Legacy Asset Management Company (LAMCO) Goes Live with Calypso as Central Valuation Solution

• LAMCO implements Calypso for complex IRD and CDS support

Sibos, Toronto, September 20, 2011 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, announced today that Legacy Asset Management Company (LAMCO), a fully owned subsidiary of Lehman Brothers Holding Inc., has gone into production with the Calypso System as its core derivatives platform for valuation and risk. With over 500,000 trades across multiple asset classes in rates and credit products, LAMCO will leverage the Calypso System to value both its historical and live trades.

LAMCO was formed to serve as the asset management platform for Lehman Brothers Holdings Inc. (LBHI). LBHI launched LAMCO as a leading asset management capability focused on maximizing value over time for the firm’s less liquid legacy assets. Prior to the Calypso installation, LBHI had numerous systems across the front-, middle- and back office supporting the firm’s operations for derivatives, bank debt, real estate and commodities portfolio. LAMCO required a central platform to store its large portfolio with the capability of stratifying the data as needed by the various divisions within the firm.

“LAMCO wanted a single platform to house our vast portfolio of rates and credit trades for valuation and risk. Calypso provides a solution that precisely meets that need. With robust trade mapping tools to migrate our large population of trades and historical market data, along with the advanced pricing and risk capabilities across multiple asset classes for our counterparties and/or select trades on demand, Calypso allows our team to analyze our trade population more efficiently,” notes Savvas Mavridis, Managing Director at LAMCO. “Calypso provides us critical offerings that allow for an effective execution of our plans via a service hosted environment (SaaS); these include dynamic trade and market data mapping tools, street-tested pricing models and Calypso resources in the Professional Services, Financial Engineers, SaaS and Application teams.”

Calypso will be providing LAMCO with support for both complex and vanilla interest rate derivatives and credit default swaps via Calypso SaaS, the firm’s hosted platform. Calypso SaaS provides a powerful enterprise trading and risk management application in a managed, outsourced environment. By utilizing Calypso SaaS, LAMCO has benefitted from quicker time to market and seamless migration of the firm’s vast trade population into Calypso from previous vendor platforms. Calypso will be providing middle-office and desk-level risk management support. It will also serve as the central market data repository for all third party market data and used by the estate on a historical and go forward basis in the management of LAMCO’s live portfolio.

Charles Marston, CEO of Calypso, comments, “LAMCO is a perfect example of how a firm with even the most complex needs and requirements can rely on Calypso to solve an acute risk management challenge. Calypso offers the most robust derivatives support in the industry and LAMCO recognized our ability to seamlessly migrate and support their complex swaps portfolio. We’re excited to be working with such a unique company and look forward to a successful partnership.”

Calypso Becomes Among First Cross-Asset, Front-To-Back Technology Companies to Achieve ISO9001 Certification for Global Customer Service

San Francisco, August 17, 2011 — Calypso Technology, Inc., the premier global capital markets platform provider, today announced that the firm has achieved IS09001:2008 TickIT certification for its global Product Support operations.

Calypso Technology has become one of the first cross-asset, front-to-back office technology companies serving capital markets to be awarded the ISO9001: 2008 TickIT certification, an international standard for quality management for technology companies and functions. This certification, which incorporates all Product Support functions provided to all clients globally, further validates Calypso’s commitment to delivering world class customer service via consistent service, improved resolution performance, and process of continuous client feedback. The Calypso Product Support team is committed to providing timely, accurate, and complete resolutions to issues related to the installation, upgrade, or use of Calypso products.

To achieve the certification, Calypso launched a company-wide initiative to improve and maintain high standards of quality across the company’s operations. Entitled “Calypso Product Support Initiative,” the company embarked on a mission to standardize customer service and began implementing Quality System Management with the specific objective of improving performance on a continual and measurable basis, thus establishing stronger internal customer service standards.

“The capital markets IT industry has often been criticized for being slow and reluctant in embracing international customer service standards,” comments Yusuf Abdul-Rehman, Global Head of Product Support for Calypso Technology. “Calypso was committed to changing that perception and becoming a leader in its class for delivering quality. The ISO9001 certification validates our belief that Calypso Technology is a world-class organization and also provides us with a world-class framework for continuously improving service to our customers.”

The strategic initiative will enable Calypso customers to extract maximum value from their investment in Calypso software, helping them achieve their goals of incorporating greater efficiency and effectiveness in their business operations. “We are committed to increasing customer satisfaction and loyalty by improving operational effectiveness, consistency, and staff productivity,” continued Abdul-Rehman. “ISO 9001 certification means we are able to deliver the same high standard of service to all customers across diverse geographies and industries, and are able to benchmark our operations against best in class organizations for continuous improvement.”

Banco de Crédito del Peru (BCP) Selects Calypso for Front-To-Back Office, Cross-Asset Platform

• Calypso Technology’s system to support interest rate derivatives, FX, FXD, and fixed income products

New York, July 12, 2011 — Calypso Technology, Inc., the premier global capital markets platform provider, today announced that Banco de Credito del Peru (BCP) has selected the Calypso software system for their front-to-back office system supporting FX, interest rate derivatives, FX derivatives, commodities derivatives and fixed income products. Implementing Calypso’s seamless, cross-asset platform will enable BCP to centralize its infrastructure and expand into new businesses. The Calypso software also provides comprehensive middle office and risk management functionality, including the ability to manage limits across the organization.

BCP, a leading Peruvian financial institution with 328 branches, provides integrated financial services to individuals and institutional clients. In order to improve productivity and sustain business growth, BCP was seeking a single front-to-back office solution to replace their current infrastructure. This new solution would need to support increasing demand for rates and commodities products in the region and comply with increasingly stringent regulatory requirements in Latin America. “We truly believe that our technology can help transform the flourishing financial industry in this region and we are excited about the growth potential for the Calypso system in Latin America,” states Carlos Patiño, Director, Business Development - Latin America, who is leading Calypso Technology’s commercial initiatives in the region.

After a comprehensive selection process, BCP chose the Calypso platform because it offers a seamless end-to-end solution and workflow that will enable the firm to achieve better regulatory control and international best practices. “We set out to find a technology platform that would support our strategic objectives and business development plans,” said André Figuerola, Treasury Manager at BCP. “By implementing Calypso’s technology to support our front-to-back office processes, we are able to expand our business and proactively respond to the changing regulatory environment. Working closely with the Calypso team, we now have a solution that perfectly fits our needs. The Calypso system places our Treasury among the cutting edge of financial technological innovation, incorporating the latest technology and best practices.”

“We are very happy to announce our work with BCP, a leading institution in Latin America,” notes Charles Marston, CEO of Calypso. “This addition to our client base marks our continued success in the region. We are committed to supporting Latin American clients with an enhanced local product and convention coverage and we have definitive plans to expand our presence here.”

Calypso Technology Launches Real-time Collateral Optimization Solution

San Francisco, June 28, 2011 — Calypso Technology Inc., the premier global capital markets platform provider, today announced it has developed an innovative collateral optimization solution specifically designed to address major functional gaps in the industry. The new software product is among the first in the industry that directly responds to new challenges in collateral management driven by substantial shifts in the basis markets, regulatory requirements for OTC clearing and associated margins, improved counterparty risk management, more stringent liquidity control, and demand for greater visibility at an enterprise level.

“The Calypso solution truly solves the many dimensions of the collateral optimization puzzle, whether the requirement is short-term tactical or long-term strategic,” states Mr. David Little, director, strategy and business development at Calypso Technology.

A key component of the solution is a proprietary algorithm that allows users to intuitively manage the collateral allocation process. Firms can rapidly deploy optimization strategies by simply defining substitution rules, targets, constraints and real-time information governed by traders. Alternatively, users can plug in their own proprietary solvers. Key benefits include:

• Reduced costs for collateral management through improved decision-making


• New business opportunities; e.g. collateral processing services


• A global view of counterparty risk and operational efficiencies


• Enhanced reporting and control levels


• The front office can configure optimization algorithms and explore opportunities without any additional operational burden for the back office margin call process

The system provides clear overviews of positions, collateral requirements and allocations. Other functionalities such as the ability to analyse the cost of funding/collateral at the trade level and collateral netting enables businesses to reduce operational costs and to allocate associated transaction costs.

The solution is aimed at both buy and sell-side organizations that are looking to manage their collateral management more efficiently and in real-time. It is integrated with Calypso’s proven and leading trade management platform, and leverages Calypso Fast-Track for rapid deployment.

“Collateral management is now a very different game as businesses have become more focused on real-time collateral valuation and availability,” commented Mr. Little. “The collateral management team has become an integrated part of the front office team, driving business decisions that are made based on real-time market data. This allows the business to be responsive to changes in the market and adapt to new collateral requirements quickly. Calypso Technology has again delivered to the market an innovative solution that directly responds to the demands of a dynamic and structured OTC derivatives market landscape.”

Calypso Technology Releases v12

• Unprecedented Capital Markets Integration

San Francisco, May 05, 2011 — Calypso Technology Inc., the global capital markets platform provider, today announced the release of Calypso Version 12 of its cross-asset front-to-back office platform.

Calypso v12 is equipped for Dodd-Frank and other market structure changes that are demanding stronger control over trading and risk. It is a market-driven release designed to permit institutions to adapt to new requirements effectively and efficiently.

Over $40 million in R&D has been invested by the company over the past year to develop Calypso v12. Development of the world’s first cross-asset OTC derivatives central clearing solution - now live at exchange clearing houses in Europe, Asia and the Americas - has paved the way for Calypso’s continued capital markets leadership with Calypso V12.

The new release improves on best practice standards with stronger seamless integration across asset classes and between functional layers. It also builds on Calypso Technology’s growing status as a single-source-of-truth for capital markets firms seeking to consolidate previously siloed businesses.

“We’re starting to see real interest and demand in cross-asset-class trading and risk management systems in global capital markets driven by a multitude of factors. Cross-asset class functionality is not only a facility to capture transactions in different asset classes, but also includes the ability to provide integrated analyses - P&L, sensitivities, scenario analysis, stress testing - across all asset classes in an integrated, coherent manner," states Dushyant Shahrawat, CFA , Senior Research Director at TowerGroup, a Corporate Executive Board Company.

Calypso v12 is faster. Processing rates, data handling speeds and functional performance have been substantially increased through improvements and tuning of platform infrastructure. The result is significantly increased trading capacity and higher straight-through processing (STP) performance.

Calypso v12 is easier to deploy. Tangible gains in ease and speed of deployment have been achieved with automated configuration tools, improvements in implementation methodology and expansion of Calypso Fast-Track.

“Calypso’s job is to keep our customers in the lead. Calypso v12 is focused on doing just that.” says Charles Marston, CEO and Chairman of Calypso Technology. “We’re providing the best solutions for the intense challenges that our customers and the market are facing”.

Calypso Technology Wins Best Achievement in Derivatives Automation Award from Financial Technologies Forum

• Firm is recognized for innovation in derivatives automation and major breakthroughs made in central clearing initiatives

San Francisco, April 26, 2011 — Calypso Technology Inc., the global capital markets platform provider, today announced that Financial Technologies Forum, LLC (FTF) has named Calypso as winner of Derivatives Operations in the Best Achievement in Derivatives Automation category of its inaugural FTF News Technology Innovation Awards.

The awards program recognizes financial technology providers and thought leaders in the industry that have shown outstanding innovation in financial technology, particularly in the area of operations. Calypso was chosen as the top derivatives automation provider following a competitive voting process that was open to financial services firms, third parties and industry peers.

Over the last few years, Calypso has been first to market in bringing notable developments in OTC derivatives automation to the industry, including the Calypso OTC Clearing solution that enables clearing members to clear and process OTC derivatives products across numerous exchanges and clearinghouses. Calypso also powers the Central Counterparty Clearing platforms for some of the world’s largest derivatives clearing houses, including the CME, Singapore Stock Exchange and Eurex.

“The editorial team put a lot of careful thought and effort into considering nominations and into the final voting processes,” says FTF founder Maureen Lowe. “FTF always strives to address the central and most topical concerns of the financial technology industry and this is reflected in our events as well as in our online publication and awards. By setting an example, the nominees and winners are moving the industry forward and paving the way for a better future.”

Nominations were open to all eligible participants and were reviewed by an editorial team consisting of industry veteran Holly Miller, partner and co-founder of Stone House Consulting, Eugene Grygo, editor of FTF News and the FTF News editorial team. Award winners were announced at the FTF’s 4th Annual Hedge Fund Operations & Technology conference.

“We are delighted that Calypso has been recognized by FTF for derivatives automation. Since inception, Calypso has brought true innovation and cutting-edge technology to the derivatives industry and this award is a testament to that effort. As the derivatives market undergoes change with central clearing initiatives and swaps legislation, we continue to research and develop solutions to provide our clients with automation and efficiency,” comments Charles Marston, CEO of Calypso Technology.

About Financial Technologies Forum, LLC
Financial Technologies Forum, LLC (FTF) is a leading provider of executive-level events and training focused on trends and initiatives in securities trading and operations. Their global client base consists of senior level securities professionals from over 30 countries.

Their online newsletter offers a global interactive community where professionals can find original editorial content, daily news, in-depth analysis and industry research.

Their news content enhances their offering of events and training with timely coverage that reflects our market focus on clearing & settlement, corporate actions processing, risk management, performance measurement, reconciliation & exceptions management, regulation & compliance, derivatives operations, hedge fund operations and enterprise operations. For more information, visit www.ftfnews.com.

KB Kookmin Bank Goes Live with Calypso For Comprehensive Cross-Asset Support

San Francisco, April 04, 2011 — Calypso Technology Inc., the global capital markets platform provider, today announced that KB Kookmin Bank (KB), South Korea’s largest bank by asset value and market capitalization, has gone live with the Calypso system to support its Capital Markets business, including trading and risk management of derivatives, treasury, and collateral management.

KB was looking for a single cross-asset front- and middle-office platform to rationalize and standardize an existing complex and siloed infrastructure across multiple branches, which was making maintenance costly and labor-intensive. In an increasingly competitive environment, the bank needed to be able to manage trading, positions and risk across its complete range of treasury, cash and derivatives products on an integrated system to achieve enhanced transparency, efficiency and responsiveness. It was a further requirement that the system was expansive and scalable to support future growth.

KB’s vision to become a regional leader in derivatives moved them to select the Calypso system for its broad asset class coverage, robustness, and flexibility that will allow integration with its proprietary and third party data feeds and pricing models. The new capital markets platform from Calypso Technology supports increasing trade volumes and diversifying asset-classes.

Kim, Don Kyu, Deputy General Manager, KB Kookmin Bank, commented, “With Calypso Technology’s modern, flexible and scalable platform in place, we will be able to expand and grow into new and important areas of business. We now have a great opportunity to become a regional leader in derivatives, made possible due to Calypso Technology. We look forward to working with Calypso and are excited by the benefits that will immediately favour us.”

The functionalities of the Calypso system range from deal capture, desk-level risk and processing (trade lifecycle workflows) to position and risk analysis. With the new platform, a total of fourteen asset-classes will be covered such as FX cash and options, money market, fixed income, credit and interest derivatives, and collateral management.

“This project with KB Kookmin Bank, South Korea’s largest bank, further underscores Calypso Technology’s work in the East Asian markets and our expertise in cross-asset coverage, particularly branching into collateral management,” commented Charles Marston, CEO and chairman, Calypso Technology. “We are delighted to be working with KB Kookmin Bank and assisting them as their business develops.”

About KB Kookmin Bank
Kookmin Bank was incorporated in 1962 as Citizens National Bank (Kookmin is translated in English as Citizens National) as a government-owned commercial bank limited to providing banking services to private customers and to small- and medium-sized businesses. In 1995 the bank was privatized and changed its name to become Kookmin Bank. Meanwhile, the government's stake in the bank dropped to under 24 percent. Finally Kookmin merged with H&CB (Housing and Commercial Bank) in April 2001 to form the new KB, a powerhouse employing about 26,000 people and listed on the New York and Korea stock exchanges.

Today, in addition to its full range of consumer banking services, the bank provides corporate lending, investment services to its traditional small- and medium-sized business base, plus large-scale corporate clients.

Industrial Bank of Korea Goes Live with Calypso for Front Office Support

• South Korean Bank to use Calypso for developing and automating FX, credit and commodity derivatives business


• Calypso Fast-Track leveraged to reduce implementation timelines and costs

San Francisco, March 28, 2011 — Calypso Technology Inc., the global capital markets platform provider, announced today that Industrial Bank of Korea (IBK), the majority government-owned South Korean bank, has gone live with the Calypso system to support its front office functions. The software solution has been selected to provide the bank with the opportunity to develop their commodities and credit trading businesses and automate the processes on their FX derivatives desk, allowing them to enhance the overall scope of products offered to their client base.

IBK was seeking an open, scalable and flexible solution which would seamlessly integrate with existing in-house systems and support multiple asset classes for future growth and development. The system will help eliminate and streamline manual processes, reducing operational risks and addressing performance issues incumbent to an ageing infrastructure. The system will help achieve increased straight-through-processing (STP) from front-to-back. The Calypso Front Office solution delivers extensive functionality including pricing, trade capture, Calypso Workstation (one-stop shop for trading, cash positions, P&L modeling and simulation) and desk level market risk functionality incorporating historical VaR and stress testing scenarios.

Throughout the implementation process, Calypso’s rapid deployment solution, Calypso Fast-Track, was leveraged to deliver strong project methodology, providing business specifications, documentation, market-standard configurations, and local language training. Working alongside Korea-based consultant-partner NOA-ATS, Calypso ensured that the implementation was in a short timeframe of 6 months and on budget.

Dr. Hyung Seok Hahm, Trading Department & Project Initiator, IBK, commented, “Calypso Technology has delivered a flexible platform that brings performance and robustness to our existing FX derivatives desk, and that allows us to expand into new business areas, respectively credit and commodity derivatives. We have chosen the Calypso system among many solutions for a number of reasons. First, Calypso Technology is a market leader for credit derivatives. Secondly, they are able to provide first level support locally onsite. And the Calypso system also meets our requirement that the solution should be flexible and able to integrate our in-house pricing engines.”

“This project is a testimonial of Calypso Technology’s commitment to the East Asian markets and of our ability to provide services and local support,” added Charles Marston, CEO and chairman, Calypso Technology. “We look forward to working with IBK and assisting them as their business expands and diversifies.”

About Industrial Bank of Korea The Industrial Bank of Korea is a partially government-owned bank which focuses on supporting small & medium enterprise (SME) growth in Korea by offering them a broad range of services. IBK was established in 1961 and its primary objective is to promote independent economic activities of small and medium-sized enterprises (SMEs) and to enhance their economic position in the Korean economy. IBK also operates overseas through branches in UK, China, Hong Kong, USA, Japan, Vietnam and Russia.

About NOA-ATS NOA Advanced Technology Solutions has played major roles in many implementations of trading systems and treasury management systems for various Korean financial institutions. NOA has been closely working together with Calypso Technology, Inc. since 2004 as a local sales partner and a local support. The size of total assets managed by treasury systems NOA has delivered to its clients has reached 600 billion dollars as of 2009 and is growing fast as the clients grows its treasury businesses.

Calypso Technology Achieves Double Digit Growth and Profitability in 2010

• Firm continues strong global expansion in 2010
• Record revenues, staff increase, 30+ companies go live

San Francisco, March 23, 2011 — Calypso Technology Inc., the global capital markets platform provider, today announced double-digit growth and profitability in 2010, culminating in a decade of continuous revenue growth. The company accomplished several record-breaking achievements in 2010: adding 19 new customers, opening new offices in Russia and India, and experiencing double-digit increases in staff, revenue and profits. More than 30 Calypso customers around the globe went into production in 2010 on upgrades and new installations, attesting to the company’s ability to scale delivery of its highly effective implementation services.

New customers were spread across a diverse range of business verticals, including banks, exchanges, clearing houses, prime brokers, hedge funds, clearing members, asset managers, insurers, sovereign wealth funds and central banks. Increased demand for Calypso software and services has been driven by regulatory focus on central clearing for OTC derivatives, transfer pricing and improving counterparty credit risk management.

In its 2011 annual League Table, IBS Intelligence recognized Calypso Technology as the highest ranked solutions provider to treasury and capital markets. Overall, the company was ranked #4 in a survey that included more than 70 vendors to the wholesale and retail banking industries.

2010 saw continued steady global expansion, with total customers in emerging markets topping 30 countries, including China, Chile, India, Kenya, Nigeria, UAE, Poland and Turkey. The completeness of the Calypso system across all asset classes through all front-middle-back office functions has broad appeal to capital market participants in emerging markets who are seeking single platform solutions to support their existing businesses and future growth.

Charles Marston, CEO of Calypso Technology, commented, “We are extremely proud of our growth attained through responding and adapting to changing markets. We have proven to be ahead of the curve by developing new solutions closely aligned with priorities and goals of a diverse range of financial institutions.”

Calypso continues to dedicate substantial resources to customer support initiatives and product innovation, increasing staff numbers. Global expansion included opening new offices in Moscow and Chennai. Calypso now operates 14 offices globally, including San Francisco, London, New York, Paris, Frankfurt, Tokyo, Copenhagen, Sydney, Johannesburg, Hong Kong, Singapore and Mumbai.

Calypso Technology has earned status as the global leader in OTC financial derivatives clearing - a market that hardly existed two years ago - with 5 major exchanges and clearing houses as clients. Tokyo Stock Exchange Group (TSE), Asia’s largest exchange, selected Calypso in 2010 to run its new credit default swap (CDS) clearing service. Singapore Exchange went live in 2010, becoming Asia’s first central clearing service for OTC financial derivatives. Calypso’s innovation in creating a purpose-built solution for clearing houses was recognized with the Asia Risk Award for Technology Development of the Year. Calypso Technology further extended its lead in OTC Clearing with the launch of its new OTC Client Clearing product, enabling clearing members to rapidly integrate with multiple clearing houses globally and clear client accounts on a single platform.

“We are well-positioned to continue growing through 2011 and beyond.” Mr. Marston states, “Recruiting top talent remains a priority as we endeavor to maintain unparalleled levels of customer service and research and development in order to deliver solutions that best serve our customers’ needs.”

Calypso Appoints David Little to Head Securities Finance Division

• Mr. Little, formerly of Rule Financial, brings 20 years of IT development experience to Calypso

San Francisco, January 24, 2011 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, clearing houses and corporate treasuries, today announced that David Little has joined the company as Director of Strategy and Business Development. David will primarily be responsible for identifying new opportunities for development and growth in Securities Finance and Collateral Management for Calypso Technology.

Post credit crisis, there has been a focus on achieving more efficient use and better management of collateral, and greater coordination of securities lending activities with other financial transactions. Today, the market demands an integrated cross asset solution that manages cash and securities positions while also handling trading, risk and operations. Calypso has unique advantages in addressing this market due to its broad asset coverage, full front-to-back processing with advanced workflow and comprehensive risk management. David Little will drive innovation for Calypso’s securities finance solution, working closely with the company’s product managers and sales organization.

David Little brings over 20 years experience and expertise in IT development to Calypso Technology. He was previously a Partner at Rule Financial, a leading consultancy headquartered in London, where he founded, led and expanded the Securities Finance business unit. Before moving into financial technology in 1997, Mr. Little worked at ICL, where his projects included developing and implementing a secure Office Automation product for the Ministry of Defense in the UK. He began his career as a geophysicist working in oil exploration, where he gained experience in software engineering, as well as data acquisition and data processing techniques. Mr. Little is a graduate of the University of Exeter, from which he holds a BSc (Hons.) in Engineering Science.

David Little remarked, “I am very excited to bring my securities finance expertise to Calypso. With their first-class technology offering, Calypso is already one of the most well-known and trusted names in the industry, primed for continued growth. I am excited to come on board to work with the smart, dedicated and visionary people on the Calypso team.”

Kishore Bopardikar, President of Calypso said, “With his decades of experience and excellent reputation in the Securities Finance space, David is a tremendous asset for Calypso. We are truly delighted to have him join our organization.” Mr. Bopardikar continued, “Calypso is intensely committed to Securities Finance and bringing David on board will give us the competitive edge and business savvy to rapidly expand in that area.”

Calypso Technology Appoints Chris Zingo to Head Global Sales Efforts

New York, January 11, 2011 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, clearing houses and corporate treasuries, today announced the appointment of Chris Zingo as Senior Vice President of Sales. Chris brings with him a wealth of experience in sales at leading financial services solutions providers.

Chris joins Calypso Technology from SuperDerivatives where he was Senior Vice President of Sales & Support. While there, he was instrumental in the development of strategy, structure and talent in the Americas, facilitating a significant double-digit growth rate throughout his tenure. Prior to that, he was Managing Director of North American Sales at Thomson Reuters, where he was responsible for various senior management roles, including leading the Corporate Services Division to record growth in 2007, and integrating the institutional sales divisions into customer-centric verticals across Asset Management, Sales and Trading, Transaction Services, & Wealth Management. Chris joined Thomson Reuters from Bloomberg where as Vice President of Sales, he managed top-performing regional sales divisions.

As SVP of Sales, Chris will be responsible for the overall sales strategy for the company, managing the Regional Sales Managers in Europe, North America, and Asia-Pacific. He joins the company at an important and opportune time in the company’s growth. A major part of his role will be to develop and drive the strategy that will enable Calypso to continue, since inception, its consistent growth in revenue, customers and employees. To this end, his stated mandate will be to instill a culture of execution, learning and discipline that will enable the company to leverage its scale and depth across geographies. Chris will report directly to Calypso President Kishore Bopardikar.

“I’m excited to be joining Calypso,” comments Chris. “The firm has an impressive track record of success and I believe it is well positioned for deeper market penetration and growth. I’m looking forward to helping to expand our sales efforts across the globe, especially in new regions where there is an acute need for a solution like ours.”

Mr. Bopardikar says, “We have an aggressive and focused vision to be the provider of choice to the world’s leading financial institutions. Calypso delivers leading-edge technology, unparalleled support, and access to the market’s most experienced technology experts. As part of this goal, we’re committed to bringing on top talent and Chris is one of these people. He brings passion, dedication, and experience with him and we’re pleased to have him on board.”

CME Group Uses Calypso Technology’s Solution for Central Counterparty Clearing of OTC Derivatives

San Francisco, January 04, 2011 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, clearing houses and corporate treasuries, today announced that the CME Group is using the Calypso System to support OTC derivatives processing for clearing interest rate swaps.

On Oct 18th, 2010 the CME Group launched its OTC interest-rate swaps clearing solution. The Calypso Platform is one of the components of the CME Group’s new offering that allows members to clear OTC derivatives trades. CME Group has also implemented the Calypso system’s limits functionality, which enables the clearing members to control and manage intra-day risk.

Michael O’Connell, Managing Director CME Clearing Solutions comments, “We looked at a number of third-party solutions in the market, seeking out a partner that had deep expertise in the OTC derivatives markets. It was essential that the provider was one who could demonstrate an understanding of what we wanted to accomplish and a vision of how to realize our goals. Calypso’s support of our interest rate swap clearing solution enables us to continue to bring safety and soundness to the market.”

“Given the current regulatory initiatives designed to improve financial stability, we are going to see a fundamental shift in the OTC derivatives market toward the clearing of standardized OTC derivatives on exchanges. The establishment of CME Clearing’s new offering is an integral part of this evolution,” comments Charles Marston, CEO of Calypso Technology. “Our work with CME Group is a testament to our central role in this new era of OTC derivatives trading.”

Calypso Technology has also launched a solution for clearing member firms that facilitates automated trade connectivity with the clearinghouse, workflow management, reconciliation of a member’s positions with the clearinghouse, OTC derivatives valuation, as well as credit risk and collateral management to enhance straight-through-processing. It enables member firms to offer differentiated services to their clients. The Calypso system also replicates clearinghouse margin calculation methodology and performs what-if testing to evaluate the impact of margin on a trade prior to physical clearing.

Singapore Exchange successfully launches Asia’s first Central Clearing Service for OTC financial derivatives using Calypso

Singapore, November 24, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, clearing houses and corporate treasuries, announced that Singapore Exchange Limited (SGX) successfully launched its interest rate swaps (IRS) central counterparty (CCP) clearing service, on November 15th using the Calypso software solution. This is the first OTC financial derivatives central clearing service in Asia.

Mr Charles Marston, Chairman and CEO of Calypso Technology, said, “The partnership with SGX, a respected and innovative exchange, further underscores our deepening expertise in OTC derivatives central clearing. Through our work with SGX and other global exchanges, we continue to help bring central clearing services to financial markets around the world. We are delighted to be working with SGX and to be further expanding our presence in the APAC region.”

Mr Muthukrishnan Ramaswami, President of Singapore Exchange, added “We are pleased with Calypso Technology’s support; their active involvement in the project implementation saw the successful completion of this new service. We look forward to enhancing our relationship with Calypso Technology over the long term.”

About Singapore Exchange Limited
Singapore Exchange Limited (SGX) is Asia-Pacific's first demutualised and integrated securities and derivatives exchange. It was created in late 1999 by the merger of the Stock Exchange of Singapore (SES) and the Singapore International Monetary Exchange (SIMEX), and is component of the MSCI Singapore Free Index and Straits Times Index benchmarks. SGX is a leading regional innovator attracting international issuers and rapidly emerging as Asia's offshore risk management centre for international derivatives.

Calypso Technology offers OTC Clearing Service for Derivative Clearing Members

• Clearing Members can connect to multiple OTC Clearing Platforms
• Clearing Members can offer OTC Clearing services to their clients

San Francisco, October 27, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, today announced the launch of its new OTC Client Clearing Service for derivative clearing members (DCM).

The latest product development builds on the success of the Calypso System as a clearing platform implemented by a number of clearing houses for interest rate derivatives (IRD) and credit derivatives (CDS) clearing. The company is now offering a solution for clearing members to clear and process OTC derivatives on behalf of their house and clients accounts, across multiple clearing houses.

The product is Calypso's response to the challenges that clearing members face in quickly adapting to the new central counterparty (CCP) infrastructure brought on by the global regulatory push for central clearing of all standard OTC derivative contracts. The Calypso OTC Clearing Service provides support for all trade lifecycle events of a centrally cleared transaction including:

• Connectivity to clearing houses for trades and EOD market data and balances
• Reconciliation tool for validating data provided by each clearing house
• Functions and methodology to call or replicate clearing house margins
• Tools to create clearing member specific, margining rules for client collateral requirements, as well as tools to back test the validity of these margins
• Full books and records functionality for OTC client clearing

“Our OTC clearing infrastructure for member firms dramatically reduces the time and cost required to start clearing client trades on multiple central clearing platforms, and provides the tools for clearing members to deliver value added services,” states Amir Khwaja, Director of Risk Management, Calypso Technology. Automated matching of DCM’s books with the different clearing houses enhances straight-through-processing and it eliminates manual intervention, thus enabling firms to focus on customer services. The ability to replicate clearing house margins and to perform what-if testing to identify the impact of margin on a trade prior to physical clearing allows clients to make more informed decisions about the choice of the clearing venue.

Additionally, the system provides full back-office services such as settlement and accounting, collateral management and custodian services as well as reporting.

“Calypso Technology has pioneered technology for trading and processing of OTC Derivatives for many years,” states Khwaja. “With this new solution, we remain at the forefront of business change by offering our customers a solution to not only provide clearing services for all OTC contracts, but the tools that will allow them to generate additional value for their clients.”

Calypso Technology Wins the Asia Risk Award for Technology Development of the Year

• Leading vendor receives global recognition for responsive product
• OTC derivatives clearing solution developed alongside major clearing houses and exchanges

San Francisco, October 26, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, today announced it has won the Asia Risk Award for Technology Development of the Year with Calypso® Central Clearing, the firm’s market leading OTC derivatives clearing solution for clearing houses and exchanges. Following a lengthy and thorough interview process with clients and product developers, Calypso was selected by the publication for its innovative product and its capacity to respond quickly to new needs resulting from the regulatory changes.

In response to the challenges that market participants face in quickly adapting to the new central counterparty (CCP) infrastructure brought on by the global regulatory push for central clearing of all standard OTC derivative contracts, Calypso Technology worked closely with a number of clearing houses and exchanges to develop a software solution for central clearing and margining that matched their requirements. Core functionality of the Calypso® Central Clearing solution includes:

• Connectivity to trade affirmation platforms
• Clearing and settlement
• Margin calculations supporting multiple clearing house models
• Exchange-configured workflows
• Exchange-wide risk management
• Default management

The Calypso system has been recognised by Asia Risk for this innovation that leverages the company’s rich heritage around OTC derivatives management, modelling and processing.

The Calypso® Central Clearing product offering has been further extended to provide a solution for derivative clearing member firms. It offers one integrated solution for trade registration and management, margin calculation, credit limits, collateral management and client statements/reporting of client cleared transactions.

Sean McDermott, General Manager, APAC, Calypso, commented, “We are extremely proud to have won this award and to receive global recognition for our extensive and responsive work with the preeminent central clearing houses in the OTC derivatives product space. Calypso Technology has proven to be ahead of the curve, by designing and developing a solution that is closely aligned with the goals of financial institutions. We have already been adopted by five clearing houses and exchanges globally.”

Tokyo Stock Exchange and Japan Securities Clearing Corporation Select Calypso for CDS Clearing Service

• Calypso to manage clearing lifecycle for CDS
• Partnership brings improved transparency to OTC markets

Tokyo, October 25, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, announced today that Tokyo Stock Exchange Group (TSE), Asia’s largest exchange, has selected Calypso Technology to provide the platform for its new credit default swap (CDS) clearing service to be provided by Japan Securities Clearing Corporation (JSCC). Clearing CDS on the iTraxx Japan Index, the Calypso product will manage the lifecycle of the new clearing service for OTC CDS, as the TSE and JSCC address the market need for central counterparty clearing in Japan.

Responding to the financial crisis and the resulting global demand for risk reduction, improved transparency and operational efficiencies particularly in the OTC market, TSE and JSCC collaborated to develop a central clearing function for CDS in Japan. “Throughout the crisis, we saw increased demand from our clients for enhanced risk management capabilities and back office processing services such as settlement and payments,” comments Kei Miyazato, Head of IT Business Department, TSE. “Providing central counterparty clearing for CDS and CDS index in Japan is a much required service. Our vision is to provide a proficient, advanced market standard solution that would achieve the goal of reducing counterparty risk. In addition to Calypso Technology’s experience in successfully implementing central clearing services at other global exchanges, the firm’s market perspective and their industry know-how are important to our program.”

Leveraging the Calypso product’s configurable workflow and out-of-the-box functionality to achieve straight-through-processing, TSE will use the system throughout the full lifecycle of OTC CDS clearing: limits checking, trade matching, confirmation, messaging, margining, netting and settlement. “Calypso Technology’s ability to provide a flexible, purpose-built solution to clearing houses, while fully integrating with trade and confirmation platforms across multiple product lines, has made Japanese CDS central clearing service a reality,” comments Akio Yamashita, Head of Operation Planning, JSCC

TSE and JSCC also identified several key aspects of the Calypso platform which would deliver added value to the central clearing service. The Calypso platform offers interfaces with external trade infrastructure systems such as Mark-IT and DTCC. Furthermore, the firm can leverage the system’s award-winning back-office and comprehensive functionality, including historical VaR, cash positions, reporting, Credit Event Processing and Trade Lifecycle Processing.

Charles Marston, Chairman & CEO, Calypso Technology, comments, “This joint work between a respected and instrumental exchange and forward-looking securities clearing organization further emphasizes our applied expertise in OTC derivatives central clearing and the significant in-roads we have made in APAC. Through our work with TSE and other global exchanges, we continue to facilitate central clearing services to financial markets around the world. We are delighted to be selected by TSE and look forward to working with them as this historical landmark project progresses.”

About Tokyo Stock Exchange Group (TSE)
Established in 1949, the Tokyo Stock Exchange, Inc. is the largest stock exchange in Asia and the second largest in the world by aggregate market capitalization of its listed companies.

The Tokyo Stock Exchange Group, Inc is comprised of several subsidiaries including Tokyo Stock Exchange, Inc., Japan Securities Clearing Corporation (JSCC) and Tosho System Service Co., Ltd(TSS), TSE IT subsidiary.

About Japan Securities Clearing Corporation (JSCC)
Japan Securities Clearing Corporation (JSCC) was established in July 2002 as the first cross-market clearing organization in the Japanese securities market by Tokyo Stock Exchange, Osaka Securities Exchange, Nagoya Stock Exchange, Sapporo Securities Exchange, Fukuoka Stock Exchange and Japan Securities Dealers Association. In January 2003, JSCC was licensed as the first clearing organization in Japan to conduct the Securities Obligation Assumption business (now called Financial Instruments Obligation Assumption business) under the Securities and Exchange Law (now called Financial Instruments and Exchange Law).

JSCC unified clearing functions provided by each market until 2003 and realized improvement in the service level for customers with robust and efficient operation. From the inception, JSCC has been putting utmost priority on our risk management system to ensure safety in clearing and settlement process for domestic and global investment communities.

As it is now, Japan Securities Clearing Corporation (JSCC) provides the clearing services for all cash transactions executed at any of the domestic stock exchanges and three PTSs (proprietary trading system) in Japan, as well as futures and options transactions executed at the Tokyo Stock Exchange, Inc.

Hong Kong Monetary Authority Signs Calypso for Trading and Treasury Management

San Francisco, August 25, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, announced today that the Hong Kong Monetary Authority (HKMA), the government authority responsible for maintaining monetary and banking stability in Hong Kong, has selected the Calypso system as its full front-to-back trading and treasury management solution for processing multiple asset classes and to ensure that the Hong Kong’s reserves are managed more competitively and efficiently. The solution has been selected to provide the HKMA with the opportunity to invest in and trade across a broad range of asset classes and financial instruments, while simultaneously providing best-in-class risk management controls which will identify, monitor and manage the underlying risks in real-time.

Following an extensive evaluation process, the HKMA has selected the Calypso system as its full front-to-back trading and treasury management solution for processing multiple asset classes. Calypso’s platform will leverage functionality for a variety of front-to-back office tasks including pricing, valuation, risk management, enterprise risk, cash management, compliance, settlement and accounting.

Calypso Users Highlight Vendor Ownership of Implementation as a Critical Success Factor

• 2010 Calypso User Survey reveals implementation quality and cost control as top success factors for projects

San Francisco, August 16, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, unveiled the results of the 2010 Calypso User Survey conducted at the global customer conference in San Francisco in May. Results highlighted that firms want vendor responsibility and involvement throughout the deployment process in order to manage implementation quality and costs.

Delegates representing Calypso’s 100+ customers from leading financial institutions around the globe met in May to discuss market trends as well as how the Calypso platform addresses these trends -- through its support of trading, risk management and processing for a broad array of asset classes on a single integrated platform.

In the annual Calypso User Survey conducted during the conference, respondents indicated that vendor ownership of implementation projects was the most important factor in project success compared to the availability of implementation partners and other services. “Given current economic conditions, firms buying IT are becoming more vigilant in requiring vendors to share implementation risks,” states Kishore Bopardikar, President of Calypso Technology. “Customers want to see highly skilled vendor teams involved in the project, and not responsibility delegated to just any third-party implementation shop.”

“The results confirmed our understanding of clients’ priorities when it comes to technology projects,” continued Bopardikar. “Under the old model, customers went directly to partners for their implementation services. In the new approach, we provide customers with the reliability and predictability that they want through a managed program that combines our experts with trained partner resources. As a result, more projects of varying sizes and complexity are completed on time and on budget.”

Using the new partnering approach, Calypso has enabled more than 30 customers from around the globe from five continents to go into production or upgrade during the 2009 calendar year. This is expected to grow 15% in 2010. “In order for clients to upgrade or expand their relationships with their technology vendor, you need to foster trust: trust in your product quality and in your professional services staff to guide them through the implementation,” states Mr. Bopardikar.

Banco Espirito Santo Selects Calypso Technology for Front Office Derivatives Trading

• Leading Portuguese bank to use the Calypso trading solution for FX, Interest Rate, Credit, Equity and Commodity derivatives
• New contract signed following successful back office implementation

San Francisco, July 06, 2010 — Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, today announced that Banco Espirito Santo SA (BES), an international Portugal-based commercial bank, has selected Calypso Technology’s front office module to support their trading of a wide range of financial derivatives following a successful implementation of the Calypso back office solution for the bank’s FX business.

By selecting the Calypso system, BES will have a platform that will enable the bank to multiply its business capacity by offering services across multiple asset classes. The Calypso system will support the bank’s trading of cross-derivative products, including interest rate, credit, equity, FX and commodity derivatives from an integrated trading, risk management and processing platform. The Calypso system provides out-of-the-box interfacing with price information from Reuters foundation API, Bloomberg data license, Markit reference IDs and asset pricing service, as well as the DTCC.

Pedro Cruchinho, Financial Markets Senior Manager at BES, explains, “We were looking for a system that would enable us to maintain innovation, improve customer service and increase profitability. It was also important that the solution could be rolled out across numerous geographical locations that are connected and managed from our current central production environment. The relationship that we have formed with Calypso Technology affirms our strong brand image by forming an alliance with a premier partner, and will enable us to grow, expand geographically and achieve cost savings through consolidation of our system infrastructure”, he continued.

The bank is already deploying the Calypso system for back office processing and accounting for FX Spot, FX swaps, FX Forwards and non-deliverable forwards (NDF). BES is planning to add more asset classes to the Calypso back office platform later this year, with Money Markets being the first priority.

“We are extremely pleased to be working with BES, and the selection of Calypso’s front and back office modules by BES demonstrates our continued success in Southern Europe,” comments Charles Marston, CEO and chairman, Calypso Technology. “We are committed to supporting institutions that wish to sustain growth and develop both regionally and globally. We look forward to expanding our business in the region.”

About Banco Espirito Santo SA (BES)
Banco Espírito Santo SA (BES) is a Portugal-based commercial bank. Together with its subsidiaries, the Bank provides a range of financial products and services, including credit and debit cards, loans, asset management, brokerage, investment and insurance. It operates through a network of 743 branches, 29 Private Banking Centers and 28 Corporate Centers. The Bank operates internationally in Angola, Brazil, France, Germany, Spain and the United States, among others.

Calypso Technology Partners with CPqD to Expand Distribution of Calypso Products and Services in Latin America

San Francisco, June 10, 2010 — Calypso Technology Inc, a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, today announced that it has entered into a Value Added Reseller (VAR) agreement with Fundação Centro de Pesquisa e Desenvolvimento em Telecomunicações (CPqD) to enhance the Calypso product and services offering in Latin America. Under the arrangement, CPqD will become Calypso Technology’s partner in Brazil, expanding on Calypso’s current marketing and distribution capabilities in the region.

The relationship with CPqD is an important part of Calypso Technology’s continued expansion in the Latin American market. Last year, Calypso Technology entered into an alliance arrangement with CPQi, an integration services company, to deliver implementation and related services across the continent.

The Calypso Trading and Risk Management Platform is the industry’s first integrated application suite designed from the outset to be a front-to-back office, cross-asset platform for derivative and treasury products. Global financial institutions, including banks and asset management firms, use Calypso to improve financial innovation and capitalize on ever-changing market opportunities. Calypso provides an open, modern platform that adapts to customer needs today and in the future.

“While we have an established customer base in Brazil, our partnership with CPqD enables us to further penetrate the Brazilian market,” states Carlos Patiño, Director, Business Development - Latin America, who is leading Calypso Technology’s commercial initiatives in that region.

“We are delighted to partner with CPqD. Their deep technological, financial and legislative knowledge, coupled with an extensive network in capital markets, will significantly accelerate our business development efforts in Brazil,” states Charles Marston, Chairman and CEO of Calypso Technology.

“We’re very excited to partner with Calypso Technology. Their leading global software for managing derivatives and treasury products will complement the CPqD portfolio in the financial sector,” adds Claudio Violato, CPqD Technology Vice-President. “Today, the Brazilian capital market is one of the fastest growing capital market regions in the world, and its participants require advanced trading and risk management systems such as the Calypso system to keep pace with the dramatic change and growth.”

About CPqD
CPqD is an independent institution focused on Information and Communication Technologies (ICT) innovation. The solutions developed by CPqD are used in Brazil by the leading telecommunications service providers, financial companies, energy corporations, industrial and manufacturing companies and government agencies. With 34 years of experience, CPqD employs more than 1,200 highly qualified and creative professionals, who are committed to quality and excellence. Today, CPqD develops the largest R&D program in Latin America, contributing to the Brazil’s socio-economic development and competitiveness and digital inclusion of the Brazilian society, and also delivering on the market technology products, mission-critical systems, and technological and consulting services.