The two central banks select Calypso to support their capital markets operations including FX exposures, portfolio management, reserve management, risk management, collateral and accounting
Calypso Technology Inc., the leading integrated capital markets platform provider, announced today that two European central banks, Banque de France and Banco de España, have jointly selected Calypso as their core treasury and trading system.
The institutions will implement the Calypso system to manage their FX activities, portfolio management, reserve management, collateral management, risk management and accounting.
Both Banque de France and Banco de España initiated the Market Activities Processing System (“MAPS”) project in 2013 to replace legacy systems. Banque de France and Banco de España sought out a flexible solution that could enable greater coordination and efficiencies across all bank functions, from front office to accounting, including foreign exchange reserve management and portfolio management.
After a restricted tender process, the two central banks selected Calypso in light of its strong technical fit, cross asset end-to-end functionality and ability to support capital markets operations of multiple central banks on one single platform, shared as a common system, while fulfilling strict data segregation requirements.
The Calypso solution will support FX and FX derivatives, fixed income, money market instruments, interest rate derivatives, credit derivatives, precious metals and equities seamlessly from pricing and portfolio management to collateral management and accounting.
Calypso Professional Services will implement the Calypso system at Banque de France and Banco de España to ensure complete management of market operations. As Calypso Chairman and CEO Charles Marston explains, “We look forward to enabling Banque de France and Banco de España to achieve their business objectives and furthering Calypso’s position as a trusted partner to central banks and sovereign institutions around the globe. We expect that other central banks both within the Eurozone and worldwide will closely monitor this endeavor.”
Banque de France and Banco de España are the most recent additions to Calypso’s roster of central bank or sovereign institution customers, which include the Hong Kong Monetary Authority and the Bank of Korea.