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Calypso Selected by Pacific Life Insurance for Collateral Management and Optimization

Calypso Technology Inc., a leading provider of software solutions for the financial markets, announced today that Pacific Life Insurance Company has selected the Calypso Collateral Management solution for automation and optimization of their collateral across all business entities.

Pacific Life required a solution to manage the anticipated increase in margin calls resulting from the Dodd-Frank regulation on central clearing of OTC derivatives. To handle the exposure across its multiple entities and funds, Pacific Life needed a real-time, centralized collateral system that offered collateral inventory and efficient margin call management. The ability to optimize collateral allocation in order to improve capital efficiency and reduce the drag on portfolio yield was a strategic requirement. An added requirement was an implementation in less than 6 months without impacting Pacific Life’s existing technology architecture. After evaluating several collateral solutions, Pacific Life selected Calypso based on its outstanding functionality integrated with derivatives middle office capabilities, a superior and open technical architecture, and a proven, rapid implementation approach.

By implementing Calypso, Pacific Life will be replacing a legacy collateral solution and manually-intensive spreadsheet processes. “In Calypso, we have a solution that dramatically automates our collateral process and enables greater visibility of inventory across the organization while preserving our current technology infrastructure,” states Dominic Faso, Head of Treasury and Investment Operations, Pacific Life. “Calypso stood out as the superior solution that enables us to quickly respond to new regulatory requirements and the resulting market structure changes for listed and OTC derivatives. In addition, this is a robust platform that we can leverage in the future for more functionality.”

“We are delighted to be working with a leading insurance company such as Pacific Life to help deliver operational efficiencies, improved investment performance, and regulatory compliance,” states Charles Marston, Chairman and CEO, Calypso Technology.