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Bluecrest Capital Management Selects The Calypso System For Front Office Trading Solution

Solution supports expansion of global hedge fund’s trading operation

Calypso Technology Inc., the global capital markets platform provider, today announced that BlueCrest Capital Management ("BlueCrest"), a leading global hedge fund manager with over $33 billion in assets under management, has chosen Calypso’s Front Office Solution to support its funds. The Calypso solution will support BlueCrest’s order management, trade capture, lifecycle management, real-time position and risk management. The product coverage is comprehensive and covers interest rate derivatives, bonds, repos, FX, equities, equity derivatives, credit, commodities, cash and loans. Trades will be fed into Calypso from more than a dozen external trading platforms.

BlueCrest has been a Calypso client since 2008 when it adopted Calypso’s Middle Office functionality. BlueCrest partnered with Calypso to develop and build out Calypso’s highly successful Cross Asset P&L functionality that has since become the backbone of Calypso’s buy-side offering.

BlueCrest was impressed with the Calypso System’s ability to model the workflow of their cross-asset, high volume trading requirements and realize their vision to focus investment away from traditional order management systems to a modern enterprise solution, reflecting the change in market conditions.

Donal Fleming, CTO, BlueCrest, commented: “We needed a solution which would support our growth initiatives, whilst also consolidating our current trading platform systems. Calypso’s established front office trade capture system was an obvious choice.” He added, “Calypso is a trustworthy system, designed for efficient implementation and maintenance, and we look forward to a continued partnership.”

Charles Marston, Chairman and CEO, Calypso Technology, added: “We are very excited to partner with BlueCrest to deliver the cross-asset trading solution they require. Working with BlueCrest has helped extend the Calypso System’s cross-asset capabilities, demonstrating the value of our solution for the buy-side and our dedication to working with this sector.”