- 49% of respondents are working to improve processing of OTC derivatives
- 56% of respondents are going to decrease their IT spend in 2009
London, 12th January 2009 - Calypso Technology Inc., a leading global provider of an integrated trading application suite to the capital markets industry, unveiled its latest survey results from their annual EMEA customer forum held in London last month. The results highlighted that respondents were concerned about improving their internal systems for risk management and OTC derivatives processing. While the majority of respondents anticipated a decrease in overall IT spending in 2009, investments in systems for risk management will take priority as integrated risk becomes increasingly important in today's unpredictable financial environment.
Over 100 delegates, comprising representatives from 33 leading financial institutions, across seven European countries, met last month to discuss Calypso Technology's offering which supports trading, risk management and processing for a broad array of asset classes on a single integrated platform. 39% of respondents saw reducing IT and maintenance costs as a route to reducing overall IT expenditure. System consolidation, STP and operational efficiency were some of the topics discussed during the conference in relation to reducing costs.
Rene Steenhart, Global Head of Operations at Rabobank, stated: "Since having implemented the Calypso system, we estimate that our efficiency rate has increased between 30-35% in the back office area of FX and MM processing. This has resulted in our staff being able to concentrate on further improving our customer service, something which is even more important in today's market where Rabobank prides itself to deliver a reliable and stable AAA rated customer service."
"Our EMEA customer conference this year highlighted that although IT spend is set to decrease next year, many firms are looking to invest in improved risk management and OTC derivative processing systems," says Charles Marston, CEO, Calypso Technology. "This event continues to allow a forum to discuss the issues affecting the marketplace and remains an important part of Calypso's transparent communication with our client base".