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Bank Leumi Chooses Calypso As Cross-Asset Platform

One of Israel's largest banking corporations, Bank Leumi, will utilize Calypso's front to back office platform for cross asset class support, including interest rate derivatives.

Bank Leumi, one of Israel’s largest banking groups, has chosen Calypso to provide a cross-asset, front-to-back-office solution to support its core capital markets business.

The deal marks the first signing for Calypso with a major Israeli financial institution.

The bank will use the platform to monitor its global exposure as Calypso will give it a scalable and flexible solution with which to grown its capital markets business, the release states. In terms of cross-asset support, Calypso’s coverage includes interest rate derivatives, providing all functionality from front office trading through to final delivery and settlement. Specific functionalities will include trading, pricing, risk monitoring, trade processing, settlement, delivery and positionkeeping. The platform will also provide a flexible framework, allowing the bank to bring new products and instruments to market.

“At Bank Leumi, we were looking for a way to monitor global risk exposure of the Bank, increase actual services capabilities and extend our products and services to our customers and the overall market. Calypso’s solution would clearly allow us to achieve this aim and support our overall business objectives,” commented Professor Daniel Tsiddon, deputy CEO, Bank Leumi, who signed the contract with Kishore Bopardikar, CEO and president of Calypso Technology in Tel Aviv in December 2012. Implementation began early in January 2013 under Haim Hosman, global project delivery manager in Tel Aviv.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio

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