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.
Monday, April 25, 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.
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