frank Elbe, Senior VP Operations, within the Financial Markets Service Bank, a subsidiary of the HVB Group, commented: “With the implementation of FX processing as a first step we could immediately benefit from the flexibility the system offers. For example, the introduction of kick-off events for payments in accordance with clearing cut-off times reduced the number of investigations already and will also help us to further decrease our running costs by optimizing our outbound messages. We are looking forward to the next two phases of the project being completed.”
“We are pleased to be working with HVB on this project and are delighted that they are already benefiting from the implementation in FX processing. We hope to replicate this in the next two phases of the project,” said Charles Marston, CEO of Calypso Technology, Inc. “A streamlined back office system across FX, MM and FX options operations can provide significant cost savings while improving efficiency. When this is developed using technology that is extensible and has the necessary flexibility, banks can be sure that the system will continue to support the ongoing evolution in the FX business in the future.”
Tuesday, March 22, 2005
Calypso Increases Capacity Globally To Cater For Client Demand
San Francisco, 22 March 2005 – Calypso Technology, Inc. (Calypso) a leading provider of cross-asset front to back trading and trade processing software systems, announced today that it has expanded its presence globally to accommodate recent hires and in anticipation of further recruitment plans for 2005. Recent new client wins and a strong outlook for 2005 have fuelled growth in all regions, and the company is increasing capacity in response to the growing number of customers.
Calypso's San Francisco headquarters has more than doubled in capacity in order to accommodate the increase in headcount. In addition, Calypso is expanding in each of its key geographic markets:
Calypso's San Francisco headquarters has more than doubled in capacity in order to accommodate the increase in headcount. In addition, Calypso is expanding in each of its key geographic markets:
- In the Americas, Calypso's New York office has expanded with new hires and relocated to mid-town Manhattan, close to several key clients.
- In addition to growing and relocating its Sydney office, Calypso has also opened an office in Singapore as part of ongoing investment in the Asia-Pacific region. As a leading financial centre in Asia, Singapore was chosen for its proximity to the leading banks and as a strong location for recruiting industry talent. Calypso has had offices in Sydney since 2001 and Tokyo since 2002.
- Europe has seen continued growth with the expansion of the London office. Calypso has had a presence in Europe since 1998 and also has offices in Paris and Frankfurt.
Charles Marston, Chairman and CEO of Calypso Technology, Inc. said: "2004 was another profitable year for Calypso. The strong demand for our product translates to an increased need for Calypso's technical expertise. In order to support our steadily growing customer base, and to respond to the opportunities in the markets we serve, we have been actively recruiting talented professionals with experience in a variety of product areas with a special emphasis on pre-sales and post sales client support. The growth we are experiencing is exciting for us and we look forward to continued success in all regions.
Thursday, March 17, 2005
Calypso Appoints Peoplesoft Veteran Ron Codd To Board of Directors
San Francisco, 17 March 2005 – Calypso Technology, Inc., a leading provider of cross-asset front-to-back trading solutions for the capital markets industry, today announced the addition of Ronald E. F. Codd to the company's board of directors. As Calypso's first independent director, Mr. Codd will serve in the audit committee chairmanship and as the board's financial expert.
Mr. Codd previously served at PeopleSoft, Inc. as CFO, Senior Vice President of Finance and Administration, and Secretary of the company. During his 7-year tenure at PeopleSoft, the company grew its annual revenues from $15 million to $1.5 billion and its employment base from 75 to approximately 7,000, a 10,000% growth rate. Mr. Codd marshalled PeopleSoft's successful Initial Public Offering in 1992.
Following his tenure at PeopleSoft, Mr. Codd assumed the role of President, CEO and Secretary at spin-out software firm Momentum Business Applications, Inc. which was later repurchased by PeopleSoft. Including his tenure at PeopleSoft, Mr. Codd has over 23 years of financial and administrative experience with rapid-growth technology companies, including MIPS Computer Systems, Inc., Wyse Technology and Tandem Computers, Inc. Mr. Codd currently operates as an independent executive consultant for various high technology companies and is on the board of directors of four other software companies, two of which are publicly held.
"Calypso is strategically positioned and financially healthy. Its highly differentiated software products address the urgent needs of capital market firms today, and the company has an excellent opportunity for continued growth," said Mr. Codd. "I look forward to working with Calypso's management team to prepare Calypso for its next stage of growth as we continue to enhance shareholder value."
"Having played key roles with highly successful technology concerns, Ron is a highly sought director candidate, and we are very pleased to welcome him to our board," said Charles Marston, Chairman and CEO of Calypso Technology, Inc. "Ron's financial guidance and strategic insight will be invaluable."
Mr. Codd previously served at PeopleSoft, Inc. as CFO, Senior Vice President of Finance and Administration, and Secretary of the company. During his 7-year tenure at PeopleSoft, the company grew its annual revenues from $15 million to $1.5 billion and its employment base from 75 to approximately 7,000, a 10,000% growth rate. Mr. Codd marshalled PeopleSoft's successful Initial Public Offering in 1992.
Following his tenure at PeopleSoft, Mr. Codd assumed the role of President, CEO and Secretary at spin-out software firm Momentum Business Applications, Inc. which was later repurchased by PeopleSoft. Including his tenure at PeopleSoft, Mr. Codd has over 23 years of financial and administrative experience with rapid-growth technology companies, including MIPS Computer Systems, Inc., Wyse Technology and Tandem Computers, Inc. Mr. Codd currently operates as an independent executive consultant for various high technology companies and is on the board of directors of four other software companies, two of which are publicly held.
"Calypso is strategically positioned and financially healthy. Its highly differentiated software products address the urgent needs of capital market firms today, and the company has an excellent opportunity for continued growth," said Mr. Codd. "I look forward to working with Calypso's management team to prepare Calypso for its next stage of growth as we continue to enhance shareholder value."
"Having played key roles with highly successful technology concerns, Ron is a highly sought director candidate, and we are very pleased to welcome him to our board," said Charles Marston, Chairman and CEO of Calypso Technology, Inc. "Ron's financial guidance and strategic insight will be invaluable."
Monday, March 14, 2005
Calypso Builds German Presence With New Appointment
San Francisco, 14 March 2005 – Calypso Technology, Inc., a leading provider of cross-asset front to back trading and trade processing software systems, today announced the appointment of Anoop Sonpar as Regional Sales Manager, Germany and Austria.
Based in Frankfurt, Sonpar will be responsible for driving sales of Calypso's leading-edge technology in the German and Austrian markets. Sonpar joins from Front Capital Systems, where he served as account manager and was also responsible for business development in Germany. Prior to joining Front, Sonpar spent over five years building Cognotec's German business.
"Calypso's best of breed cross-asset solutions are perfectly suited to the rapidly changing German banking landscape," said Sonpar. "I am confident that we will succeed in bringing a compelling message to the market and a number of German banks will recognise the benefits of Calypso's modern architecture to power their franchises. I am convinced that our leadership position and domain expertise in derivatives, particularly credit, will make us the partner of choice in Germany."
Kishore Bopardikar, President of Calypso Technology, Inc. stated: "The appointment of Anoop Sonpar to spearhead sales and business development in the region will allow us to grow our existing customer base in Germany. Anoop's strong track record of business development in the region as well as his experience in senior relationship management for financial software providers is an important asset for Calypso. It is also a further sign of our commitment to the German market.
Based in Frankfurt, Sonpar will be responsible for driving sales of Calypso's leading-edge technology in the German and Austrian markets. Sonpar joins from Front Capital Systems, where he served as account manager and was also responsible for business development in Germany. Prior to joining Front, Sonpar spent over five years building Cognotec's German business.
"Calypso's best of breed cross-asset solutions are perfectly suited to the rapidly changing German banking landscape," said Sonpar. "I am confident that we will succeed in bringing a compelling message to the market and a number of German banks will recognise the benefits of Calypso's modern architecture to power their franchises. I am convinced that our leadership position and domain expertise in derivatives, particularly credit, will make us the partner of choice in Germany."
Kishore Bopardikar, President of Calypso Technology, Inc. stated: "The appointment of Anoop Sonpar to spearhead sales and business development in the region will allow us to grow our existing customer base in Germany. Anoop's strong track record of business development in the region as well as his experience in senior relationship management for financial software providers is an important asset for Calypso. It is also a further sign of our commitment to the German market.
Tuesday, February 15, 2005
Calypso Announces New Risk Aggregation Module
San Francisco, 15 February 2005 – Calypso Technology, Inc. a leading provider of cross-asset front to back trading and trade processing systems, today announced the availability of the Calypso Risk Aggregator software module, which provides a consolidated view of risk exposure from multiple business areas.
Calypso Risk Aggregator provides a single view of exposure to risk, such as credit risk, interest rate risk and FX risk, from trading in all systems. It also takes input from in-house systems and third-party systems across multiple trading desks. Users can define various strategies for aggregating risk based on any attribute ( for example, cumulative aggregation based on credit ratings ) and can select from multiple views of data. Risk data can be manipulated into user defined reports for viewing risk measures as needed by end users.
Risk Aggregator is also fully integrated with Calypso’s real-time scenario analysis engine to enable complex stress testing. Together with Calypso’s existing front to back solution, Calypso Risk Aggregator will serve as part of a comprehensive trading and risk system with broad instrument coverage from all asset classes.
Charles Marston, Chairman and CEO of Calypso Technology, Inc., commented: “The launch of Calypso Risk Aggregator strengthens our risk offering and provides a software solution that can be extended beyond existing users at Calypso’s clients. By facilitating a consolidated view of risk, we can provide an environment in which users can accurately manage their risk across multiple business areas.”
Calypso Risk Aggregator provides a single view of exposure to risk, such as credit risk, interest rate risk and FX risk, from trading in all systems. It also takes input from in-house systems and third-party systems across multiple trading desks. Users can define various strategies for aggregating risk based on any attribute ( for example, cumulative aggregation based on credit ratings ) and can select from multiple views of data. Risk data can be manipulated into user defined reports for viewing risk measures as needed by end users.
Risk Aggregator is also fully integrated with Calypso’s real-time scenario analysis engine to enable complex stress testing. Together with Calypso’s existing front to back solution, Calypso Risk Aggregator will serve as part of a comprehensive trading and risk system with broad instrument coverage from all asset classes.
Charles Marston, Chairman and CEO of Calypso Technology, Inc., commented: “The launch of Calypso Risk Aggregator strengthens our risk offering and provides a software solution that can be extended beyond existing users at Calypso’s clients. By facilitating a consolidated view of risk, we can provide an environment in which users can accurately manage their risk across multiple business areas.”
Monday, February 7, 2005
Calypso and NumeriX Partner to Bring Advanced Analytics to Structuring Desks and Hedge Funds
San Francisco and London, 07 February 2005 – Calypso Technology, Inc. a leading provider of cross-asset front-to-back trading and trade processing systems, and NumeriX LLC, the leading player in multi-platform, cross-asset derivatives pricing and risk management software, have announced a strategic partnership that will see the companies offer NumeriX analytics embedded within the Calypso Structured Products solution.
The partnership provides traders who are using Calypso to build and customise structured hybrid instruments with the availability of NumeriX advanced pricing and analytics as an integral part of the system. The combined solution provides Calypso users with a vastly expanded number of pricing models, as well as the benefits of a single, integrated trading system.
"We see NumeriX as a market leader and key innovator in this field and opted to partner with them in order to bring their competitive edge to our client base," comments Charles Marston, CEO of Calypso Technology, Inc. "Calypso’s capabilities in structured products allow users to reap the benefits of the opportunities that lie in this market. By integrating NumeriX’s pricing analytics into Calypso, we can offer our customers the opportunity to use market vetted analytics as part of our complete solution."
"The demand in the market for larger returns means that increasingly complex structured instruments are becoming mainstream," said Steve O’Hanlon, president and COO of NumeriX LLC. "By combining our expertise in pricing complex derivatives with Calypso’s market-leading capabilities in processing structured instruments, we are speeding up the pricing process and helping users maximise profit opportunities by advanced market modelling and analysis."
The Calypso/NumeriX partnership includes technical integration as well as joint sales and marketing support.
The partnership provides traders who are using Calypso to build and customise structured hybrid instruments with the availability of NumeriX advanced pricing and analytics as an integral part of the system. The combined solution provides Calypso users with a vastly expanded number of pricing models, as well as the benefits of a single, integrated trading system.
"We see NumeriX as a market leader and key innovator in this field and opted to partner with them in order to bring their competitive edge to our client base," comments Charles Marston, CEO of Calypso Technology, Inc. "Calypso’s capabilities in structured products allow users to reap the benefits of the opportunities that lie in this market. By integrating NumeriX’s pricing analytics into Calypso, we can offer our customers the opportunity to use market vetted analytics as part of our complete solution."
"The demand in the market for larger returns means that increasingly complex structured instruments are becoming mainstream," said Steve O’Hanlon, president and COO of NumeriX LLC. "By combining our expertise in pricing complex derivatives with Calypso’s market-leading capabilities in processing structured instruments, we are speeding up the pricing process and helping users maximise profit opportunities by advanced market modelling and analysis."
The Calypso/NumeriX partnership includes technical integration as well as joint sales and marketing support.
Thursday, January 13, 2005
Calypso Recognized Again as Most Popular Credit Derivatives Solution
San Francisco, 13 January 2005 – Other independent analysts and publications ranking Calypso as the top credit derivatives vendor system in the past year include Celent Communications and Risk Magazine.
Calypso Technology , Inc. a leading software provider of cross-asset front to back trading and trade processing systems, announced today that a recent Creditflux survey of 31 leading banks revealed Calypso software to be the most popular vendor solution for their credit derivatives businesses.
Creditflux questioned representatives of 31 banks about their technology infrastructure for credit derivatives. Respondents included global banks as well as Tier 2 European and North American firms.
Other independent analysts and publications ranking Calypso as the top credit derivatives vendor system in the past year include Celent Communications and Risk Magazine.
Read the full Creditflux article (PDF).
Calypso Technology , Inc. a leading software provider of cross-asset front to back trading and trade processing systems, announced today that a recent Creditflux survey of 31 leading banks revealed Calypso software to be the most popular vendor solution for their credit derivatives businesses.
Creditflux questioned representatives of 31 banks about their technology infrastructure for credit derivatives. Respondents included global banks as well as Tier 2 European and North American firms.
Other independent analysts and publications ranking Calypso as the top credit derivatives vendor system in the past year include Celent Communications and Risk Magazine.
Read the full Creditflux article (PDF).
Friday, December 17, 2004
Calypso Ranked Best Front to Back System for Credit
San Francisco, 17 December 2004 – Calypso Technology , Inc. a leading provider of cross-asset front to back trading and trade processing systems, announces that it has been ranked the best front to back system for credit derivatives in Risk magazine’s inaugural Technology Rankings.
Readers of Risk magazine participated in an online survey of technology vendors and nominated systems they were either using or were familiar with. Calypso also scored highly in the trading systems – credit category.
Additionally, Calypso has been included in the first annual FinTech 100 compiled by the American Banker and Financial Insights. The ranking of technology companies was based on revenue generated by the financial services industry.
“ The Risk ranking demonstrates Calypso’s ongoing success in the rapidly expanding credit derivatives market and further cements Calypso’s position as the market-leading vendor solution for automating credit derivatives trading and processing, ” said Charles Marston, CEO of Calypso Technology, Inc. “We are also thrilled to have been included in the FinTech 100 ranking. This highlights the strength of our organisation and we look forward to improving on this in the future.”
Readers of Risk magazine participated in an online survey of technology vendors and nominated systems they were either using or were familiar with. Calypso also scored highly in the trading systems – credit category.
Additionally, Calypso has been included in the first annual FinTech 100 compiled by the American Banker and Financial Insights. The ranking of technology companies was based on revenue generated by the financial services industry.
“ The Risk ranking demonstrates Calypso’s ongoing success in the rapidly expanding credit derivatives market and further cements Calypso’s position as the market-leading vendor solution for automating credit derivatives trading and processing, ” said Charles Marston, CEO of Calypso Technology, Inc. “We are also thrilled to have been included in the FinTech 100 ranking. This highlights the strength of our organisation and we look forward to improving on this in the future.”
Tuesday, December 14, 2004
Hedge Fund Company FrontPoint Partners Signs with Calypso
San Francisco, 14 December 2004 – Calypso Technology, a leading provider of cross-asset front to back trading and trade processing systems, announced today that FrontPoint Partners LLC, a $4 billion integrated investment management company, has selected Calypso as a trading system for its business.
FrontPoint will use Calypso for various fixed income and credit-related trading strategies. Along with the core trading capabilities, the Calypso product will be integrated with FrontPoint's administrators and prime brokers as well as order management and existing risk management systems.
Breadth of product coverage and a strong working relationship with Calypso were key to FrontPoint's selection.
"Our investment strategies cover products areas such as derivatives, which are not adequately addressed by technology catering to the buy-side. We wanted to work with a firm that understood the market and our needs, and had the right product functionality that would support our growth," said John Hagarty, CIO of FrontPoint. "We selected Calypso as we saw them as a partner, not a vendor."
The win at FrontPoint comes on the back of other recent wins for Calypso in the hedge fund industry and the company expects to see more growth in this area.
"The hedge fund industry is in a time of change. Recent growth in capital inflows, competitive pressures and new investment strategies have made firms revisit their existing infrastructure. Calypso's integrated solution is well positioned to service them and we are looking forward to meeting the needs of our growing customer base in this market," said Charles Marston, CEO of Calypso.
FrontPoint will use Calypso for various fixed income and credit-related trading strategies. Along with the core trading capabilities, the Calypso product will be integrated with FrontPoint's administrators and prime brokers as well as order management and existing risk management systems.
Breadth of product coverage and a strong working relationship with Calypso were key to FrontPoint's selection.
"Our investment strategies cover products areas such as derivatives, which are not adequately addressed by technology catering to the buy-side. We wanted to work with a firm that understood the market and our needs, and had the right product functionality that would support our growth," said John Hagarty, CIO of FrontPoint. "We selected Calypso as we saw them as a partner, not a vendor."
The win at FrontPoint comes on the back of other recent wins for Calypso in the hedge fund industry and the company expects to see more growth in this area.
"The hedge fund industry is in a time of change. Recent growth in capital inflows, competitive pressures and new investment strategies have made firms revisit their existing infrastructure. Calypso's integrated solution is well positioned to service them and we are looking forward to meeting the needs of our growing customer base in this market," said Charles Marston, CEO of Calypso.
Thursday, November 25, 2004
Calypso Expands Globally with Several Key Appointments
San Francisco, 25 November 2004 – Calypso Technology , a leading provider of cross-asset front to back trading and trade processing systems, announced today that it has made numerous appointments globally due to increased client demand and significant growth in 2004.
“We’ve experienced dynamic growth across all regions this year, having signed clients such as, SunTrust Bank, M. Safra, NewSmith Capital and LCH Clearnet. The expansion of our support team has been instrumental in helping to deliver successful implementations for existing clients, including Citigroup and Sumitomo Trust & Banking,” said Charles Marston, CEO of Calypso Technology. “The recent appointments are key to Calypso’s growth and we will continue to build on our in-house expertise with more strategic appointments going forward.”
Overall, headcount increased by 46% throughout 2004 and Calypso has recently made several key appointments in the US , Europe and Asia Pacific:
“We’ve experienced dynamic growth across all regions this year, having signed clients such as, SunTrust Bank, M. Safra, NewSmith Capital and LCH Clearnet. The expansion of our support team has been instrumental in helping to deliver successful implementations for existing clients, including Citigroup and Sumitomo Trust & Banking,” said Charles Marston, CEO of Calypso Technology. “The recent appointments are key to Calypso’s growth and we will continue to build on our in-house expertise with more strategic appointments going forward.”
Overall, headcount increased by 46% throughout 2004 and Calypso has recently made several key appointments in the US , Europe and Asia Pacific:
- In addition to increasing client support with several appointments, Calypso has expanded its sales team in the US with the hire of Larry Cenci as Senior Sales Executive in New York . Larry joins from ADP, where he served as global account manager. As Senior Sales Executive, Larry will drive sales in the region. Larry was president of Leading Edge Technologies, prior to its acquisition by ADP, and brings over 20 years of experience with fixed income capital markets systems to Calypso.
- Calypso has also increased its presence in Asia Pacific, with the appointment of Sean McDermott as a Tokyo-based sales executive for the region as well as making new hires in the support team. Sean joins from Wall Street Systems, where he served as Country Manager for Japan and has been brought on board to accommodate increased customer demand in Asia .
- In Europe , Naoko Fader brings 11 years of experience of financial markets to Calypso’s European sales team and a strong background in fixed income and credit. Naoko joins from Iris Financial.
- Robert Finnell has been appointed as a General Counsel in Calypso’s San Francisco headquarters. Robert brings over 19 years of experience as inside legal counsel to rapidly growing private and publicly-held technology companies and was formerly Vice President, General Counsel, and Assistant Secretary of PeopleSoft, Inc.
Wednesday, November 10, 2004
Industry Survey Finds System Upgrades Necessary to Support Credit Derivatives Growths
San Francisco, 10 November, 2004 – Calypso Technology , a leading provider of cross-asset front to back trading solutions for the capital markets industry, today announced the results of a survey of the global credit derivatives markets. According to the survey most leading organisations believe their current technical infrastructure will not support the growth in their credit derivatives business over the next five years.
The study, which canvassed over 100 risk managers, traders, operations and IT staff at financial institutions globally, discovered widespread anxiety over the scalability of current systems. Respondents defined improved product coverage and risk reporting as key areas in the need for improving credit derivatives infrastructure. Some of the key findings are as follows:
The study, which canvassed over 100 risk managers, traders, operations and IT staff at financial institutions globally, discovered widespread anxiety over the scalability of current systems. Respondents defined improved product coverage and risk reporting as key areas in the need for improving credit derivatives infrastructure. Some of the key findings are as follows:
- Many firms are preparing for business growth: 58% said their organisation was in the process of upgrading their infrastructure with a further 13.5% planning to upgrade in the next one or two years. Only 10.8% had no definite plans to upgrade their technology.
- Key drivers cited for investment in credit derivatives technical infrastructure were making improvements to product coverage, risk management and upgrading technology.
- When questioned about the capability of their current infrastructure to handle the necessary innovation in credit derivatives trading, only 20% were satisfied with how quickly new structures could be added, while 46% were dissatisfied with the ability for integrated cross-product trading.
- 90% of respondents placed importance on real-time risk analysis in a credit derivatives infrastructure. Hedge recommendations and direct links to reference entity data were also considered to be very important in a credit derivatives infrastructure, while matching between sales and traders also featured high on the list.
- In response to questions about credit events, only 21.9% of respondents’ organisations were able to track all trades either on demand or immediately. Using several disparate systems to track credit exposure was considered by 88% to impact on their firm’s ability to effectively process a credit event, with 65% of respondents considering this impact to be either medium or high.
“This survey highlights the importance of a holistic approach to credit derivatives systems. For any significant player in the market, the requirements of the technical infrastructure across all dimensions are considerable. These range from performance and scalability, to product coverage across a dynamic and structurally innovative landscape, standards compliance, post-trade processing and automation, and credit event management,” comments Mas Nakachi, Senior Analyst at Calypso Technology. “The challenge of managing all of these dimensions in an integrated fashion has created a need for the next-generation of credit derivatives systems .”
The credit derivatives business is expected to enjoy continued growth over the next year. As expected, the largest growth in volumes looks likely to occur in single name CDS with 82% of respondents predicting an increase. Over half of the participants also predicted growth in more complex credit derivatives structures, including synthetic CDOs.
The survey was conducted in conjunction with Risk magazine.
Wednesday, October 13, 2004
Sumitomo Trust & Banking Live on Calypso's FX Solution
San Francisco, 13 October, 2004 – Calypso Technology announced today that Sumitomo Trust & Banking ( STB ) has gone live with Calypso’s front-to-back FX solution. The implementation enables STB to enhance its IT infrastructure for its FX business and improve customer service and processing efficiencies.
STB explored several options to satisfy its FX business strategy, provide more effective customer service , and improve operational efficiency . Calypso was selected as it was a single system providing complete STP through settlement, which would allow STB to improve the efficiency of its FX processing . To help STB achieve its service goals , the system now has various features including trust FX, bulk entry of trades, rollover and allocation of trades, and margin control and limit management. To ensure that the system met Japanese market requirements, Calypso partnered with STB to complete support for Japanese market requirements.
A spokesperson for Sumitomo Trust & Banking, says: “Calypso has supplied us with a single platform for both interbank and customer FX trading, with supporting functionalities for both the front office and back office. We have now enhanced the infrastructure of our FX business with an automated system, built on modern technology, and have an opportunity to improve the efficiency of the FX business. This is our first step using the Calypso system to enhance our business infrastructure, and we are expecting further improvements to meet our business strategy goals and to provide better service to our clients.”
“In a market where margins have become very tight, banks need to be able to provide end to end connectivity for its customers to offer better customer service. They need to connect to liquidity providers, portals and banks. This is achieved by providing banks with a single platform to support the connectivity. In addition it reduces their need to use many systems which increases the potential for operational risk and higher maintenance costs. We have built a robust platform for the entire FX process which leverages all Calypso’s technology benefits,” said Charles Marston, CEO of Calypso Technology.
STB explored several options to satisfy its FX business strategy, provide more effective customer service , and improve operational efficiency . Calypso was selected as it was a single system providing complete STP through settlement, which would allow STB to improve the efficiency of its FX processing . To help STB achieve its service goals , the system now has various features including trust FX, bulk entry of trades, rollover and allocation of trades, and margin control and limit management. To ensure that the system met Japanese market requirements, Calypso partnered with STB to complete support for Japanese market requirements.
A spokesperson for Sumitomo Trust & Banking, says: “Calypso has supplied us with a single platform for both interbank and customer FX trading, with supporting functionalities for both the front office and back office. We have now enhanced the infrastructure of our FX business with an automated system, built on modern technology, and have an opportunity to improve the efficiency of the FX business. This is our first step using the Calypso system to enhance our business infrastructure, and we are expecting further improvements to meet our business strategy goals and to provide better service to our clients.”
“In a market where margins have become very tight, banks need to be able to provide end to end connectivity for its customers to offer better customer service. They need to connect to liquidity providers, portals and banks. This is achieved by providing banks with a single platform to support the connectivity. In addition it reduces their need to use many systems which increases the potential for operational risk and higher maintenance costs. We have built a robust platform for the entire FX process which leverages all Calypso’s technology benefits,” said Charles Marston, CEO of Calypso Technology.
Tuesday, October 12, 2004
Rand Merchant Bank Goes Live on Calypso
Atlanta, 12 October 2004 – Calypso Technology announced today that South Africa’s Rand Merchant Bank (RMB) has gone live on the Calypso system for payments. The bank has licensed the Calypso system for cross asset coverage and is in the process of implementing the system for other product groups.
RMB sees Calypso as the right technology platform for the bank to support future business growth.
"Calypso fits well into the RMB technical architecture. Written in Java and designed for flexibility and customization it gives us a solid financial framework to work from,” said John Murray – RMB Technical Architect.
“The implementation of Calypso provides us with better control and enhanced efficiency, allowing us to support our current and future business needs in a cost effective manner,” added Wendy Donaldson – RMB, Treasury Operations.
RMB is Calypso’s first client in South Africa.
“RMB is well known for innovation in South Africa, which makes them an ideal partner for us to work with. We are looking forward to building our relationship further with them,” said Charles Marston, CEO of Calypso.
About Rand Merchant Bank
Rand Merchant Bank (RMB) is the investment banking arm of FirstRand, one of South Africa’s largest, publicly quoted financial services groups. RMB is a full-service investment bank with offices in South Africa, Ireland, the United Kingdom, Mauritius and Australia. RMB has enjoyed uninterrupted profit growth since its formation in 1977. Independent surveys consistently rank it first in corporate finance, structured finance, private equity and as the leading debt house in South Africa.
RMB sees Calypso as the right technology platform for the bank to support future business growth.
"Calypso fits well into the RMB technical architecture. Written in Java and designed for flexibility and customization it gives us a solid financial framework to work from,” said John Murray – RMB Technical Architect.
“The implementation of Calypso provides us with better control and enhanced efficiency, allowing us to support our current and future business needs in a cost effective manner,” added Wendy Donaldson – RMB, Treasury Operations.
RMB is Calypso’s first client in South Africa.
“RMB is well known for innovation in South Africa, which makes them an ideal partner for us to work with. We are looking forward to building our relationship further with them,” said Charles Marston, CEO of Calypso.
About Rand Merchant Bank
Rand Merchant Bank (RMB) is the investment banking arm of FirstRand, one of South Africa’s largest, publicly quoted financial services groups. RMB is a full-service investment bank with offices in South Africa, Ireland, the United Kingdom, Mauritius and Australia. RMB has enjoyed uninterrupted profit growth since its formation in 1977. Independent surveys consistently rank it first in corporate finance, structured finance, private equity and as the leading debt house in South Africa.
Monday, October 11, 2004
Calypso Launches Enhanced FX Module to Provide Complete Automation from Client to Settlement
San Francisco, 11 October 2004 – Calypso Technology announces today that it has launched an enhanced version of its foreign exchange (FX) module. Calypso’s FX system provides complete and seamless automation between bank customers, sales and trading desks, and the institution’s back office. The system is built to increase a bank’s profitability by providing effective sales management tools while lowering trading costs and reducing operational risk.
“With e-commerce initiatives driving down spreads in FX markets, banks are faced with the challenge of maintaining strong customer relationships to drive their business growth, while having to drastically reduce costs in their operations,” says Charles Marston, CEO of Calypso.
Calypso’s FX solution is a single system supporting client management, sales, multichannel pricing and deal capture, interbank trading and back office capabilities. A new web based client interface, WebFX, allows clients to enter trades via the internet. The system also provides connectivity to EBS, Reuters 3000, portals such as FX Connect, and liquidity providers. Other added features include customer service tools such as bulk entry and pricing of client trades and trade allocations.
Volume growth is supported downstream by Calypso’s award winning back office. The highly scalable back office, in use at banks such as HSBC and Dresdner, is completely integrated with the sales and trading capabilities of the system. The solution supports numerous messaging standards and actively assists in reducing operational risk with its exception based workflow processing. The Calypso system ensures that as business grows, banks will have a modern robust platform to execute the volume of trades.
Marston comments, “Innovation in the FX markets has come in the form of distribution. Banks can drive more sales through the e-commerce channels now available. While multibank portals have specialized in client distribution and traditional vendors have focused on interbank trading, Calypso’s approach is to streamline the entire process, by which crucial costs can be removed. We have looked at the FX business holistically and designed our system for automation with corresponding scalability.”
The FX module enables FX and FX options to be traded in a single system and is part of Calypso’s total, multi-asset solution, which consolidates all treasury, derivatives and securities products on a single technology platform.
“With e-commerce initiatives driving down spreads in FX markets, banks are faced with the challenge of maintaining strong customer relationships to drive their business growth, while having to drastically reduce costs in their operations,” says Charles Marston, CEO of Calypso.
Calypso’s FX solution is a single system supporting client management, sales, multichannel pricing and deal capture, interbank trading and back office capabilities. A new web based client interface, WebFX, allows clients to enter trades via the internet. The system also provides connectivity to EBS, Reuters 3000, portals such as FX Connect, and liquidity providers. Other added features include customer service tools such as bulk entry and pricing of client trades and trade allocations.
Volume growth is supported downstream by Calypso’s award winning back office. The highly scalable back office, in use at banks such as HSBC and Dresdner, is completely integrated with the sales and trading capabilities of the system. The solution supports numerous messaging standards and actively assists in reducing operational risk with its exception based workflow processing. The Calypso system ensures that as business grows, banks will have a modern robust platform to execute the volume of trades.
Marston comments, “Innovation in the FX markets has come in the form of distribution. Banks can drive more sales through the e-commerce channels now available. While multibank portals have specialized in client distribution and traditional vendors have focused on interbank trading, Calypso’s approach is to streamline the entire process, by which crucial costs can be removed. We have looked at the FX business holistically and designed our system for automation with corresponding scalability.”
The FX module enables FX and FX options to be traded in a single system and is part of Calypso’s total, multi-asset solution, which consolidates all treasury, derivatives and securities products on a single technology platform.
Thursday, September 30, 2004
TD Securities Picks Calypso for Credit Derivatives
San Francisco, 30 September 2004 – Calypso Technology announced today that TD Securities, part of the TD Bank Financial Group, has selected Calypso as its global platform for credit derivatives trading and operations.
The solution will be rolled out to support trading activities in London, Toronto and New York as well as all risk and back office processing.
About TD Bank Financial Group
Headquartered in Toronto, Canada, with more than 51,000 employees in offices around the world, The TD Bank Financial Group (TDBFG), offers a full range of financial instruments and services to approximately 13 million customers worldwide. TD Bank Financial Group had more than CDN$274 billion in assets. TD Bank Financial Group ranks as one of the top on-line financial services providers in the world with more than 4.5 million on-line customers. The TD Bank Financial Group (TDBFG) trades on the Toronto and New York stock exchanges under the symbol "TD".
The solution will be rolled out to support trading activities in London, Toronto and New York as well as all risk and back office processing.
About TD Bank Financial Group
Headquartered in Toronto, Canada, with more than 51,000 employees in offices around the world, The TD Bank Financial Group (TDBFG), offers a full range of financial instruments and services to approximately 13 million customers worldwide. TD Bank Financial Group had more than CDN$274 billion in assets. TD Bank Financial Group ranks as one of the top on-line financial services providers in the world with more than 4.5 million on-line customers. The TD Bank Financial Group (TDBFG) trades on the Toronto and New York stock exchanges under the symbol "TD".
Monday, September 6, 2004
NewSmith Capital Partners Selects Calypso
San Francisco, 06 September 2004 – Calypso Technology announced today that NewSmith Capital Partners, a London based Hedge Fund Company, has selected the Calypso system for supporting their Credit and Fixed Income Operations.
NewSmith has licensed the Calypso system for cross asset coverage and is in the process of implementing the system for its Credit and Fixed Income funds. Nick Senn at NewSmith Capital says; "We conducted extensive research before choosing Calypso. Calypso clearly stood out as the market leader for Credit Derivatives and we feel comfortable that Calypso will provide us with a cutting edge technology - which will allow us to better service our clients."
NewSmith joins a growing number of hedge funds that will be using Calypso as their trading platform.
NewSmith has licensed the Calypso system for cross asset coverage and is in the process of implementing the system for its Credit and Fixed Income funds. Nick Senn at NewSmith Capital says; "We conducted extensive research before choosing Calypso. Calypso clearly stood out as the market leader for Credit Derivatives and we feel comfortable that Calypso will provide us with a cutting edge technology - which will allow us to better service our clients."
NewSmith joins a growing number of hedge funds that will be using Calypso as their trading platform.
Wachovia Expands Calypso use to Energy Derivatives
San Francisco, 06 September 2004 – Wachovia Corporation will be expanding their use of Calypso to include Energy Derivatives. This is the fourth asset group that Wachovia will be trading on Calypso. The bank is currently live on Calypso for credit derivatives, interest rate derivatives and foreign exchange options.
Wednesday, September 1, 2004
Citigroup Goes Live with Calypso for Credit Derivatives Technology
San Francisco, 01 September 2004 – Calypso Technology announced today that Citigroup is now live on Calypso's front office for credit derivatives trading. Calypso will support the bank's global credit derivatives business as it increases in volume and complexity.
The key goals of the new implementation are to provide increased controls, straight through processing, and on demand risk to the business and support the bank's growing volumes and new product innovations. With Calypso, Citigroup will be able to significantly enhance time to market for new credit products, scale its credit derivatives business and get faster risk results globally. The single front office system covers trade capture, pricing and risk, while providing real-time scenario analysis and P&L information across the business.
The key goals of the new implementation are to provide increased controls, straight through processing, and on demand risk to the business and support the bank's growing volumes and new product innovations. With Calypso, Citigroup will be able to significantly enhance time to market for new credit products, scale its credit derivatives business and get faster risk results globally. The single front office system covers trade capture, pricing and risk, while providing real-time scenario analysis and P&L information across the business.
Thursday, August 19, 2004
Calypso Selected by Suntrust for Derivatives Trading
San Francisco, 19 August 2004 – Calypso Technology announced today that Suntrust Bank has selected Calypso for interest rate and credit derivatives trading. The Calypso system will support the derivatives products in the front-middle- and back-offices.
About SunTrust
SunTrust Banks Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking operations. As of June 30, 2004, SunTrust had total assets of $128.1 billion and total deposits of $85.5 billion. The company operates through an extensive distribution network primarily in Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia and also serves customers in selected markets nationally. Its primary business include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance , brokerage and capital markets services. Visit SunTrust at http://www.suntrust.com/.
About SunTrust
SunTrust Banks Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking operations. As of June 30, 2004, SunTrust had total assets of $128.1 billion and total deposits of $85.5 billion. The company operates through an extensive distribution network primarily in Florida, Georgia, Maryland, Tennessee, Virginia, and the District of Columbia and also serves customers in selected markets nationally. Its primary business include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance , brokerage and capital markets services. Visit SunTrust at http://www.suntrust.com/.
Monday, July 19, 2004
LCH. Clearnet to Use Calypso
San Francisco, 19 July 2004 – Calypso Technology announced today that the Calypso system has been selected by LCH. Clearnet to handle a risk management process for its SwapClear service.
About LCH Clearnet
LCH. Clearnet is the leading independent CCP group in Europe, serving major international exchanges and platforms, equity markets, exchange-traded derivatives markets, energy markets, the interbank interest rate swaps market and the majority of the Euro-denominated and sterling bond and repo markets. It aims to serve as a catalyst for further CCP consolidation in Europe.
With a major global reach, the corporate vision for LCH. Clearnet is to become the partner of choice for CCPs and international markets around the world.
About LCH Clearnet
LCH. Clearnet is the leading independent CCP group in Europe, serving major international exchanges and platforms, equity markets, exchange-traded derivatives markets, energy markets, the interbank interest rate swaps market and the majority of the Euro-denominated and sterling bond and repo markets. It aims to serve as a catalyst for further CCP consolidation in Europe.
With a major global reach, the corporate vision for LCH. Clearnet is to become the partner of choice for CCPs and international markets around the world.
Monday, July 5, 2004
Calypso Becomes First Trading System to Integrate Mark-It RED
San Francisco, 05 July 2004 – Mark-it Partners Ltd. ("Mark-it"), the world’s first integrated daily pricing service for global credit derivatives, cash credit instruments and syndicated loan pricing, today announced that Calypso has integrated Mark-it RED data into its core technology. The aim of the partnership is to provide financial institutions with greater automation in the trading of credit derivatives and reduce risk by lowering the number of failed trades from inconsistent data.
Calypso is a leading provider of credit derivatives trading and risk management technology to the world’s largest financial institutions. The integration allows data from RED, which has been adopted as the market standard for reference data in the credit markets, to be incorporated directly into Calypso’s system, giving users the ability to place trades using the standardized reference entities and reference obligations.
Mas Nakachi, Senior Business Analyst at Calypso, said, ”Having access to accurate reference entity data is a major challenge in the credit derivatives markets today. Mark-it RED is invaluable in providing the transparency and consistency that firms require to conduct their business accurately and efficiently. This integration is an important enhancement for Calypso and our mutual clients will gain tremendously from this joint initiative.”
Penny Davenport, Director of Mark-it RED, said, “We are able to leverage Calypso’s strong technology framework to incorporate RED so that trading desks can benefit greatly from the direct access to Mark-it’s standardized reference entity and reference obligation data. Firms are looking for seamless, integrated solutions for their credit trading businesses and the partnership between Calypso and RED provides exactly that.”
Calypso is a leading provider of credit derivatives trading and risk management technology to the world’s largest financial institutions. The integration allows data from RED, which has been adopted as the market standard for reference data in the credit markets, to be incorporated directly into Calypso’s system, giving users the ability to place trades using the standardized reference entities and reference obligations.
Mas Nakachi, Senior Business Analyst at Calypso, said, ”Having access to accurate reference entity data is a major challenge in the credit derivatives markets today. Mark-it RED is invaluable in providing the transparency and consistency that firms require to conduct their business accurately and efficiently. This integration is an important enhancement for Calypso and our mutual clients will gain tremendously from this joint initiative.”
Penny Davenport, Director of Mark-it RED, said, “We are able to leverage Calypso’s strong technology framework to incorporate RED so that trading desks can benefit greatly from the direct access to Mark-it’s standardized reference entity and reference obligation data. Firms are looking for seamless, integrated solutions for their credit trading businesses and the partnership between Calypso and RED provides exactly that.”
Thursday, June 10, 2004
Calypso Wins The Banker Technology Award for Second Consecutive Year
San Francisco, 10 June 2004 – Calypso Technology announced today that it has been awarded the 2004 Banker Technology Award for Back Office Application of the Year. The Banker, a publication of the Financial Times Business Group, launched its annual technology awards in 2003, to recognize technology vendors in the financial markets. This is the second consecutive year that Calypso has won this award.
“Calypso’s back office application continues to set the standard for systems, both in terms of technology and functionality. Calypso’s clients are able to realize real gains from the system, which was key in our consideration of all the candidates. Calypso takes a fresh approach to the challenges faced by operations teams and continues to enhance its application to eliminate the users pain points. Calypso is only one of two repeat winners of our technology awards and we commend them highly for this achievement,” said Parveen Bansal, Technology Editor for The Banker.
“With the innovation in the financial markets today, operational infrastructure has become more strategic in nature. Leading banks cannot afford to have their back office systems restrict their ability to grow the business. In addition to providing cost efficiencies, a back office must be scalable and flexible. We built Calypso’s back office application to serve as a platform for growth for our clients, and are very pleased to be recognized for our efforts” said Charles Marston, CEO of Calypso Technology.
About The Financial Times Business Group
Financial Times Business is part of the Financial Times and Pearson Plc. Established in 1926, The Banker provides global financial intelligence to the international banking and finance community. Published monthly, each issue delivers news and opinion on the latest developments in both the retail and investment banking sectors. With regular software and technology updates, new product innovations, country profiles and expert market commentary from leading industry figures, The Banker is essential reading for all banking and finance professionals.
“Calypso’s back office application continues to set the standard for systems, both in terms of technology and functionality. Calypso’s clients are able to realize real gains from the system, which was key in our consideration of all the candidates. Calypso takes a fresh approach to the challenges faced by operations teams and continues to enhance its application to eliminate the users pain points. Calypso is only one of two repeat winners of our technology awards and we commend them highly for this achievement,” said Parveen Bansal, Technology Editor for The Banker.
“With the innovation in the financial markets today, operational infrastructure has become more strategic in nature. Leading banks cannot afford to have their back office systems restrict their ability to grow the business. In addition to providing cost efficiencies, a back office must be scalable and flexible. We built Calypso’s back office application to serve as a platform for growth for our clients, and are very pleased to be recognized for our efforts” said Charles Marston, CEO of Calypso Technology.
About The Financial Times Business Group
Financial Times Business is part of the Financial Times and Pearson Plc. Established in 1926, The Banker provides global financial intelligence to the international banking and finance community. Published monthly, each issue delivers news and opinion on the latest developments in both the retail and investment banking sectors. With regular software and technology updates, new product innovations, country profiles and expert market commentary from leading industry figures, The Banker is essential reading for all banking and finance professionals.
Friday, June 4, 2004
Calypso Launches Enhanced Credit Derivatives Trading Solution
San Francisco, 04 June 2004 – Calypso Technology announced today that it has launched Calypso 7.0 with increased functionality for credit derivatives trading. Calypso 7.0 enables banks to manage increasing volumes and innovation in the credit derivatives market by empowering them to make effective decisions, manage risk and understand exposure in real-time.
Calypso’s technology provides an integrated view of pricing and risk and allows banks to increase credit derivative trading volumes and monitor positions. Calypso 7.0 can be scaled to manage the significant volume of market data unique to trading credit instruments and supports the complexity of structuring and trading hybrid products. Calypso’s front-to-back platform enables straight through processing (STP) of trades and better management of workflow between traders, sales and the back office. The integration of credit derivatives functionality with Calypso’s leading cross-asset platform allows traders to hedge credit derivatives against other instruments, such as fixed income products.
Calypso 7.0 supports a range of credit derivatives products, including:
Calypso’s technology provides an integrated view of pricing and risk and allows banks to increase credit derivative trading volumes and monitor positions. Calypso 7.0 can be scaled to manage the significant volume of market data unique to trading credit instruments and supports the complexity of structuring and trading hybrid products. Calypso’s front-to-back platform enables straight through processing (STP) of trades and better management of workflow between traders, sales and the back office. The integration of credit derivatives functionality with Calypso’s leading cross-asset platform allows traders to hedge credit derivatives against other instruments, such as fixed income products.
Calypso 7.0 supports a range of credit derivatives products, including:
- Hybrids
- Index and Basket Trades (including Tranched Index Products) - Traders can capture a trade and calculate exposure to the continually changing basket of underlying names.
- Resecuritisations – including CDO Squared.
- Synthetic, Managed and Static CDOs
- Swaps – including Single Name Credit Default Swaps, ‘Nth’ Default Swaps, Asset Swaps and Total Return Swaps.
“Fuelled by continuous innovation, credit derivatives are the most dynamic instruments in finance today and banks are seeing significant profitability in this area,” says Charles Marston , CEO, Calypso. “The market has grown so rapidly and to such volumes that existing systems have come under strain and market players are recognising the need for trading technology specifically designed to support these complex products. The credit derivatives market has seen significant growth over the past year alone and will only continue to accelerate. We are committed to providing out-of-the-box technology that is flexible enough to react to market changes and adapt to new trading instruments and are excited about the launch of Calypso v7.0.”
Additional system enhancements include integrated front office functionality to support FX trading and back office support for US fixed income products.
Monday, December 1, 2003
Wells Fargo Selects Calypso for Interest Rate Derivatives Business
San Francisco, 01 December 2003 – Calypso Technology announced today that Wells Fargo has selected the Calypso system for trading and processing of their interest rate derivatives business.
"We explored a variety of options for the new system, including vendor offerings and building a solution in-house. We found that Calypso had rich functionality that would serve our business needs well and give us a fast time to market," said Adrian Kayari, Head of Financial Products at Wells Fargo. "The ability to consolidate a significant number of stand alone applications into a single turn-key trading platform should improve our productivity, and enable us to take our business to the next level, both in terms of trade volume and sophistication."
Technology and support also played an important role in the system selection.
"Calypso has a strong technology platform that can handle special requirements well - for example, the ability to integrate our own analytics is a key benefit. We also evaluated the company's support processes carefully and feel confident that we will get support of a high quality from Calypso," added Kayari.
"We are excited about Wells Fargo joining us as a customer," said Charles Marston, CEO of Calypso. "They are well known for their focus on innovation in technology. Their selection of Calypso as the technology vendor for a key business validates our efforts in building the right system for the market."
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $391 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,900 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only "Aaa"-rated bank in the United States.
"We explored a variety of options for the new system, including vendor offerings and building a solution in-house. We found that Calypso had rich functionality that would serve our business needs well and give us a fast time to market," said Adrian Kayari, Head of Financial Products at Wells Fargo. "The ability to consolidate a significant number of stand alone applications into a single turn-key trading platform should improve our productivity, and enable us to take our business to the next level, both in terms of trade volume and sophistication."
Technology and support also played an important role in the system selection.
"Calypso has a strong technology platform that can handle special requirements well - for example, the ability to integrate our own analytics is a key benefit. We also evaluated the company's support processes carefully and feel confident that we will get support of a high quality from Calypso," added Kayari.
"We are excited about Wells Fargo joining us as a customer," said Charles Marston, CEO of Calypso. "They are well known for their focus on innovation in technology. Their selection of Calypso as the technology vendor for a key business validates our efforts in building the right system for the market."
About Wells Fargo
Wells Fargo & Company is a diversified financial services company with $391 billion in assets, providing banking, insurance, investments, mortgage and consumer finance from more than 5,900 stores and the Internet (wellsfargo.com) across North America and elsewhere internationally. Wells Fargo Bank, N.A. is the only "Aaa"-rated bank in the United States.
Wednesday, August 13, 2003
HSBC Extends Calypso Usage to Equity Derivatives
San Francisco, 13 August 2003 – Calypso Technology announced today that the HSBC Bank USA has extended its use of Calypso to equity derivatives products. HSBC is already live on Calypso for credit derivatives.
"Calypso has given us faster time to market. We were live on the first equity derivative product within 9 months of the decision," said Sandeep Saksena, Head of Derivatives and FX IT at HSBC Bank USA. "We expect to move all our equity derivatives business to Calypso by the end of this year."
Cost reduction was another factor in HSBC's decision.
"Given the success of the credit derivatives project, we wanted to expand our use of Calypso," added Saksena. "Using one system to process multiple products saves us money. Our support costs are reduced, and our team can focus on more value added activities."
HSBC joins a growing list of existing Calypso customers expanding their use of the system.
"We are pleased HSBC has extended its use of Calypso. It is a measure of their confidence in the product," said Kishore Bopardikar, President of Calypso Technology. "It is a simple formula for success: satisfied, long-term clients."
HSBC Bank USA
About HSBC Bank USA has more than 410 branches in New York State, giving it the most extensive branch network in New York. The bank also has eight branches in Florida, two in Pennsylvania, three in California and 17 in Panama. HSBC Bank USA is the tenth largest US commercial bank ranked by assets and is a subsidiary of HSBC USA Inc, an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc (NYSE: HBC). Headquartered in London, and with over 7,000 offices in 81 countries and territories, the HSBC Group is one of the world's leading banking and financial services organizations. For more information about HSBC Bank USA and its products and services visit http://www.us.hsbc.com/.
"Calypso has given us faster time to market. We were live on the first equity derivative product within 9 months of the decision," said Sandeep Saksena, Head of Derivatives and FX IT at HSBC Bank USA. "We expect to move all our equity derivatives business to Calypso by the end of this year."
Cost reduction was another factor in HSBC's decision.
"Given the success of the credit derivatives project, we wanted to expand our use of Calypso," added Saksena. "Using one system to process multiple products saves us money. Our support costs are reduced, and our team can focus on more value added activities."
HSBC joins a growing list of existing Calypso customers expanding their use of the system.
"We are pleased HSBC has extended its use of Calypso. It is a measure of their confidence in the product," said Kishore Bopardikar, President of Calypso Technology. "It is a simple formula for success: satisfied, long-term clients."
HSBC Bank USA
About HSBC Bank USA has more than 410 branches in New York State, giving it the most extensive branch network in New York. The bank also has eight branches in Florida, two in Pennsylvania, three in California and 17 in Panama. HSBC Bank USA is the tenth largest US commercial bank ranked by assets and is a subsidiary of HSBC USA Inc, an indirectly-held, wholly-owned subsidiary of HSBC Holdings plc (NYSE: HBC). Headquartered in London, and with over 7,000 offices in 81 countries and territories, the HSBC Group is one of the world's leading banking and financial services organizations. For more information about HSBC Bank USA and its products and services visit http://www.us.hsbc.com/.
Monday, July 7, 2003
Wachovia Goes Live on Calypso for Credit Derivatives
San Francisco, 07 July 2003 – Calypso Technology announced today that Wachovia Corporation has gone live on the Calypso system for its credit derivatives business. The company will use the system for front-to-back processing for a broad range of credit derivatives.
"Our credit derivatives business is growing," said Joe Belciglio, Managing Director, Trading Technology. "With higher volumes come new systems requirements. Calypso enables us to enter deals quickly, and ensures that our systems capabilities grow as our business does. Their system makes it easy to manage the huge amount of static and market data dealing with issuers, issues, default probabilities, recovery rates and correlations between them."
"The Calypso system supports both vanilla and complex credit products," continued Belciglio. "Moreover, we can extend the system ourselves to handle new products. That flexibility is essential in a rapidly evolving market such as credit derivatives."
"Wachovia's use of Calypso in this area validates the strength of our credit derivatives offering," said Charles Marston, CEO of Calypso. "We were able to sign several large clients within a few months of launching the product - a sign that our product satisfies unmet needs in the market."
About Wachovia Corporation
Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $348 billion and stockholders' equity of $32 billion at March 31, 2003. Wachovia is a leading provider of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 48 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com.
"Our credit derivatives business is growing," said Joe Belciglio, Managing Director, Trading Technology. "With higher volumes come new systems requirements. Calypso enables us to enter deals quickly, and ensures that our systems capabilities grow as our business does. Their system makes it easy to manage the huge amount of static and market data dealing with issuers, issues, default probabilities, recovery rates and correlations between them."
"The Calypso system supports both vanilla and complex credit products," continued Belciglio. "Moreover, we can extend the system ourselves to handle new products. That flexibility is essential in a rapidly evolving market such as credit derivatives."
"Wachovia's use of Calypso in this area validates the strength of our credit derivatives offering," said Charles Marston, CEO of Calypso. "We were able to sign several large clients within a few months of launching the product - a sign that our product satisfies unmet needs in the market."
About Wachovia Corporation
Wachovia Corporation (NYSE:WB), created through the September 1, 2001, merger of First Union and Wachovia, had assets of $348 billion and stockholders' equity of $32 billion at March 31, 2003. Wachovia is a leading provider of financial services to retail, brokerage and corporate customers throughout the East Coast and the nation. The company operates full-service banking offices under the First Union and Wachovia names in 11 East Coast states and Washington, D.C., and offers full-service brokerage with offices in 48 of the 50 states. Global services are provided through more than 30 international offices. Online banking and brokerage products and services are available through wachovia.com.
Wednesday, June 4, 2003
Calypso Wins Overall Technology Leader Award from The Banker
San Francisco, 04 June 2003 – Calypso Technology announced today that it was awarded the Overall Technology Leader award for Wholesale Back Office Application of the Year by The Banker Magazine. The Banker is a publication of the Financial Times Business group. This year's awards were the inaugural technology awards given by the magazine.
"The judging panel chose Calypso as it clearly differentiated itself from the pack. The winner was based on a number of criteria. True innovation, adaptability to business needs, fast implementation, and customer satisfaction were all considered. Our panel felt Calypso distinguished itself on all fronts," said Parveen Bansal, Technology Editor for The Banker.
"To be recognized as the overall leader in this category brings great satisfaction. We set out to build the leading cross asset front to back trading system in the industry. While we continue to enhance our application to meet the changing needs of the industry, this award validates our efforts, " said Charles Marston, CEO of Calypso Technology.
Calypso received the award at The Banker Technology Awards 2003 evening on June 3 in London.
About Financial Times Business
Financial Times Business is part of the Financial Times and Pearson Plc. Established in 1926, The Banker provides global financial intelligence to the international banking and finance community. Published monthly, each issue delivers news and opinion on the latest developments in both the retail and investment banking sectors. With regular software and technology updates, new product innovations, country profiles and expert market commentary from leading industry figures, The Banker is essential reading for all banking and finance professionals.
"The judging panel chose Calypso as it clearly differentiated itself from the pack. The winner was based on a number of criteria. True innovation, adaptability to business needs, fast implementation, and customer satisfaction were all considered. Our panel felt Calypso distinguished itself on all fronts," said Parveen Bansal, Technology Editor for The Banker.
"To be recognized as the overall leader in this category brings great satisfaction. We set out to build the leading cross asset front to back trading system in the industry. While we continue to enhance our application to meet the changing needs of the industry, this award validates our efforts, " said Charles Marston, CEO of Calypso Technology.
Calypso received the award at The Banker Technology Awards 2003 evening on June 3 in London.
About Financial Times Business
Financial Times Business is part of the Financial Times and Pearson Plc. Established in 1926, The Banker provides global financial intelligence to the international banking and finance community. Published monthly, each issue delivers news and opinion on the latest developments in both the retail and investment banking sectors. With regular software and technology updates, new product innovations, country profiles and expert market commentary from leading industry figures, The Banker is essential reading for all banking and finance professionals.
Monday, April 28, 2003
Calypso Announces Support for Linux
San Francisco, 28 April 2003 – Calypso Technology announced today that the Calypso system now supports the Linux open source operating system. Calypso provides front to back trading and processing solutions for all treasury, fixed income, equity and structured products to the world's leading financial institutions.
Supporting Linux is an integral part of Calypso's strategy to provide the lowest total cost of ownership to its customers.
"Calypso is focused on lowering its clients overall costs. We look at all the elements that go into this. Our system provides clients with greater STP which reduces operational expenses. Customers have been able to eliminate the costs of maintaining multiple systems by using Calypso. By supporting Linux, we are now providing them with the least expensive option for them to deploy and operate critical business applications like Calypso." Said Kishore Bopardikar, President of Calypso.
Calypso's ability to run on Linux makes it an attractive system choice for banks adopting a modern system strategy but unable to find appropriate applications for use.
"Many banks now have an open source plan and are adopting Linux. They would like to use it more widely but are restricted by applications that were built for a single platform and cannot be migrated over to Linux. With the support of Linux we are simply addressing our customers needs," commented Bopardikar.
Calypso's support for Linux was very straightforward as the system is built completely in Java. No additional development was required and the same version system is now available for all platforms including Linux, Windows, Solaris and others. Testing on Linux is integral part of the development process at Calypso. Calypso itself uses Linux to run its system in house in various instances.
Supporting Linux is an integral part of Calypso's strategy to provide the lowest total cost of ownership to its customers.
"Calypso is focused on lowering its clients overall costs. We look at all the elements that go into this. Our system provides clients with greater STP which reduces operational expenses. Customers have been able to eliminate the costs of maintaining multiple systems by using Calypso. By supporting Linux, we are now providing them with the least expensive option for them to deploy and operate critical business applications like Calypso." Said Kishore Bopardikar, President of Calypso.
Calypso's ability to run on Linux makes it an attractive system choice for banks adopting a modern system strategy but unable to find appropriate applications for use.
"Many banks now have an open source plan and are adopting Linux. They would like to use it more widely but are restricted by applications that were built for a single platform and cannot be migrated over to Linux. With the support of Linux we are simply addressing our customers needs," commented Bopardikar.
Calypso's support for Linux was very straightforward as the system is built completely in Java. No additional development was required and the same version system is now available for all platforms including Linux, Windows, Solaris and others. Testing on Linux is integral part of the development process at Calypso. Calypso itself uses Linux to run its system in house in various instances.
Tuesday, February 18, 2003
DataSynapse Partners with Calypso Technology to Scale Front/Middle-office Analytics and Decision Support
San Francisco, 18 February 2003 – Calypso Technology, provider of cross-asset front-to-back trading systems, and DataSynapse, provider of a leading self-managed, grid computing platform announced today an integrated solution: the grid computing capability of DataSynapse's LiveCluster™ joined with the trading platform of Calypso. The companies also announced the adoption of this joint solution by Wachovia Corporation.
Calypso is a modern, front-to-back trading system with broad support for asset classes and business functionality. DataSynapse's guaranteed grid computing platform, LiveCluster, enables clients to meet the workload of hundreds of traders, risk managers, and IT professionals in a real-time environment without incurring additional hardware, development, or support costs.
The announced integration will permit calculations within Calypso to be performed faster by distributing them over a network of computers via LiveCluster. This applies equally to client proprietary analytics integrated into Calypso with their open application programming interfaces (APIs). These proprietary analytics are then automatically available for distribution via LiveCluster without modification. Calypso and LiveCluster are written entirely in the Java programming language and integrate seamlessly in a client's architecture.
"Our partnership with DataSynapse benefits all concerned," said Charles Marston, CEO of Calypso Technology. "Good decisions depend on timely information, but the analytics of trading and risk have become more complex and compute intensive. Our clients can speed up these calculations using grid computing via LiveCluster."
"Calypso is the market leader for cross-asset trading and processing systems," said Peter Lee, CEO of DataSynapse. "Our joint success with Calypso validates our partnering strategy with leading financial application software providers."
Calypso and DataSynapse expect to work together with several financial institutions, as they did with Wachovia.
"The combination of Calypso's STP framework with DataSynapse's grid computing has had a significant impact on our fixed income derivatives area over the past two years," said Andy Cook, Director, U.S. Dollar Derivatives, Wachovia Corp. "We evaluated several alternatives. Calypso and DataSynapse gave us the fastest implementation. This year we will trade over $1 billion in fixed income and related capital markets products using Calypso and DataSynapse, and we plan to extend our use of their integrated solution."
"Implementing complex models over large portfolios while still maintaining adequate levels of performance to facilitate trading is a major challenge throughout the financial services industry." said Debbie Williams, Group Vice President, Capital Markets and Corporate Banking, Financial Insights (formerly Meridien Research). "End user applications are increasingly dependent on the layers of software and hardware to facilitate this performance. It will take partnerships like this one between DataSynapse and Calypso to make these processes run smoothly."
About DataSynapse
DataSynapse, Inc. (http://www.datasynapse.com/) enables applications requiring scalability to exploit distributed computing capabilities by efficiently utilizing the overall IT environment. DataSynapse deploys a self-managed, guaranteed, distributed computing platform, LiveCluster, that delivers order of magnitude increases in the speed and reliability of software applications while substantially reducing clients' total cost of ownership and accelerating their time-to-deploy. LiveCluster solves compute- and data-intensive bottlenecks and scalability constraints by unobtrusively harnessing the power of servers, clusters and/or desktops anywhere on a client's network, whether dedicated or underutilized. LiveCluster integrates easily with new or legacy applications running on Linux, Unix, or Windows systems. DataSynapse is headquartered in New York, with offices in London, Houston, Chicago, Washington D.C. and San Francisco.
Calypso is a modern, front-to-back trading system with broad support for asset classes and business functionality. DataSynapse's guaranteed grid computing platform, LiveCluster, enables clients to meet the workload of hundreds of traders, risk managers, and IT professionals in a real-time environment without incurring additional hardware, development, or support costs.
The announced integration will permit calculations within Calypso to be performed faster by distributing them over a network of computers via LiveCluster. This applies equally to client proprietary analytics integrated into Calypso with their open application programming interfaces (APIs). These proprietary analytics are then automatically available for distribution via LiveCluster without modification. Calypso and LiveCluster are written entirely in the Java programming language and integrate seamlessly in a client's architecture.
"Our partnership with DataSynapse benefits all concerned," said Charles Marston, CEO of Calypso Technology. "Good decisions depend on timely information, but the analytics of trading and risk have become more complex and compute intensive. Our clients can speed up these calculations using grid computing via LiveCluster."
"Calypso is the market leader for cross-asset trading and processing systems," said Peter Lee, CEO of DataSynapse. "Our joint success with Calypso validates our partnering strategy with leading financial application software providers."
Calypso and DataSynapse expect to work together with several financial institutions, as they did with Wachovia.
"The combination of Calypso's STP framework with DataSynapse's grid computing has had a significant impact on our fixed income derivatives area over the past two years," said Andy Cook, Director, U.S. Dollar Derivatives, Wachovia Corp. "We evaluated several alternatives. Calypso and DataSynapse gave us the fastest implementation. This year we will trade over $1 billion in fixed income and related capital markets products using Calypso and DataSynapse, and we plan to extend our use of their integrated solution."
"Implementing complex models over large portfolios while still maintaining adequate levels of performance to facilitate trading is a major challenge throughout the financial services industry." said Debbie Williams, Group Vice President, Capital Markets and Corporate Banking, Financial Insights (formerly Meridien Research). "End user applications are increasingly dependent on the layers of software and hardware to facilitate this performance. It will take partnerships like this one between DataSynapse and Calypso to make these processes run smoothly."
About DataSynapse
DataSynapse, Inc. (http://www.datasynapse.com/) enables applications requiring scalability to exploit distributed computing capabilities by efficiently utilizing the overall IT environment. DataSynapse deploys a self-managed, guaranteed, distributed computing platform, LiveCluster, that delivers order of magnitude increases in the speed and reliability of software applications while substantially reducing clients' total cost of ownership and accelerating their time-to-deploy. LiveCluster solves compute- and data-intensive bottlenecks and scalability constraints by unobtrusively harnessing the power of servers, clusters and/or desktops anywhere on a client's network, whether dedicated or underutilized. LiveCluster integrates easily with new or legacy applications running on Linux, Unix, or Windows systems. DataSynapse is headquartered in New York, with offices in London, Houston, Chicago, Washington D.C. and San Francisco.
Monday, February 3, 2003
The Royal Bank of Scotland, Financial Markets to Provide Global Capital Markets Operations Processing on Calypso System
San Francisco, 03 February 2003 – Calypso Technology announced today that it has been selected by The Royal Bank of Scotland (RBS), Financial Markets for Capital Markets Operations processing globally.
The Royal Bank of Scotland is the fifth largest bank globally by market capitalization and has a significant Capital Markets business. Capital Markets originates, trades and researches vanilla and structured debt capital securities across a range of asset classes, industry sectors, maturities and currencies across the credit spectrum, from Gilts and Euro-government Bonds to High Yield Bonds.
"We looked for a system that would deliver core functionality 'out of the box' whilst also providing us with the potential to develop functionality using a toolkit. This will enable us to support any business expansion and improve STP in a cost effective manner " said David Hefford, Global Head of Risk and Operations Technology at RBS Financial Markets. "Calypso addressed most of our requirements out of the box and will be extending the product according to our specifications".
RBS wants to deliver a scalable solution to support the Capital Markets business and also integrate with the strategic application architecture across Financial Markets.
"We are developing a processing infrastructure that will serve Financial Markets well into the future," added Hefford. "Calypso has the technical features to be a core component of the processing infrastructure for Capital Markets business and fits in well with our technical architecture.
The initial project is planned to go live in the second half of 2003. Calypso will eventually process the full range of Capital Markets products that RBS Financial Markets trades, from Gilts and Euro-government bonds to high-yield.
"We are excited about working with The Royal Bank of Scotland," said Charles Marston, CEO of Calypso Technology. "We see this as the start of a long partnership. It is through relationships like this that we have built our growing presence in the market."
About The Royal Bank of Scotland Group
The Royal Bank of Scotland is a broadly based financial services group with operations spanning clearing banking, corporate banking, financial services, investment management and insurance, both in the UK and overseas. It is the second largest in bank in Europe and the fifth largest banking group in the world by market capitalisation. The Group serves over 18 million customers. Through its Financial Markets division it provides specialist services in global foreign exchange, currency and structured derivatives, money markets, together with a wide range of interest rate management services to The Royal Bank of Scotland and NatWest international corporate and institutional client base. For further information, please visit http://www.rbsmarkets.com/
The Royal Bank of Scotland is the fifth largest bank globally by market capitalization and has a significant Capital Markets business. Capital Markets originates, trades and researches vanilla and structured debt capital securities across a range of asset classes, industry sectors, maturities and currencies across the credit spectrum, from Gilts and Euro-government Bonds to High Yield Bonds.
"We looked for a system that would deliver core functionality 'out of the box' whilst also providing us with the potential to develop functionality using a toolkit. This will enable us to support any business expansion and improve STP in a cost effective manner " said David Hefford, Global Head of Risk and Operations Technology at RBS Financial Markets. "Calypso addressed most of our requirements out of the box and will be extending the product according to our specifications".
RBS wants to deliver a scalable solution to support the Capital Markets business and also integrate with the strategic application architecture across Financial Markets.
"We are developing a processing infrastructure that will serve Financial Markets well into the future," added Hefford. "Calypso has the technical features to be a core component of the processing infrastructure for Capital Markets business and fits in well with our technical architecture.
The initial project is planned to go live in the second half of 2003. Calypso will eventually process the full range of Capital Markets products that RBS Financial Markets trades, from Gilts and Euro-government bonds to high-yield.
"We are excited about working with The Royal Bank of Scotland," said Charles Marston, CEO of Calypso Technology. "We see this as the start of a long partnership. It is through relationships like this that we have built our growing presence in the market."
About The Royal Bank of Scotland Group
The Royal Bank of Scotland is a broadly based financial services group with operations spanning clearing banking, corporate banking, financial services, investment management and insurance, both in the UK and overseas. It is the second largest in bank in Europe and the fifth largest banking group in the world by market capitalisation. The Group serves over 18 million customers. Through its Financial Markets division it provides specialist services in global foreign exchange, currency and structured derivatives, money markets, together with a wide range of interest rate management services to The Royal Bank of Scotland and NatWest international corporate and institutional client base. For further information, please visit http://www.rbsmarkets.com/
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