CME Group, a diverse derivatives marketplace, has deployed Calypso Technology's Calypso System to support its OTC derivatives processing for clearing interest rate swaps.
Calypso said that the Calypso Platform is one of the components of the recently launched CME Group’s OTC interest-rate swaps clearing solution.
The group has also implemented the Calypso system’s limits functionality, which enables the clearing members to control and manage intra-day risk.
CME Clearing Solutions managing director Michael O’Connell said Calypso’s support of interest rate swap clearing solution enables the group to continue to bring safety and soundness to the market.
Calypso Technology CEO Charles Marston said that given the current regulatory initiatives designed to improve financial stability, we are going to see a fundamental shift in the OTC derivatives market toward the clearing of standardized OTC derivatives on exchanges. The establishment of CME Clearing’s new offering is an integral part of this evolution.
Calypso Technology is an application software provider of an integrated trading, risk and processing platform to financial institutions, clearing houses and corporate treasuries.