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.
KBâs 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, âWith Calypso Technologyâs 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.â
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.
âThis project with KB Kookmin Bank, South Koreaâs largest bank, further underscores Calypso Technologyâs work in the East Asian markets and our expertise in cross-asset coverage, particularly branching into collateral management,â commented Charles Marston, CEO and chairman, Calypso Technology. âWe are delighted to be working with KB Kookmin Bank and assisting them as their business develops.â