More NewsNew Zealand Bank ASB Goes Live with Calypso

New Zealand Bank ASB Goes Live with Calypso

ASB Bank, a New Zealand financial institution, has successfully implemented the second phase of the Calypso project to go live on its cross-asset, front-to-back treasury platform for foreign exchange (FX), money market, interest rate derivatives, and risk, including limit management, enterprise risk, value at risk (VaR) and market risk.

ASB was seeking a single solution to support all treasury functions and expose more treasury capability via the bank’s internal portal, FastNet. Calypso was chosen for its ability to streamline the bank’s entire financial markets trading and post-trade processing activities. The first phase of the project included end-to-end processing for forward rate agreements and futures as well as limits management. The second phase, including FX, went live in November 2009.

“Choosing Calypso was a strategic decision for us,” said Kerry Francis, chief executive of treasury and financial markets, ASB. “By implementing Calypso, we now have sophisticated trading capabilities across a number of asset classes while benefiting from the efficiencies of centralised workflow.”

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