Calypso V13 Empowers Capital Markets Firms to Efficiently Launch OTC Clearing and Collateral Services

• Addresses Latest Derivatives Regulatory Reform and Market Standard Practices

San Francisco, May 17, 2012 — Calypso Technology, Inc., the global capital markets platform provider, today announced the release of Calypso V13. The latest version builds on the market leading cross-asset processing platform, aimed at helping customers take advantage of opportunities created by the new OTC market structure in Clearing and Collateral Management services.

Used by the majority of the world’s central counterparties (CCPs) as core clearing infrastructure, Calypso Technology continues to advance its OTC clearing solution for all participants along the capital markets value chain. Calypso V13 enables clearing member organizations to rapidly deploy comprehensive House and Client Clearing services for interest rates/credit derivatives and FX products with initial/variable margin calculations across multiple clearinghouses, integrated collateral management and treasury and liquidity services.

“Calypso is leading the charge in helping customers capitalize on the opportunities and manage the complexities of the new OTC derivatives marketplace,” states Kishore Bopardikar, CEO and President of Calypso Technology. “We are helping capital market firms address new front office, operations and connectivity issues associated with the new OTC landscape, while managing margin compressions and capital costs across business lines.”

According to TABB Group, nearly $2 trillion in additional collateral may need to be posted to comply with proposed central clearing margin requirements, placing a tremendous strain on bank balance sheets. “Centrally-cleared derivatives will turn the back office from a cost center to a critical tool for efficient allocation of capital,” according to Adam Sussman, Partner and Research Director at the Tabb Group in his recent publication, Reinventing Capital Markets Infrastructure. “Firms realize that a more automated and real-time clearing workflow will allow them to deploy shrinking amounts of capital more intelligently,” continued Sussman.

Calypso V13 also delivers a variety of enhancements designed to meet the analytical and workflow requirements of OTC derivatives front office operations that has been re-defined by recent market structure changes. Calypso V13 provides the latest curve generation methodology, new integrated cross-asset pricing and market data management capabilities, as well as real-time analytical reporting tools.

Pierpont Derivatives LLC Launches Swaps Trading Business Using the Calypso System

• Independent broker-dealer to use Calypso System as core engine for new interest rates swaps trading subsidiary

San Francisco, CA – April 10, 2012 – Calypso Technology, Inc., the global capital markets platform provider, today announced that Pierpont Derivatives LLC (“Pierpont Derivatives”) has gone live with the Calypso System to support the launch of a new swaps trading business. The firm’s trading desk is using the platform for trade pricing and capture, consolidated P&L and risk management for interest rate swaps, futures and treasuries.

Pierpont Derivatives is a wholly-owned subsidiary of Pierpont Securities Holdings LLC, which is the sole owner of Pierpont Securities LLC, an SEC-registered broker-dealer providing institutional clients with liquidity, execution services and strategic advice pertaining to the US Treasury, federal agency and repurchase markets. Prior to the launch of its interest rate swaps trading business, Pierpont Derivatives was seeking a robust technology solution that would allow it to go to market quickly. After a thorough selection process, Pierpont Derivatives selected the Calypso System based on its advanced front-office functionality for OTC derivatives and other capital market products as well as its central clearing capabilities and seamless integration with swaps market participants.

Commenting on the selection of the Calypso System, Akshay Das, Managing Director and Head of Derivatives at Pierpont Derivatives, notes, “Speed to market was absolutely crucial due to how quickly the swaps market is changing. We needed an innovative technology solution that could comprehensively support the launch of our new business – as well as allow us to enter new derivatives trading markets in the future. Calypso was the obvious choice. The Calypso team delivered the expertise and flexibility to quickly get us up and running with the specific capabilities we needed.” Pierpont Derivatives benefits from Calypso’s core OTC derivatives valuation support and flexibility, especially as Pierpont Derivatives continues to build out its proprietary models and to enhance its capabilities with value-added, customized features.

The post-crisis changes in the swaps market include a major industry shift in interest rates swaps pricing, including a move to OIS discounting from LIBOR discounting. Meeting Pierpont Derivatives’ rigorous requirements, the Calypso System provides Pierpont Derivatives with robust curve construction capabilities to ensure the firm is utilizing the most current valuation techniques.

Furthermore, the Calypso System is the leading solution for firms seeking to meet the needs of the newly mandated central clearing of OTC interest rate swaps. The Calypso System has enabled Pierpont Derivatives to clear, directly and centrally, its interest rate swaps through its clearing broker, or futures commission merchant, on CME Clearport and the SwapClear platform of LCH.Clearnet through a MarkitWire interface.

“The swaps market is truly undergoing a revolutionary change,” comments Charles Marston, CEO of Calypso Technology. “We’re pleased to be working with Pierpont Derivatives in preparing them for and allowing them to launch a new business in light of this fundamental industry overhaul. The ease in which Pierpont Derivatives has gone to market reflects our commitment to seamless implementation and innovation in technology. We take pride in our central role in the OTC derivatives clearing ecosystem and we look forward to our continued expansion in this space.”

About Pierpont Derivatives, LLC.
Organized in 2011, Pierpont Derivatives LLC is a wholly-owned subsidiary of Pierpont Securities Holdings LLC and an affiliate of Pierpont Securities LLC, which is an independent, SEC-registered broker-dealer. Pierpont Derivatives is actively trading interest rate swaps and clearing through SwapClear of LCH.Clearnet and through the CME Group. Pierpont Securities provides institutional clients liquidity, execution and strategic advice in connection with fixed-income products, including US Treasury and Agency securities as well as repo and alternative financing products. Pierpont Derivatives clears its trading of fixed-income products (other than interest rate swaps) through Pierpont Securities.

Calypso Technology Tops $200 Million in Revenue in 2011

• Achieves Major Milestone with Record Revenues and Growth

San Francisco, March 28, 2012 — Calypso Technology, Inc., the global capital markets platform provider, announced today that it has exceeded $200 million in revenues for 2011. “This is a significant milestone in the company’s growth trajectory,” stated Kishore Bopardikar, President and CEO of Calypso Technology. Achieving revenue CAGR of more than 40% over a ten-year period, Calypso continues to gain market share. In 2011, Calypso added 20 new clients, representing a diverse range of banks, insurers, asset managers, hedge funds and exchanges.

Mr. Bopardikar adds, “Calypso is in a firm position to continue expanding its market share given current momentum and ability to deliver quality solutions for the environment of regulatory change, drive for operating efficiency and growth in emerging market economies.”

Frost Bank Goes Live on Calypso

• Rapid successful implementation leveraging Calypso Fast-Track

San Francisco, CA – 6 March, 2012 — Calypso Technology Inc., the global capital markets platform provider, announced that Texas-based Frost Bank (Frost) has implemented the Calypso software solution to support the firm’s growing financial derivatives business. Installation of the Calypso solution to support interest rate derivatives processing was completed in less than four months. Future plans include extending the system to manage the trading and processing of various instruments including commodities and foreign exchange, front-to-back office.

Through increased process automation, streamlined end-of-day processing and consolidated risk reporting, the Calypso system will enable Frost to reduce operational risk and improve efficiency. This will allow Frost to expand their product offering and build market share across its broad range of sophisticated financial services. Frost is primarily engaged in the business of commercial and consumer banking through more than 115 financial centers across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio regions.

“Frost selected Calypso after a careful evaluation based on its scalable, multi-asset platform and successful software implementations with other Calypso customers,” said Kyle Woodland, Frost Capital Markets. “Furthermore, Calypso’s Fast-Track solution for implementation allowed us to quickly install the Calypso software on time and keep expenses within our budget.”

“We are excited to work with Frost," said Charles Marston, CEO of Calypso Technology. "This implementation is further testament to the functionality and scalability of our system to meet the growth and efficiency objectives for a wide range of financial institutions from regional banks to global money center operations.”

BNP Paribas Securities Services Selects Calypso for OTC Valuation Services

• Calypso’s reputable capabilities and flexibility makes them first choice for BNP Paribas Securities Services’ Valuation Services and OTC Credit Derivatives

San Francisco, February 29, 2012 — Calypso Technology, Inc., the global capital markets platform provider, today announced that BNP Paribas Securities Services (BNP Paribas), a leading global custodian and securities services provider and subsidiary of the BNP Paribas Group, has selected Calypso to support its enhanced global OTC Valuation Services.

The Calypso software will help BNP Paribas meet the complex challenges faced by the custodian’s clients by providing an innovative, cost efficient and replicable infrastructure. The cross-asset solution will enable BNP Paribas to provide more robust OTC valuation services for its clients as well as open up opportunities in new market segments in a highly competitive market.

Dominique Sauvage, BNP Paribas Securities Services’ head of Market and Financing Services’ IT, said that the selection process was relatively simple: “We needed a single solution that would support our capacity to accelerate business growth with ease of implementation. Calypso’s flexibility, simple user interface and comprehensive deployment capabilities were important to our decision. In addition, we were reassured by their team’s expertise and experience in enabling other global institutions to launch and enhance OTC derivatives valuation services.”

BNP Paribas will deploy the software in Europe with a view to eventually extending it to its other global hubs. The software will help the custody bank to service its extensive global client base in more than 100 countries.

Charles Marston, CEO of Calypso Technology, commented, “Calypso has always been driven to enable our customers to open up new channels to their markets through our world-class solutions. We are excited to be working with BNP Paribas Securities Services. We look forward to supporting and driving the evolution of their services and supporting their continuing innovation.”

Calypso Technology Ranks #1 in System Implementation Efficiency in 2011 Risk Magazine Technology Rankings

San Francisco, February 21, 2012 — Calypso Technology, Inc., the global capital markets platform provider, today announced that it has won first place in the Risk Magazine Technology Awards 2011 for System Implementation Efficiency. The rankings reflect the outcome of a Risk Magazine poll of thousands of banks, hedge funds, pension firms, insurance companies and corporate treasuries on leading risk technology providers.

More than 35 Calypso customers underwent implementations in 2011, either going into production or upgraded. "We are pleased that our implementation efficiency was highlighted in this year’s Risk Technology Rankings," states Kishore Bopardikar, President and CEO of Calypso. "Providing our clients with fast time-to-market has always been a top priority," he explains. “This accomplishment is an affirmation of the maturity of our delivery model.”

Calypso Technology is a recognized leader in enabling customer success. In 2007, the company introduced Calypso Fast-Track, a rapid deployment solution that accelerates delivery, maximizes quality, and reduces project risk during the implementation cycle. While each customer implementation has unique characteristics and value-add customizations, Calypso Fast-Track leverages use of industry standard practices and out-of-the-box pre-configurations for various industries to accelerate deployment.

"Cost reduction is a major focus for clients today," continues Mr. Bopardikar. "Timely delivery and greater efficiency are key to achieving this goal. As our clients strive to improve their businesses, we are committed to enabling them. Our implementation efficiency is a cornerstone of their success - we remain focused on continuously improving and streamlining the delivery process."

BTG Pactual Signs with Calypso Technology for OTC Derivatives and Securities Support

• Leading Brazilian investment bank chooses Calypso for Cross Asset Coverage


• Marks Calypso’s continued expansion in Latin America

San Francisco, CA, December 7, 2011 – Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, announced today that the firm has signed with BTG Pactual, Brazil’s leading investment bank. The Calypso system will support their full range of portfolio assets including OTC derivatives and securities.

BTG Pactual was seeking a solution that would allow the firm to continue expanding its investment banking market share and scale with escalating trade volumes. The bank conducted an extensive review of several cross-asset trading technology platforms and chose Calypso Technology due to the firm’s deep expertise and platform extensibility. Using Calypso, the firm will consolidate several internally-developed systems covering multiple asset classes onto a single platform that can be configured to handle Brazilian conventions and rules, in addition to their international portfolio.

“At BTG Pactual we prefer to work with market leaders and we see Calypso as the leader in this sector,” comments Clecio Lima, BTG Pactual partner and CIO. “Calypso Technology is a strategic partner who brings both the sophisticated technology and invaluable consultation we were looking for.”

In the first phase, BTG Pactual will implement Calypso’s back-office system for interest rate and equity derivatives products across the firm’s global operations.

“We are delighted to be working with BTG Pactual,” notes Carlos Patiño, Director, Business Development - Latin America, who is leading Calypso Technology’s commercial initiatives in the region. “Latin America is an emerging hotbed of trading activity and we’re pleased to continue our expansion in this region.”

“BTG Pactual is a notable market maker for structured products and a true global innovator. We look forward to helping the bank achieve its growth objectives,” states Charles Marston, CEO of Calypso Technology.

About BTG Pactual:

• Leading Investment Bank in Brazil in equity issuances (IPOs and Follow-Ons, Dealogic since 2004), M&A deals (Thomson Reuters, 2011) and local debt issuances (Anbima, 2010).


• Voted Best Brazilian Investment Bank by Latin Finance and Global Finance. Voted Brazilian Equity House of the Year by Euromoney and Latin Finance.


• One of the leading emerging market-based asset managers, with over US$ 61bn under management and/or administration.


• Voted best fund manager in Brazil by Exame magazine and Fundação Getúlio Vargas (FGV).


• One of the main private wealth managers in Brazil, with US$ 21bn in assets under management.


• Presence in Brazil (São Paulo, Rio de Janeiro, Recife, Belo Horizonte and Porto Alegre), the US (New York), the UK (London) and China (Hong Kong).


• Over 28 years experience in the Brazilian and international markets.


• Approximately 1.300 employees.

Calypso Technology Wins Multiple Awards for Innovation in Technology

• Calypso product showcases market leadership by winning two Technological Innovation awards in prestigious industry award ceremonies

San Francisco, December 06, 2011 — Calypso Technology Inc., the global capital markets platform provider, today announced that they are the winners of the Securities Lending Industry Award as well as the Best Innovation by an IT or Software Firm in Risk Management for Clearing Services. Calypso accepted both awards at ceremonies held in London earlier this month.

The first category was‘Technological Innovation’, granted for the firm’s Collateral Optimization solution in the 2011 Securities Lending Industry Awards, managed and hosted by Fundamentals Magazine. The panel of judges, consisting of industry practitioners, recognized Calypso’s year-on-year global achievements in the collateral space and awarded Calypso Technology for its contribution to industry innovation, over eight other nominees. This win follows on Calypso’s recent success in Gartner’s Magic Quadrant survey, which placed Calypso in the “Leaders” quadrant of Gartner’s inaugural Magic Quadrant for Treasury and Trading Core Systems.

The second award, presented by Futures and Options World (FOW) at their Derivatives World Event in London, was ‘Best innovation by an IT or software firm in Risk Management – Clearing Services’ for Calypso’s OTC Clearing Services for Derivative Clearing Member Firms (DCMs) solution. Designed for members of various exchanges, this technology plays a critical role in the clearing process as the key agent for banks and other financial institutions making OTC trades, supporting all trade lifecycle events of a centrally cleared OTC transaction.

A group of industry experts acted as judges for this award, selecting Calypso from a mass of entries from various industry peers. With a commitment to innovation since inception, Calypso has pioneered derivatives technology by introducing ground-breaking solutions to advance the trading and processing of the world’s most complex securities instruments, and through this breakthrough technology, global financial institutions have been able to achieve STP, efficiency, and accuracy in derivatives trading.

Calypso’s CEO, Charles Marston, commented, “We are extremely pleased to be receiving this recognition as leaders and innovators in the Clearing and Collateral Management spaces. Over the years, we have worked hard to gain a deeper understanding of the financial community’s needs and through this, we have been able to develop and deliver world-class solutions to many of the industry’s leading financial institutions. Winning these esteemed awards is validation of our strong product solutions and the tight collaboration to get it to market further showcases our expertise and commitment to deliver in these domains.”

BM&FBOVESPA selects Calypso to register and manage OTC operations

• New Calypso platform is one of the world’s most complete OTC derivatives solutions

San Francisco, CA - November 16, 2011 - Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, announced today that BM&FBOVESPA, the largest financial exchange in Latin America, has selected the Calypso System to register and manage OTC derivatives operations.

The Exchange licensed the Calypso platform after conducting an intensive Proof of Concept (POC) evaluation at its data processing center in Brazil, which confirmed that the Calypso System is among the most flexible and complete in the world for the registration, pricing, risk assessment and lifecycle management of OTC derivatives and cash products.

In Brazil, OTC trades are required to be officially registered so that the national securities regulator and financial system have absolute transparency into overall derivatives exposure on a market-wide basis and the ability to track the intraday mark-to-market value of each OTC trade. The Calypso System will be implemented to provide valuation for a wide array of OTC derivatives to ensure that each trade meets the predefined parameters set by BM&FBOVESPA.

“With the Calypso platform, BM&FBOVESPA intends to modernize, enhance and expand its OTC operations registration service, offering quality and agility to its customers, and complete analysis instruments for self-regulation and regulatory activities,” said Marcelo Maziero, Chief Products and Customers Officer of BM&FBOVESPA.

BM&FBOVESPA and Calypso Technology will conclude implementation of Phase One of the platform in 2012, which will allow for the registration of contracts from banks with their non-financial customers as counterparties. The implementation of Phase Two - for registration of contracts from the other counterparties - is forecast to be completed in the first quarter of 2013. Phase Three will provide collateral management services for bilateral risk mitigation with an implementation date to be announced in the future.

"We are extremely excited to count BM&FBOVESPA as a customer. Calypso Technology is deeply committed to the Latin American market and we look forward to working with BM&FBOVESPA to develop the future market structure for OTC derivatives and other products in Brazil," states Charles Marston, Chairman and CEO of Calypso Technology.

About BM&FBOVESPA
BM&FBOVESPA S.A. - The Brazilian Securities, Commodities and Futures Exchange was created in 2008 with the integration between the Brazilian Mercantile & Futures Exchange (BM&F) and the São Paulo Stock Exchange (Bovespa). Together, the companies have created one of the largest listed exchange groups in the world, the second in the Americas, and the leading exchange in Latin America. The Exchange features a vertically integrated business model, with trading, registration, netting, settlement, risk management, market data, and central securities depository services. BM&FBOVESPA’s state-of-the-art technological resources provide investors with an efficient and secure trading and post-trading environment. Among its broad range of trading products, the Brazilian Exchange offers equities, securities, financial assets, indices, interest rates, agricultural commodities, as well as foreign exchange futures and spot contracts, and acts as a central counterparty for all of its market segment through its clearinghouses - equity, derivatives, foreign exchange, and securities.

Calypso Positioned in 'Leaders' Magic Quadrant for Treasury and Trading Core Systems

• Evaluation based on Completeness of Vision and Ability to Execute Platform delivers rapid implementation and strong risk management
  

SAN FRANCISCO, USA, November 7th 2011 – Calypso Technology Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, today announced that leading analyst group Gartner Inc. has placed Calypso in the “Leaders” quadrant of their inaugural Magic Quadrant for Treasury and Trading Core Systems.* The Gartner Magic Quadrant is a qualitative evaluation of a set of vendors in a specific market based on 'Completeness of Vision' and 'Ability to Execute'.

“Economic challenges are driving the rationalization of application portfolios and causing financial institutions to look carefully at their core system strategies, with the intent of trying to better align business focus with application appropriateness,” the report states.

"The advantages of minimizing the number of solutions across treasury and trading market functions go beyond the cost benefits of reducing the need for cross-platform integration and maintaining skills bases across multiple solutions," states the Gartner report. "Gains in straight-through processing (STP) can also enable traders and risk managers to more quickly identify opportunities and threats - a competitive advantage in fast-moving and volatile markets."

As part of its core treasury and trading capabilities, Calypso brings several key strengths, including rapid implementation, strong desk-level risk management, strategic alliances, vendor viability and organic growth. Demonstrating growth and innovation, Calypso has taken the global lead in responding to changes in OTC derivatives market structure over the past two years. Four leading exchanges are in production with Calypso for OTC derivatives clearing and several clearing member firms are using the system to provide client clearing services.

The Calypso vision is centered around providing a single integral capital markets platform to support all market participants - sell-side, buy-side and service providers. Calypso’s positioning in the "Leaders" quadrant is reinforced by the IBS Sales League Table 2011 that shows Calypso gaining new name customers at a ratio of almost 3 to 1 compared with its nearest competitor.

“Being positioned as a Leader in the Gartner Magic Quadrant is a tremendous achievement for Calypso." said Charles Marston, CEO and Chairman of Calypso Technology. “Gartner employs a rigorous and exhaustive process that scrutinizes all facets of the business. We welcome this independent assessment of Calypso’s strategic positioning and ability to deliver."

"Innovation is in our DNA. It drives everything we do," said Marston. "Our vision and strong organic growth are driven by close collaboration with clients and a commitment to research and development. Global markets are shifting as turbulence in Europe and a continued recession place pressures on all financial institutions to better manage collateral, liquidity, risk, operational costs and future growth. Our rate of product innovation enables us to solve these customer challenges faster, better and more cost-effectively. We look forward to helping more institutions address their challenges head-on.”

*Gartner, Inc., Magic Quadrant for Treasury and Trading Core Systems, D. Furlonger, D. McKibben, November 1, 2011.

About the Magic Quadrant
Gartner does not endorse any vendor, product or service depicted in our research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.

Calypso Technology Appoints Denise Pierre as Senior Vice President of Human Resources

San Francisco, CA, November 2, 2011 – Calypso Technology, Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions and corporate treasuries, today announces the appointment of Denise Pierre as Senior Vice President of Human Resources (HR). Denise brings with her over 21 years of HR experience in the global technology industry.

In her new role, Denise has global responsibility for all strategic and operational aspects of the human resources function including organizational design, change management, talent acquisition, staffing, succession planning, performance management, compensation and benefits, employee relations and legal compliance.

Denise joins at a critical time in Calypso’s growth. She will be tasked to implement an HR strategy that will enable the company to achieve its aggressive growth targets. To this end, Denise will be responsible for instilling the appropriate disciplines, best practices and organizational structure required.

"In large part, Calypso’s growth can be attributed to the talent of our people – we’ve always been committed to bring on the best and the brightest in the financial technology industry. Denise will be instrumental in helping us to accelerate our organization’s growth and scale in order to serve diverse markets and geographies," states Kishore Bopardikar, President of Calypso Technology. “We are excited to have Denise join our leadership and our company.”

Prior to joining Calypso, Denise was Vice President of HR at Veraz Networks, where she was fully responsible for leading global strategic and operational HR activities.

Prior to that, she was Vice President of HR at Teralogic Inc., where she was responsible for all strategic growth initiatives and Global HR management for the privately held company.

Denise states, “I am excited to join Calypso. I truly believe that the company has a unique value proposition and a state-of-the-art solution. I’m looking forward to contributing my experience and expertise on people and organizational issues as well as providing guidance on managing complex employee relations.”

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.”