SGX Launches Asia’s First OTC Derivatives Clearing Using Calypso
Calypso Technology Inc., a global application software provider of an integrated trading, risk and processing platform to financial institutions, clearing houses and corporate treasuries, announced that Singapore Exchange Limited (SGX) successfully launched its interest rate swaps (IRS) central counterparty (CCP) clearing service, on November 15th using the Calypso software solution. This is the first OTC financial derivatives central clearing service in Asia.
Mr Charles Marston, Chairman and CEO of Calypso Technology, said, “The partnership with SGX, a respected and innovative exchange, further underscores our deepening expertise in OTC derivatives central clearing. Through our work with SGX and other global exchanges, we continue to help bring central clearing services to financial markets around the world. We are delighted to be working with SGX and to be further expanding our presence in the APAC region.”
Mr Muthukrishnan Ramaswami, President of Singapore Exchange, added “We are pleased with Calypso Technology’s support; their active involvement in the project implementation saw the successful completion of this new service. We look forward to enhancing our relationship with Calypso Technology over the long term.”