-- Live on OTC derivatives clearing and cross-margining
ASX, one of the world's top 10 listed exchange groups, uses the Calypso solution to support OTC derivatives dealer-to-dealer clearing of standardized Australian Dollar (AUD) denominated interest rate swaps. ASX offers a cross-margining service on Calypso, enabling clearing members to offset initial margin between their interest rate swaps and 24 ASX exchange-traded interest rate futures products positions, thereby reducing the overall portfolio margin requirements. The Australian dealer community has expressed support for this service, as it retains their collateral onshore and facilitates capital efficiency via the clearing of OTC and exchange-traded derivatives together. ASX plans to offer AUD interest rate client clearing by Q2 2014, and is working with foundation customers comprising major Australian asset managers and state government treasuries. (Source: http://www.asxgroup.com.au( http://www.asxgroup.com.au/media/PDFs/ASX_OTC_Derivatives_Client_Clearing_Service_Media_Release_-_30_April_2013.pdf )).
Key factors in the selection of Calypso platform for OTC clearing were Calypso's market leadership in OTC derivatives clearing software and experience in working with 9 global CCPs. The Calypso system provides end-to-end clearing operations, risk management and connectivity between CCPs and clearing member firms.
"Calypso is at the forefront of the expansion of OTC clearing platforms around the world", says
Calypso Technology is a premier global capital markets platform provider, serving financial institutions of all types with a full range of integral cross-asset front-to-back office solutions for treasury and derivatives including trading, risk, processing, clearing, collateral, cash management, liquidity, accounting and reporting. The Calypso platform is steadily emerging as a global standard for capital markets businesses and serves as an ideal foundation for innovation and future growth.
Calypso has over 160 clients in over 60 countries - including banks, central banks, sovereign funds, asset managers, insurers, hedge funds, prime brokers, exchanges, clearing houses, processing services and other service providers. Calypso is committed to industry-renowned levels of customer service, research, development and innovation. The company has over 650 employees and 20 offices globally. "Calypso" is a registered trademark of
-- We operate a fully integrated exchange across multiple
asset classes -- equities, fixed income and derivatives
-- We service a wide range of retail, institutional and
corporate customers, directly and through intermediaries
-- We offer a broad range of services that allow our customers
to invest, trade and manage risk. This includes listings,
trading, post-trade services, and technical and
-- We operate infrastructure that supports the systemic
for the efficient functioning of the nation's economy,
economic growth and position in the
More information about ASX can be found at www.asxgroup.com.au.
SOURCE Calypso Technology
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