Calypso Technology has partnered with consulting firm Synechron to provide a cross-asset, fully integrated treasury management solution to ArcelorMittal.
Steel and mining company ArcelorMittal selected Calypso’s treasury management solution to provide complete straight-through processing in one single platform.
ArcelorMittal required a front-to-back treasury solution to manage their complete end-to-end treasury needs including trading, operations, liquidity, funding, regulatory reporting and hedging of foreign exchange and interest rate exposures.
Calypso’s Treasury solution is set to enhance and automate ArcelorMittal’s treasury and trading operations such as trade booking, pricing analytics, compliance and limits monitoring and risk management.
According to Calypso, this will enable it to efficiently manage and support its treasury requirements across the globe.
Eric Languille, managing director Europe, Calypso Technology, notes: “This is an excellent testimony to the quality of the Calypso team and of our technology partner Synechron to understand the requirements of such a prestigious client and deliver the right solution to support ArcelorMittal’s transformation journey and its ambitions for growth, leveraging our front-to-back cross-asset treasury solution which will become the single source of truth.”
Laurent Koenig, treasury head of operations, ArcelorMittal, says: “For our ambitious project to succeed, we needed a robust and flexible front-to-back treasury management solution.”
Koeing explains: “After a comprehensive assessment of the market, we chose the Calypso Treasury solution and selected Synechron to implement it. We are confident that the proven Calypso-Synechron partnership will deliver a treasury management system fit for our current and future needs.”
Jawad Cherkaoui, senior director, head of systems integration at Synechron, comments: “Synechron is proud to have been selected by ArcelorMittal on this ambitious Calypso project. Current health and sanitary conditions are driving an entirely remote project at this stage, facilitated by Synechron’s extensive mix-shore project experience, particularly Franco-Serbian.”
Cherkaoui adds: “Close collaboration with Calypso and ArcelorMittal will be an essential key to the success of the overall project.”
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