Calypso Unveils Version 9.0; Extends Leadership Position in Capital Markets Software

• Infrastructure enhancements build on technical superiority
• Further broadens product coverage

San Francisco, May 14, 2007 - Calypso Technology, Inc., (Calypso) a leading provider of capital markets trading software solutions today unveiled Version 9.0 of the Calypso suite of solutions. Enhancements in all solution areas build upon Calypso’s innovations in trading, risk management and processing for derivatives, treasury and securities.

Calypso Version 9.0 includes several new innovations that distinguish Calypso from other providers in the capital markets space. These include:

• Calypso eXSP now enables clients to configure Instrument Masters for exotic structures without any coding. Embedded in each Instrument Master is its generic calculation rules and trade entry panel, so that at time of trade, the trader just needs to select the best-fit Master, modify to match unique specifics such as indexes or spreads, and then book the trade. The new structure is fully and instantly incorporated within Calypso as a standard trade. Calypso eXSP provides unrivalled product coverage while enabling clients to control when and where to bring new products to market.
  
• Calypso ERS (Enterprise Risk Service) now includes a complete real-time limits solution. Built upon the state-of-the-art web-based infrastructure of ERS, the limits module enables enterprise-wide monitoring of settlement, exposure and issuer limits.
  
• The Calypso Credit Derivatives solution now includes a unique CDO structuring & analysis tool that enables the creation of a bespoke portfolio, pricing of the complete capital structure, enables substitutions and manages the trades affected by substitutions. Markit certification guarantees the quality of integration work for their data. In addition, credit contingency features have now been added to all OTC products.
  
• Calypso’s underlying infrastructure has also been modified to ensure it remains at the cutting edge of software development. The use of clustering for data servers ensures maximum availability of the solutions, and the Calypso database schema is now defined in XML to simplify the upgrade process. Additions of new server-side components thin the Calypso client applications further.
  
• The new Calypso Asset Management Module adds functionality meeting the specific requirements of asset managers to the leading sell-side capital markets solutions. The module enables fund and strategy configuration and associations, the ability to trade funds, position configuration and look-through analysis.

“Our highly-skilled engineering team has excelled in enhancing the Calypso functionality and infrastructure with Calypso Version 9.0”, said Charles Marston, CEO of Calypso Technology, Inc. “We have made several of the enhancements in conjunction with various clients’ input and the market feedback to Calypso Version 9.0 has been extremely positive to date. The innovations demonstrate that Calypso is still the next generation provider for capital markets trading.”

Calypso named by Markit as First Certified Partner for Trading and Processing Solutions

San Francisco, March 26, 2007 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions, today announced that it has received Certified Alliance Partner status under Markit’s certification program which was launched in January, 2007. Calypso is the first provider of trading and trade processing solutions to successfully complete the certification program.

In order to receive certification, Calypso’s product management team for credit derivatives had to demonstrate that the completed integration of CDS, CDS Indices, RED and Tranche data met the integration standards defined by Markit. The certification means that joint customers of Calypso and Markit can be assured of a high quality of integration. The combination of Calypso’s best of breed front-to-back solution for credit derivatives and Markit’s leading independent credit data creates an unrivalled value proposition for any organisation trading these products.

“Calypso has invested in an ongoing partnership with Markit for several years – we were the first vendor to integrate RED in 2004 and have expanded the integration of Markit data throughout our credit derivatives solution”, said Charles Marston, CEO of Calypso Technology, Inc. “Beyond the certification, we continue to look at new ways to interface to Markit’s offerings. For example, through our project to integrate Markit’s Reference Cashflow Database for clients using Calypso to trade CDS on ABS.”

“We are delighted to recognize Calypso as the first trading and processing solution provider among our alliance partners to receive formal certification. Calypso has proven the quality of its integration work, a process that was accelerated by the strength of the partnership between the two firms and the technical skills of individuals on both sides,” said Nicola von Schroeter, Global Head of the Markit Alliance Program.

About Markit
Markit Group Limited is the leading provider of independent data, portfolio valuations and OTC derivatives trade processing to the global financial and commodities markets. The company receives daily data contributions from over 75 dealing firms, and its services are used by almost 1,000 institutions to enhance trading operations, reduce risk and manage compliance.

Markit’s position in the derivatives markets has been acknowledged by the industry with numerous awards. In 2006, the company won Operations Management’s Vendor of the Year award (Trade Processing); Financial News’ Best Derivatives Data Solution and Best New Vendor Solution (Portfolio Valuations); Credit’s Best Operational Support Services Provider; Inside Market Data’s Reference Data Provider of the Year, and Company to Watch; Risk’s Trading Initiative of the Year (Credit Event Fixings); and Structured Finance International’s Editor’s Award for Advancing Structured Finance. In 2005, Markit received International Securitisation Report’s Editor’s Award for Innovation; International Financing Review’s Innovation of the Year (Credit Event Fixings); Financial News’ Best Derivatives Data Provider; and Operations Management’s Vendor of the Year award.
For more information, see http://www.markit.com/

Erste Bank selects Calypso as strategic derivatives platform

San Francisco, March 12, 2007 – Calypso Technology, Inc., (Calypso) a leading provider of capital markets trading software solutions today announced that Erste Bank Group, Central and Eastern Europe’s Leading Financial Services Company, has selected Calypso as its front to back, group-wide solution for interest rate, FX and credit derivatives.

Erste Bank was looking for a solution which could handle the more exotic interest rate products it offers clients, and also had key strengths in credit derivatives and FX options. The bank was impressed by Calypso’s comprehensive functionality and ability to handle a broad range of derivative products. One of the key drivers behind Erste Bank’s decision to choose Calypso was the flexibility of the application, which means the Bank can add new structures and hybrid products with specific payouts when needed.

“We felt it was time to move to a system that would provide us with a simplified way to trade the exotic products we are using. The strength of integration in Calypso’s front to back system is extremely important to us; we expect to see significant benefits through managing cross-asset risk and improving STP for flow and structured derivatives”, commented Herbert Juranek, Head of Group IT of Erste Bank. “Our decision to use Calypso is based on its ability to support our business now as well as a strategic approach to expanding our derivatives activity in the future. We will be leveraging Calypso's highly extendable platform to gain competitive advantages.”

“Derivatives trading and processing are key areas of strength for Calypso, and we welcome the opportunity to become a strategic partner for Erste Bank and look forward to supporting their business development plans”, said Charles Marston, CEO of Calypso Technology, Inc. “Erste Bank’s selection of Calypso is another step in the substantial increase in our German, Austrian and also Central and Eastern Europe client base; and we have expanded our presence in Germany significantly to meet this demand.”

About Erste Bank
Erste Bank, founded in 1819, was the first savings bank in Austria. Today it represents one of the largest financial services providers in Central and Eastern Europe, where Erste Bank has so far acquired more than 10 banks (in Slovakia, Czech Republic, Hungary, Croatia, Serbia, Romania and Ukraine). Almost 50.000 employees serve almost 16 million clients in more then 2.700 branches. 13 out of its 16 million clients live in Central and Eastern Europe. Erste Bank’s business focus is directed at the retail market as well as small and medium-sized enterprises. It offers a broad range of services comprising consumer finance and mortgages, savings and wealth management products as well as SME finance and corporate banking.

Calypso Celebrates 6th Consecutive Year of Double Digit Growth

• Product innovation and commitment to technology excellence drive client growth
• Achievements recognized by Risk Magazine, Financial-i, and Inc. 500 awards

San Francisco, March 1, 2007 - Calypso Technology Inc. (Calypso) the leading provider of capital markets trading software solutions for global financial institutions, today announced that 2006 was its sixth consecutive year of double-digit revenue and client growth.

The new client signings include global and regional banks, hedge funds and asset managers. Building on its 2005 landmark gains, Calypso experienced almost 25% increase in new clients in the Americas and a 40% gain in Europe, while client numbers more than doubled in Asia. Both new and existing clients expressed strong interest across all products with front-to-back solutions for derivatives trading, enhanced structuring capabilities, as well as treasury processing exhibiting the greatest demand.

"These results demonstrate Calypso's persistent investment in research and advanced technology, which has enabled us to deliver products and services that help clients excel in a demanding marketplace," stated Charles Marston, Chairman and CEO of Calypso. "Our innovative infrastructure coupled with continuous functional enhancements, consistently pushes the boundaries for capital markets systems."

In 2006 a variety of enhancements and services were introduced, including:

• Enterprise Risk Service (ERS), state-of-the-art risk management capabilities that meets the challenges of calculating, aggregating, and disseminating key risk measures in real-time
• Cash management module, enables users to streamline their own accounts, as well as provide a value-added service to their clients
• Enhanced collateral management module, including margin requirements
• Continued leadership in credit including support for credit default swaps on asset- backed securities and for CDO2
• Front-to-back support for a wide variety of structured and hybrid products without coding, enabling clients to react quickly to the creativity of their trading room

Calypso continued to achieve industry recognition throughout 2006 for its innovative technology that helps organizations address end-to-end capital market needs for the newest, most complex investments to high volume, commoditized instruments and achieve unmatched results. Key awards included two first place rankings in Risk Magazine for 'Credit Trading' and 'Credit Front-to-Back Office Systems', plus top-five finishes in nine other categories; Financial-i's 'Most Innovative Derivatives Processing Solution', and a year-over-year 131 ranking jump to the 309th spot in the Inc. 500 ranking of fastest-growing private companies in the US.

Calypso Ranked as Top Solution for Credit Derivatives

• Risk Magazine awards Calypso the #1 position in credit trading as well as credit front-to-back office systems in 2006 Technology Rankings
• Calypso recognized as ‘Most Innovative Derivatives Processing Solution’ by Financial-i’s inaugural “Leaders in Innovation Awards”

San Francisco, January 10, 2007 – Calypso Technology Inc, the leading provider of capital markets trading software solutions, today announced that the Calypso credit derivatives solution was voted the top trading system and front-to-back office system for credit in Risk Magazine’s 2006 Technology Rankings.

“The biggest gains in this year’s survey have been made by California-based Calypso Technology, Inc. Calypso has moved from 16th to sixth place in the overall results, with wins in credit trading and credit front-to-back office systems, and top-five finishes in nine other categories,” noted Risk Magazine. Calypso Technology’s diverse client base and unique strength in credit derivatives enabled the jump up the rankings and resulting wins in credit. The rankings are based on a survey of technology end-users in banks, hedge funds, asset management firms, and other financial institutions.

Calypso was named the ‘Most Innovative Derivatives Processing Solution’ by Financial-i Magazine in recognition of its commitment to product innovation over the last 12 to 18 months, cost effectiveness in terms of implementation and deployment, ease of implementation, and agility in responding to the dynamic financial markets. Built on superior system architecture, Calypso provides end-to-end solutions that help clients excel in today’s heightened competitive environment. “It is the only solution that was built from inception as an integrated product addressing all asset classes, and front-to-back-office functions,” the magazine stated in its Q4 2006 issue.

Charles Marston, Chairman and CEO of Calypso Technology, Inc. commented: “These awards highlight the satisfaction of our customers and also Calypso’s ability to keep pace with the evolving derivatives market and incorporate the latest developments into our solutions. We continually strive toward both these goals so we are delighted to receive this prestigious industry recognition. We would also like to thank our customers for voting for Calypso – it is through their partnership that we have gained our position as the key innovator supporting capital markets trading.”

Calypso Launches New Cash Management Module

• The new module is designed to allow clients to carry out cash management tasks on both internal (nostro) accounts and also client accounts

Sibos, Sydney, 10 October 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced the launch of a new cash management module for internal and client accounts. The new module enables Calypso users to streamline their own accounts, as well as provide a value-added service to their clients.

The new module is designed to allow clients to carry out cash management tasks on both internal (nostro) accounts and also client accounts. The new module enables the monitoring of cash positions and the creation and sending of account statements according to a user’s definitions. Account sweeping can be executed manually or as a scheduled task, with transfers made automatically as required. Interest calculations, the ability to apply management fees to nostro and client accounts, as well as comprehensive reconciliation facilities including the generation of appropriate SWIFT messages, assists Calypso users in updating their own and their client’s accounts in a timely and accurate fashion.

Fully integrated with the Calypso cross-asset processing solution, the cash management module incorporates Calypso’s workflow capability to give users the option to automate each process as required.

Charles Marston, Chairman and CEO of Calypso Technology, Inc. commented: “Calypso’s back office functionality is broadly recognized as one of the true market leaders in terms of increasing processing efficiency and reducing the costs involved. The new cash management module is a compelling addition to our offering. It gives our customers the ability to meet the varied and specific requirements of their clients.”

Calypso Technology Expands in Asia

• Aaron Hallmark appointed Head of Professional Services in Singapore

Tokyo/Singapore/Sydney, 09 October 2006 – Calypso Technology, Inc., a leading provider of capital markets trading solutions for global financial institutions, today announced that it has expanded its operations in Asia-Pacific in response to increasing demand for its software solutions within the region.

Aaron Hallmark has been appointed Head of Professional Services in Singapore, moving from Calypso’s New York operation to work with Singapore-based clients. August saw the opening of Calypso’s Mumbai office, headed by Manohar Uchil, for sales, support and development. Calypso opened an office in Singapore in 2005, and has had offices in Sydney since 2001 and Tokyo since 2002.

Calypso’s Asian clients include Mizuho, Sumitomo Trust & Banking (STB) and Pusan Bank, and during 2005, the company’s client numbers in the region doubled. Working with these clients has resulted in functionality being added to the system to handle some of the more specific requirements of banks in different Asian countries. For example, modifications were made to the accounting module to be compliant with Japanese GAAP and connectivity to MEPS+ has been added.

Charles Marston, Chairman and CEO of Calypso Technology, Inc. commented: “Asia Pacific is an important region for Calypso, as we are seeing increasing demand for sophisticated derivatives systems as well as Treasury software. Calypso provides a strong software solution for these areas, and our increasing client base is testament to this.”

Calypso Leaps Up the Inc 500 Ranking to #309 in 2006

San Francisco, 22 September 2006 –Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced that it has made a substantial leap up the Inc. 500 ranking of fastest-growing private companies in the US. Calypso Technology’s 2006 ranking at 309 is 131 places higher than the first appearance in the list in 2005, which positioned Calypso at 440. The Inc. 500 ranking is based on Calypso’s three-year sales growth rate of 439.7 % from 2003-2005.

“We are delighted by our upward progress and recognition in the Inc 500 ranking this year. We continue to successfully explore new markets and new opportunities, and that success is reflected in our favorable sales growth,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.

Calypso Announces Opening of Mumbai Office

• Tenth office opened due to local demand and expansion plans

San Francisco, Mumbai, 14 September 2006 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced the opening of its Mumbai office, and the incorporation of its Indian subsidiary.

The Mumbai office will comprise individuals in sales and support roles, as well as developers who will complement the existing development teams in San Francisco, New York, Paris and London. Calypso has increased headcount globally in the last 12 months and, by opening an office in India, the company plans to continue to drive its hiring plan forward.

The new office is headed by Manohar Uchil, who joins Calypso from JPMorgan Chase, bringing over 20 years of financial markets experience. Mr. Uchil spent six years at JPMorgan where his roles included Chief Business Technologist – India for the investment banking division. Prior to JPMorgan, he also gained extensive capital markets IT experience from Citicorp Overseas Software Ltd and Tata Consultancy Services.

“In Mumbai, we have identified a pool of talented individuals in the field of financial software technology, as well as an appetite in the banks for capital markets trading including derivatives and structured products,” said Kishore Bopardikar, President of Calypso Technology, Inc. “This provides an excellent setting in which to grow Calypso and, with Manohar’s knowledge and experience, we expect to successfully recruit a great local team designed to enrich Calypso in several ways. Furthermore, we are excited about the opportunities presented to us in the Indian market and look forward to welcoming new clients in the region.”

The Mumbai office is the tenth Calypso office. Headquartered in San Francisco, Calypso Technology also has offices in New York, London, Paris, Frankfurt, Singapore, Sydney, Tokyo and Johannesburg. Calypso Technology will exhibit at the Risk India Congress taking place in Mumbai on 19-20 September.

Calypso Launches Calypso ERS

San Francisco, 31 July 2006 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced the launch of Calypso Enterprise Risk Service (ERS) which provides state-of-the-art risk management capabilities in a module designed specifically for risk controllers and managers.

Risk managers will be able to leverage this new module to monitor and oversee key risk exposures with measures such as Value-at-Risk, stress tests and risk factor sensitivities. Calypso ERS utilises a Service-Orientated-Architecture (SOA), distributes risk simulation analysis over a compute-grid and delivers results in a Web browser. This architecture is designed to meet the scalability, extensibility and deployment requirements that leading financial firms need to manage their business.

“The increasing complexity of financial instruments and phenomenal growth in markets such as credit derivatives have placed demands on existing risk management systems. This has made it harder for risk managers to get the visibility they need on enterprise risk exposure,” says Amir Khwaja, Director of Risk Management at Calypso Technology, Inc. “We believe that with Calypso ERS, we have a product offering that enables financial firms to meet the challenge of calculating, aggregating and disseminating key risk measures that are same-day not next day, utilising pricing models calibrated by the firm and covering the depth and breadth of trading activity.”

Calypso ERS is fully integrated with the rest of the Calypso suite of capital markets solutions and has the agility to grow in line with the demands of the market.

T-Zero Partners with Calypso Technology Bringing Greater Efficiency and STP to CDS Trading

London, New York and San Francisco, 24 May 2006 – T-Zero today announced a strategic partnership with Calypso Technology, Inc., the leading provider of capital markets trading software solutions for global financial institutions, which will support the development of an interface between Calypso and T-Zero. This partnership further assists Calypso’s clients in improving straight through processing (STP) of credit derivatives trades through T-Zero’s services.

Under the new partnership, Calypso’s front-office trade capture system provides seamless access to T-Zero’s Affirmation Service. T-Zero’s workflow and real-time messaging ensures that Calypso clients capture their credit derivative transactions with 100% accuracy. In addition, T-Zero’s “Agnostic Connectivity” allows Calypso clients to electronically connect to DTCC, GlobeOp and the T-Zero user base, which is growing daily.

Mark Beeston, president of T-Zero, indicated that all Calypso credit derivatives clients, which include both buy-side and sell-side organisations, can benefit from reductions in operational risk, human errors and operations costs through T-Zero.

Beeston pointed to statements made last week by former U.S. Federal Reserve Board Chairman Alan Greenspan indicating concerns that credit default swap transactions were still being captured on paper. According to reports, Greenspan called the backlog of unconfirmed trades “unconscionable” while also commenting that many trades “could be confirmed instantaneously” using available technology.

“Cairn welcomes the partnership between T-Zero and Calypso,” said Chris Bentley, infrastructure guru and Head of Operations at Cairn Capital, “We have worked closely with both parties to define a seamless, integrated trade capture and risk management infrastructure, moving towards timely trade data capture and matching. Innovations like this are vital steps in removing the current constraints on the CDS market and creating a volume insensitive environment – promoting growth and stability.”

“The credit derivatives market is continuing to develop its own unique infrastructure, of which T-Zero is an instrumental component,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc. “At Calypso, we strive to maintain our market-leading position in credit derivatives by working with companies like T-Zero, which we believe brings a valuable proposition to the market. We are delighted to be the first front-to- back solution provider to take this strategic step.”

“It is our goal to continue to work toward resolving the multiple operational issues affecting the markets to help ensure future growth in the industry,” said Beeston. “We are delighted to be partnering with Calypso in working towards this goal. Calypso software is used by numerous dealers, hedge funds and asset managers and this partnership significantly facilitates the adoption of T-Zero by those institutions.”

T-Zero’s approach to electronic connectivity and messaging directly addresses the major inefficiencies in post-trade derivative processing highlighted by the New York Federal Reserve and the FSA. T-Zero’s post-trade messaging and workflow system has been adopted by numerous dealers and trading platforms.

About T-Zero
T-Zero’s approach to electronic connectivity and messaging directly addresses the major inefficiencies in post-trade derivative processing highlighted by the New York Federal Reserve, the FSA and other regulators over the past year. Since being launched in August 2005, T-Zero’s post-trade messaging and workflow system has been adopted by numerous dealers and trading platform offering a uniquely flexible solution for the global credit derivatives market. The T-Zero platform enables communication and electronic affirmation of credit derivative trades on trade date, greatly reducing operational and settlement risks. A truly open communications platform, T-Zero connects market participants including major credit derivatives dealers, hedge funds, asset managers, prime brokers, fund administrators and documentation execution providers. Visit www.tzero.com for more information.

Banco Espírito Santo Selects Calypso

San Francisco, 15 May 2006 – Calypso Technology, Inc., a leading provider of capital markets trading software solutions for global financial institutions, today announced that Banco Espírito Santo, SA, a leading Portuguese commercial bank, has selected Calypso as its cross-asset back office solution for Treasury and Capital Markets. Calypso will be deployed across subsidiaries.
Calypso was selected on the strength of its complete cross-asset coverage which provided the best fit for its business. This is coupled with Calypso’s proven implementation track record and strong list of reference clients. Banco Espírito Santo needed to replace outdated legacy systems and considered several vendor solutions.

Mr. Pedro Cruchinho, a Senior VP at Banco Espírito Santo, commented: “We conducted a thorough review of several systems for our Treasury and Capital Markets department. Calypso stood out as the solution that could handle every instrument we traded – it is truly a cross-asset system.”

“The project with Banco Espírito Santo represents our first step into the Portuguese market, while expanding our Southern European client base. This is a very exciting growth phase for Calypso and we are delighted that Banco Espírito Santo is part of the success story,” said Charles Marston, Chairman and CEO of Calypso Technology, Inc.

About Banco Espírito Santo
Banco Espírito Santo (www.bes.pt), founded in 1920, is the third biggest financial institution operating in Portugal in total assets, with an average market share of 17.7% (end 2004) on the major business lines and with a total number of customers over 1.6 millions. Having an ancient tradition on innovation and a customer centric approach, its domestic branches network cover Portugal with almost 600 retail branches and at an international level it is present in 17 different countries through Branches, Representative Offices and Subsidiaries.

BES operates as a universal bank on a multi-channel distribution strategy and based on well defined customer segmentation, focusing on optimizing customer value.

Group BES has a clear and focused strategy: it aims to be the leading multi specialist financial group in Portugal, in which concerns innovation, customer service, profitability and efficiency.

Sumitomo Trust & Banking Goes Live with Calypso Interest Rate and FX Derivatives System

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/

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:

• 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.

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 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.

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.

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."

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/.

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/.

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.

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/

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.

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.

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.”

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:

• 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.

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."

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.

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 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.

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 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.”

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.

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:

• 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.

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:

• 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.

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.

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.

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.