Calypso Technology Offers OTC Clearing Service for Derivative Clearing Members
Poster: SySAdmin
Posted on October 27, 2010 at 7:56:01 AM
Calypso Technology Offers OTC Clearing Service for Derivative Clearing Members
SAN FRANCISCO, October 27, 2010/PRNewswire/ --
- Clearing Members can Connect to Multiple OTC Clearing Platforms
- Clearing Members can Offer OTC Clearing Services to Their Clients
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."
Notes to Editors
About Calypso Technology, Inc.
Calypso Technology offers financial institutions and corporate
treasuries an integrated trading, risk and processing software platform which
provides a solid, modern foundation for future business growth. Over 110
customers, including eight of the top ten banks, use Calypso to better manage
positions and risk globally, across assets, for derivatives and treasury
products.
The Calypso Trading and Risk Management Platform is the
industry's first application software suite built from the ground up to be a
front to back office, cross-asset system for derivatives and treasury
products. With thirteen global offices and over 500 employees, Calypso has
been recognized for its award-winning innovations and strong customer service
culture. "Calypso" is a registered trademark of Calypso Technology, Inc in
the United States, the European Union and other jurisdictions.
Source: Calypso Technology Inc.
Press Contacts: Cognito APAC, Anne Karumo, +65-6311-9497; Cognito Europe, Paul Bowhay / Charlie Morrow, +44(0)20-7438-1100; Cognito US, Binna Kim / Carly Fowler, +1-646-395-6300, calypso@cognitomedia.com
SAN FRANCISCO, October 27, 2010/PRNewswire/ --
- Clearing Members can Connect to Multiple OTC Clearing Platforms
- Clearing Members can Offer OTC Clearing Services to Their Clients
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."
Notes to Editors
About Calypso Technology, Inc.
Calypso Technology offers financial institutions and corporate
treasuries an integrated trading, risk and processing software platform which
provides a solid, modern foundation for future business growth. Over 110
customers, including eight of the top ten banks, use Calypso to better manage
positions and risk globally, across assets, for derivatives and treasury
products.
The Calypso Trading and Risk Management Platform is the
industry's first application software suite built from the ground up to be a
front to back office, cross-asset system for derivatives and treasury
products. With thirteen global offices and over 500 employees, Calypso has
been recognized for its award-winning innovations and strong customer service
culture. "Calypso" is a registered trademark of Calypso Technology, Inc in
the United States, the European Union and other jurisdictions.
Source: Calypso Technology Inc.
Press Contacts: Cognito APAC, Anne Karumo, +65-6311-9497; Cognito Europe, Paul Bowhay / Charlie Morrow, +44(0)20-7438-1100; Cognito US, Binna Kim / Carly Fowler, +1-646-395-6300, calypso@cognitomedia.com