Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that nabCapital, the institutional banking and capital markets division of National Australia Bank Group (one of Australia's largest listed institutions with total assets of A$657 billion and A$97 billion in funds under management), has gone live with a broad range of its interest rate derivative products to support its growing business.
nabCapital was seeking a solution that would both support the firm's current business and scale with future growth. Building on the existing implementation of Calypso's Credit Derivatives solution which has been live for some time now, Calypso's Interest Rate Derivatives (IRD) solution will enable trading, risk management and processing of a broad range of products, from high volume plain vanilla swaps through to complex yield-enhancing exotic products, and will allow nabCapital to capitalize on ever-changing market opportunities.
Calypso's IRD solution includes dynamically configurable real-time cross-asset risk and hedging management at the portfolio level with full drill-down to individual positions and trades. nabCapital will benefit from a highly scalable solution that will support high volume trading with an open architecture built on standard interfaces for connectivity to global platforms. The open architecture of the Calypso platform will enable easy integration with nabCapital's existing infrastructure across the front-to-back office.
Peter Hehir, Head of Technology, Markets and Market Risk, nabCapital says, "As we continue to expand our growing business, we needed a sophisticated and complete solution to support the entire trade life cycle in a wide range of instruments, all the way from trade capture to operations. Having two business areas supported from one solution enables us to operate more effectively. By choosing Calypso, a best-of-breed solution, we're able to focus our time and resources on what we do best - bringing value and return to our clients."
"This implementation is a significant milestone for Calypso as it further consolidates our position within nabCapital," adds Charles Marston, CEO and Chairman of Calypso Technology. "The next step in their plan is to roll out IRD to their northern hemisphere operations and then move on to fixed income. nabCapital going live is a testament to the strength of our offering in the market place and to the ease of implementation of our products."
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