Israel’s Bank Leumi has selected Calypso Technology to provide a full cross-asset, front-to-back office technology, to support its core capital markets business.
With the deployment of the new technology, which already started early in January 2013, the bank will be able to monitor its global exposure and has a scalable and flexible platform to meet its growing capital markets business needs.
Bank Leumi deputy CEO Daniel Tsiddon said that the bank required a technology to monitor global risk exposure, while enhancing actual services capabilities and extend its products and services to customers and the overall market.
"Calypso’s solution would clearly allow us to achieve this aim and support our overall business objectives," Tsiddon added.
Designed to offer, cross-asset support, including interest rate derivatives, the Calypso platform will provide functionality ranging from front office trading through to final delivery and settlement, Bank Leumi said.
Equipped with a flexible framework to launch new products and instruments to market, the platform is also capable of carrying out specific functionalities, which include trading, pricing, risk monitoring, trade processing, settlement, delivery and position-keeping.