KB Kookmin Bank (KB), South Korea's largest bank by asset value and market capitalization, has gone live with a Calypso system to support its Capital Markets business, including trading and risk management of derivatives, treasury, and collateral management.
KB was looking for a single cross-asset front- and middle-office platform to rationalize and standardize an existing complex and siloed infrastructure across multiple branches. The bank decided that it needed to be able to manage trading, positions and risk across its complete range of treasury, cash and derivatives products on an integrated system to achieve enhanced transparency, efficiency and responsiveness. It was a further requirement that the system was expansive and scalable to support future growth.
KB chose the Calypso system for its broad asset class coverage, robustness, and flexibility that will allow integration with its proprietary and third party data feeds and pricing models. The new capital markets platform from Calypso Technology supports increasing trade volumes and diversifying asset-classes.
Kim, Don Kyu, deputy general manager, KB Kookmin Bank, comments, "With Calypso Technology's modern, flexible and scalable platform in place, we will be able to expand and grow into new and important areas of business. We now have a great opportunity to become a regional leader in derivatives, made possible due to Calypso Technology. We look forward to working with Calypso and are excited by the benefits that will immediately favor us."
The functions of the Calypso system range from deal capture, desk-level risk and processing (trade lifecycle workflows) to position and risk analysis. With the new platform, a total of fourteen asset-classes will be covered such as FX cash and options, money market, fixed income, credit and interest derivatives, and collateral management.
"This project with KB Kookmin Bank, South Korea's largest bank, further underscores Calypso Technology's work in the East Asian markets and our expertise in cross-asset coverage, particularly branching into collateral management," sais Charles Marston, CEO and chairman, Calypso Technology. "We are delighted to be working with KB Kookmin Bank and assisting them as their business develops." Phil Albinus is the former editor-in-chief of Advanced Trading. He has nearly two decades of journalism experience and has been covering financial technology and regulation for nine years. Before joining Advanced Trading, he served as editor of Waters, a monthly trade journal ... View Full Bio