BCS Global Markets calls on Calypso Tech
“The emerging markets, including Russia and the CIS, are strategic for Calypso, and we will continue to invest in these regions to provide solutions that bring global-standard market practices with local conventions,” says Didier Bouillard, CEO, Calypso Technology.
BCS Global Markets selected the Calypso platform because of its ability to process, end-to-end, across multiple asset classes in lieu of old legacy systems.
The financial institution says this project has increased automation and “operational consolidation” for BCS Global Markets, while “laying the foundation for the existing and future IT landscape”.
“The decision to upgrade our back-office system was driven by our rapidly-growing business, which required implementing complex products for our clients, and updating our business and compliance requirements to increase our range of product offerings and control functions respectively, which necessitated greater automation and coordination of back office tasks,” comments Alexander Smelskiy, head of strategic IT platform development, BCS Global Markets.
BCS Global Markets is looking beyond simply emerging markets. Only recently, the investment bank obtained a UK transaction banking licence to offer an integrated investment banking and payment services solution.
BCS Global Markets says it processes two million transactions a day across all aspects of back office functionality, including trade settlement, trade confirmations, settlement matching, and client, regulatory, internal and management reporting, which were fully customised to suit current business process requirements using Calypso.