Aerospace Group EADS Implements New TMS
The European Aeronautic Defence and Space Company (EADS) has implemented the Calypso system as its new treasury management system (TMS).
The aerospace and defence group, developer of the A380 Airbus, has replaced a legacy system with Calypso at its central treasury department. Calypso’s cross-asset platform will support global in-house treasury requirements, including foreign exchange (FX), money market (MM), equities, fixed income, FX derivatives, credit derivatives and interest rate derivatives. The Calypso solution has been implemented for cash management, collateral, asset management, accounting, reporting, limits and liquidity risk, to provide a holistic, real-time globally centralised cash position across the group.
Kishore Bopardikar, president and chief executive officer (CEO) of Calypso Technology, said: “Enterprise-wide cash management and a global view of liquidity and credit risks are key concerns for CEOs, chief financial officers (CFOs) and treasurers across all industries. The partnership with EADS is a validation of our ability to solve large enterprise treasury management challenges in a dynamic non-financial environment.”
Andreas Drabert, vice-president (VP) treasury controlling at EADS, added: “One of the major goals in bringing Calypso onboard was, besides replacing our existing treasury system, to prepare the department’s system environment for the challenges of the future. As an outcome of the financial crisis, industrial corporates are taking a much more cautious view on credit and liquidity risk management than ever before.” A centralised operation, controlled by a TMS, can help in this objective.