BCS Global Markets (BCS) has gone live with the Calypso platform, which provides end-to-end processing across multiple asset classes and is able to replace existing legacy systems.
According to BCS, the project has increased automation and operational consolidation, while laying the foundation for existing and future IT landscape. BCS processes at least two million transactions per day across all aspects of back office functionality.
This includes trade settlement, trade confirmations, settlement matching, and client, regulatory, internal, and management reporting, which were fully customised to suit the current business process requirements using Calypso.
Internal and external resources performed the development work at BCS, and the final configuration set up was validated through independent health check for both technical and performance aspects using Calypso consultants.
The results confirmed the setup and quality of the system, giving the green light to the implementation, BCS Global Markets revealed.
Didier Bouillard, CEO, Calypso Technology, commented: “We are delighted that BCS Global Markets has successfully implemented the Calypso solution across its back office operations.”
“The emerging markets, including Russia and the CIS, are strategic for Calypso, and we will continue to invest in these regions to provide solutions that bring global-standard market practices with local conventions.”
Alexander Smelskiy, head of strategic IT platform development, BCS Global Markets, remarked: “The decision to upgrade our back office system was driven by our rapidly-growing business, which required implementing complex products for our clients, and updating our business and compliance requirements to increase our range of product offerings and control functions respectively, which necessitated greater automation and coordination of back office tasks.”
Ilya Batay, CIO, BCS Global Markets, added: “Given BCS Global Market’s international expansion, it was important for us to provide support for current and future business needs by implementing known and proven market solution.”
“Calypso has all of the functional and technical capabilities we need. We see Calypso software as the main back office solution for all BCS Global Markets companies in the future.”
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