Nordea Goes Live with Calypso

23 March 2009

Calypso Technology Inc, a global application software provider of an integrated trading application suite to the capital markets industry, today announced that Nordea, a leading Nordic bank, has gone live with their first phase of Calypso Trading and Risk Management system for consolidated securities processing and settlements.

Nordea was seeking a solution to enable consolidated securities flow across Nordea's offices in the Nordic region. In addition to fixed income and equities back office support, the Calypso platform offers Nordea a flexible infrastructure and sophisticated workflow-based exception handling capabilities which will significantly improve the bank's straight through processing rates. By implementing the Calypso system centrally and with the first go-live in Sweden, Nordea now has a solid foundation for rolling out the Calypso platform across the bank's offices in Finland, Denmark and Norway.

Peter Lunding, Business CIO Capital Markets Products, at Nordea, says, "We have been working very closely with Calypso Technology to create a best practice operating model for Nordea. We got up and running quickly, within set time frame and budget. We are pleased with the level of support Calypso Technology has provided and the resources they have dedicated to us. The Calypso system is a cornerstone in streamlining the securities flow across all our offices in the Nordic region and having a flexible infrastructure upon which we can grow and expand."

"We continue to see strong demand in the Nordic region and we're extremely pleased to be working with a leading firm such as Nordea to enhance our product to meet the increasingly sophisticated requirements of this growth area," says Charles Marston, CEO of Calypso.

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