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.
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 barely 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.”