Back Office
Many organizations are faced with the situation of separate front, middle, and back-office systems for each product silo even though the functions of a middle or back-office system are similar. Each system has to handle confirmations, position keeping, settlement, P&L etc. The cost of maintaining these multiple system can be significant. Calypso® is an award-winning, proven back office system that enables the replacement of silo systems with a single solution.
Financial institutions benefit from using Calypso by having a consistent approach to back office processing which supports business re-engineering to improve efficiencies, reporting and straight through processing. It is equally well suited for high-volume FX and securities trading as for low-volume structured products.
Large banks often have multiple subsidiaries, each with their own trading and treasury operations. Many firms are seeking to establish dedicated processing centers that will process trades on behalf of their trading units to improve efficiency and reduce costs. Calypso can scale to support organizations with simultaneous-multiple trading entities, across time zones, and a single global processing center.
Efficient Processing
With Calypso, straight-through processing is fully achievable. Calypso can automatically generate confirmations and messages for booked trades which contain no errors. Calypso enables customers to switch to exception-based processing, which results in greater efficiency and reduces cost per trade. Calypso enables financial institutions of all sizes to achieve high levels of STP, in the following ways:
- Real-time – As soon as an event occurs, such as the entry of a new trade, all processing of that event happens instantaneously and the results are immediately visible to the user.
- Workflow-driven – The sequence of processing steps is determined by a workflow that the user defines, rather than forcing the firm to adhere to a one-size-fits-all approach. Workflow encompasses the business rules that need to be satisfied for STP.
- Exception-based – All processing can be performed automatically unless an exception occurs or the user decides a particular processing step should be manual.
Calypso supports the following Back Office functions:
- Settlements
- Messages
- Cash Management
- Collateral Management
- Confirmation matching
- Position management
- Corporate actions
- Accounting
- Reporting
- Audit and Control