To complement the significant investment already made in Research and Development by Calypso to support LIBOR Reform and the transition to the new risk-free rates (RFRs), the Company is now rolling out an innovative LIBOR Transition Assessment service which will equip customers with the information they need to develop an informed strategy and execution plan as part of their overall transition program.
Calypso Technology Inc., a leading provider of cross-asset front-to-back technology solutions for financial markets, has already invested heavily in LIBOR transition and has accrued significant expertise.
The transition deadline of end-2021 may seem comfortably distant but given the impact it will have on all customers and their systems, not just in the front-office, preparations need to be well under way by now.
The new Assessment Service is designed to reduce uncertainty by assessing the impact of planned software changes, configuration considerations and migration paths related to LIBOR transition. It offers a standardized approach, tailored to each customer’s specific usage of their Calypso solution. An automated process makes it easy for them to supply the data required from their Calypso installation for analysis and assessment.
Upon completion of the engagement, customers then have the option of continuing with Calypso for project execution, undertaking it themselves, or engaging with certified partners.
Says Gabriel Lopes, Global Head of Customer Delivery, Calypso Technology:
“Our customers have asked for help and told us that the full extent of the impact across their systems is difficult to assess and is likely to be underestimated. Some already fear that they will not be ready in time. In response, we have focused our efforts into building this new LIBOR Assessment Service, which leverages our investment in future proofing the Calypso platform and uniquely positions us to deliver substantial value to our customers. We are confident that this will accelerate readiness for the transition across our client base as we are already seeing very high levels of engagement.”
The new LIBOR Assessment Service is part of Calypso’s ongoing Value Assurance program, which enables customers to build on their existing investment in the product and helps projects run just as they were designed. Value Assurance Services are developed and packaged to provide guidance and assurance to customers who choose to implement our software on their own, or with Partners but want an enhancement level of support and involvement from Calypso. They include Planning and Safeguarding, Project Reviews, Upgrade Advisory Services, Inquiry Services, Troubleshooting, Technical Healthchecks and Learning Services, amongst others.
Calypso Technology, Inc. is a cloud-enabled provider of cross-asset front-to-back solutions for financial markets with over 35,000 users in 60+ countries. Its award-winning software improves reliability, adaptability, and scalability across several verticals, including capital markets, investment management, central banking, clearing, treasury, liquidity, and collateral. Calypso is pioneering innovative technologies (native cloud technology, AI, Big data) that reimagine capital markets.
“Calypso” is a registered trademark of Calypso Technology, Inc. in the U.S., EU and other jurisdictions. Other parties’ trademarks or service marks are the property of their respective owners.