Calypso Acquires Stake in Sernova Financial

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SAN FRANCISCO, July 24, 2017 /PRNewswire/ -- Calypso Technology, Inc., a leading provider of capital markets and investment management software, announced today that it has acquired a minority stake in the capital of Sernova Financial, a provider of Cloud-based clearing and post trade services.

Powered by the Calypso Cloud platform, Sernova Financial recreates the shared infrastructure and service items of clearing brokers. By reducing the transaction costs and providing optimal workflows, Sernova lowers the barriers to centralised clearing for regional banks and investment managers.

"Calypso seeks to make the financial markets really work on Cloud," said Calypso CEO Pascal Xatart. "Our investment and partnership with Sernova Financial will broaden the markets we serve by providing the industry with a turnkey cloud-based solution to access the Centralised Clearing Counterparties (CCPs) network".

Venkatesh Ramasamy, Executive Chairman and Co-Founder, Sernova Financial, added, "Calypso entry into our capital strengthens our technical and commercial partnership with a recognised industry leader. Regulatory hurdles have reduced the number of clearing brokers and increased the cost of their services. Providing unrivalled cost and operational efficiency, Sernova needed to expand its product coverage to address a soaring demand".

Calypso was recently awarded the 2016 Technology Provider of the Year by Asia Risk Magazine, Best OTC Clearing and Risk Management System Implementation, in collaboration with Hong Kong Exchange, by Asian Banker 2017, and Software Vendor Platform of the Year by QA-Financial, 2017.

About Calypso Technology, Inc.

Calypso Technology, Inc. is a Cloud-enabled provider of cross-asset front-to-back technology solutions for financial markets. Its award-winning solutions improve reliability, adaptability and scalability across several verticals, including capital markets, investment management, central banking, clearing, treasury & liquidity, and collateral. For the past 20 years, Calypso has delivered innovative software for trading, risk management, processing, and accounting, bringing simplicity to complex challenges. Clients benefit from increased efficiency, better allocation of capital, faster regulatory compliance, quicker time to market, and reduced TCO.

With over 35,000 users in over 60 countries, Calypso is on the cutting-edge of emerging technologies like big data, blockchain and AI. "Calypso" is a registered trademark of Calypso Technology, Inc. in the U.S., EU and other jurisdictions. Other parties' trademarks or service marks are the property of their respective owners and should be treated as such.

www.calypso.com

About Sernova Financial 
Sernova Financial is an innovative provider of turn-key post-trade services with a focus on clearing and extensions into back-office services such as collateral and integrated risk management. Sernova Financial's solutions are designed and built by ex-prime service professionals of a top-tier global bank with specialization on intermediation, clearing, collateral, and risk management. Their solution is delivered in partnership with Calypso Technology and TCS.

www.sernovafinancial.com

Media Contacts:

Calypso Technology
Philippe Carrel
[email protected]
+44 7584 283778

Sernova Financial
Ulf Bacher
[email protected]
+44 2038133101

SOURCE Calypso Technology

Related Links

http://www.calypso.com