Banco Espirito Santo (BES), a Portugal-based commercial bank, has selected Calypso Technology’s front office module to support their trading of a wide range of financial derivatives following a successful implementation of the Calypso back office solution for the bank’s FX business.
Calypso claims that its platform will enable BES to multiply its business capacity by offering services across multiple asset classes. The Calypso system will support the bank’s trading of cross-derivative products, including interest rate, credit, equity, FX and commodity derivatives from an integrated trading, risk management and processing platform.
The Calypso system provides interface with price information from Reuters foundation API, Bloomberg data license, Markit reference IDs and asset pricing service, as well as the DTCC.
Pedro Cruchinho, financial markets senior manager at BES, said: “We were looking for a system that would enable us to maintain innovation, improve customer service and increase profitability. It was also important that the solution could be rolled out across numerous geographical locations that are connected and managed from our current central production environment.
“The relationship that we have formed with Calypso Technology affirms our strong brand image by forming an alliance with a premier partner, and will enable us to grow, expand geographically and achieve cost savings through consolidation of our system infrastructure.”