Charles Marston, Chairman and CEO, Calypso Technology: "Record is a welcome addition to our expanding asset management client base and we are looking forward to helping them grow."
Calypso Technology Inc, has announced the signing of Record plc, a UK listed currency specialist that manages a number of pooled client funds and segregated client accounts. Record has selected the Calypso system to support its currency management business.
Record chose the Calypso system for its ability to support its FX and FX Derivatives business out-of-the-box for the entire mid and back office transaction life cycle on a single platform. The system will enhance Record's ability to manage multiple funds with different risk/return profiles for different clients as well as pooled arrangements where the risk and cash management span across funds and client structures.
Paul Sheriff, CFO at Record said, "While we looked at a variety of options, in the end we selected the Calypso system as it was the closest fit to our requirements. The Calypso system will enable us to significantly increase flexibility in product design while reducing the product development lifecycle. We expect the system to aid operational risk management and achieve significant efficiency gains in the trade lifecycle management. Most importantly, the Calypso system will enable us to deliver a better service to our customers by being able to scale in terms of both traded volumes and in the variety of instruments supported. Our customer service will be further improved from the sophisticated reporting tools utilizing the Calypso system."
Record is currently implementing the Calypso system and is planning to go live in Q3 of 2010. The Calypso system will interface with the existing system infrastructure, including Record's proprietary algorithmic trading applications and external data providers.
"Calypso will allow Record to better support the unique needs of its pooled and individual client funds by helping them respond quickly to new market opportunities," added Charles Marston, Chairman and CEO of Calypso Technology. "Record is a welcome addition to our expanding asset management client base and we are looking forward to helping them grow."