Calypso Technology: Setting the Tune for the Next Financial Revolution

Calypso Technology: Setting the Tune for the Next Financial Revolution

CIO VendorKishore Bopardikar, CEO
2008 won’t be remembered fondly by the world economies. Problems in the Over-The-Counter (OTC) derivatives market were highlighted during the financial crisis by the near collapse of Bear Sterns, the default of Lehman Brothers, and the bailout of AIG. The crisis led to the enactment of the DODD-FRANK act by the U.S. government while European Union simultaneously activated the European Markets and Infrastructure Regulation (EMIR) act. The knock down effect of the laws has been immense, regulatory policies have been overhauled across the financial market, new electronic trading, mandatory clearing, and trade reporting are significantly affecting derivatives operations and workflow. The working module of a trading platform has not shifted dramatically through the years, but a number of leading vendors are currently making progress on the migration path toward Service-Oriented Architecture (SOA) compliant, component-based, multi-asset-class systems, as well as toward more open app-based capabilities.

Calypso Technology, based out of San Francisco, CA, is pitching its front-to-back technology solutions for the financial markets that are reeling from regulatory changes. The company developed an integrated multi-asset-class trading platform, known as Calypso based on the Java platform. Led by Kishore Bopardikar, CEO, Calypso, the company has been targeting the new business environment with cross-institutional coverage and comprehensive functional, instrument, and asset-class capabilities. Calypso provides clients with a single platform that enables system consolidation, business innovation, and growth. All the solutions run on Calypso’s real-time platform, a low-latency multi-tiered open service-oriented architecture designed from inception to perform cross-asset front-to-back straight-through processing.

Calypso has evolved since its inception in 1997; it has been churning solutions for the different financial demands and requisites of customers. Among its plethora of solutions, one has been under the microscope of various customers for its effectiveness and slick financial market dealing. Calypso has come up with a solution that is based on an industrialized blueprint for reducing complexity and cost in banks.

Calypso provides clients with a single platform that enables system consolidation, business innovation, and growth

The Calypso Bank-in-a-Box solution is a complete, auditable target operating model for capital markets with pre-figured business processes and operating manuals. With it, banks can focus more on revenue and less on technology, to streamline, consolidate, and document their processes and systems in the face of market and regulatory changes. The appeal of Bank-in-a-Box lies in its documented operating model and standardized business workflows, easing the ongoing cost and compliance challenges.

The overall focus on trading platforms and regulations has endeared Calypso to the financial markets; there are stories abound of Calypso’s growing influence in the trading market solutions. One of them revolves around a large European commercial bank with incumbent back office capital markets system that was incompatible with their long-term vision. The bank conducted an analysis to determine whether to upgrade the existing system or to select a new vendor, and eventually the bank opted to make a change in their structure of doing business. The Calypso platform provided the bank with the flexibility and functionality they needed to transform their derivatives trading operation. Calypso’s Analytical approach to the issues at hand left the client pleased with the results; manual tasks, disputes, and processing errors all decreased, while efficiency and Straight-through-Processing rates increased.

The success stories are after-effects of the continuous thrust on innovation that Calypso espouses with verve. Calypso has teamed up with Calypso University to provide professional development and training for its clients and implementation partners. This unique partnership is providing blended learning that equips skills and knowledge to maximize the full value of a client’s Calypso investment. The future of capital markets is hard to decipher and turbulent times might lie ahead, but Calypso is well prepped to face it.