London - Calypso Technology, the capital markets platform provider, has been selected by Israeli banking corporation Bank Leumi, to provide a full cross-asset, front-to-back office solution to support its core capital markets business.
The Calypso platform will provide cross-asset support, including interest rate derivatives, providing all functionality from front office trading through to final delivery and settlement. Specific functionalities will include trading, pricing, risk monitoring, trade processing, settlement, delivery and position-keeping. The platform will also provide a flexible framework, allowing the Bank to bring new products and instruments to market.
"At Bank Leumi, we were looking for a way to monitor global risk exposure of the Bank, increase actual services capabilities and extend our products and services to our customers and the overall market. Calypso's solution would clearly allow us to achieve this aim and support our overall business objectives," said Professor Daniel Tsiddon, Deputy CEO, Bank Leumi, who signed the contract with Kishore Bopardikar, CEO and President of Calypso Technology in Tel Aviv in December 2012.
This announcement marks the first signing for Calypso with an Israeli financial institution. "We are delighted to be working with Bank Leumi and supporting their growing and exciting capital markets business," said Mr. Bopardikar. "Our success here truly demonstrates the demand for tools that allow regional customers and their clients to access global markets. We look forward to working closely with Bank Leumi and playing an important part in the bank's expansion."