Korea’s central bank implements Calypso Technology, Inc. to upgrade its technology to manage world’s 7th largest sovereign reserve
Calypso Technology, Inc., the leading integrated treasury and capital markets software provider, announced today that the Bank of Korea, responsible for managing the world’s 7th largest foreign reserve of $329 billion USD, has gone live with Calypso’s front-to-back office solution to manage its sizable portfolio.
In light of the rapidly changing global environment, the Bank of Korea was looking to manage its foreign reserve investment strategies more efficiently to improve operational stability and increase return on investment. Calypso’s solution enables the Bank of Korea to manage these strategies more effectively. By integrating workflow in a single front-to-back office platform that improves STP efficiency and operational stability, Calypso provides the bank with the ability to support investment management decisions across a wide range of products including FX, MM, equities, commodities, fixed income and interest rate derivatives.
The Bank of Korea FROMs2 (Foreign Reserve Operation and Management System) go-live ceremony in Seoul earlier this year was attended by the Governor of the Bank of Korea, Mr. Jung Su Kim, and executives and members of the bank. Calypso was represented by Chairman and CEO Charles Marston. Marston commented, “I was honored to be involved in the go-live ceremony on behalf of Calypso. We are very excited to support the Bank of Korea’s strategy. Our solution enables greater efficiencies and reduces operational risk across the foreign reserve business. This partnership demonstrates the value of our software and our dedication to working with this sector and region.”
During the implementation process, Calypso provided subject matter expertise support as the company managed the project alongside system implementation partner NOA-ATS -- a Korea-based consultant which has worked with Calypso Technology since 2004.
“The Bank of Korea expects to improve its operational stability and increase return on investment through managing our investment strategies more efficiently by implementing the Calypso solution. Calypso and NOA-ATS were the ideal partners for us. They demonstrated solid knowledge of our business throughout the engagement, leading us to a successful deployment on time and within budget,” added the manager of the Bank of Korea.