SAN FRANCISCO, March 30, 2016 /PRNewswire/ -- Calypso Technology Inc., a leading provider of capital markets software, announced today it is releasing a packaged solution to address the Basel Committee on Banking Supervision's new requirement for Counterparty Credit Risk. The solution follows the Basel directive BCBS 279, or "The Standardized Approach for Measuring Counterparty Credit Risk Exposures," otherwise known as SA-CCR.
The new regulation mandates that all banks globally are required to calculate the standardized approach, even if they also use the advanced approach. The implementation deadline is January 2017.
To enable their clients to meet this tight timeline, Calypso has built a comprehensive SA-CCR calculation engine. It will produce Potential Future Exposure, Exposure-at-Default and all Capital calculations with the full granularity specified by regulations. The calculations themselves include netting within asset classes as well as collateral effects at the counterparty level. The solution is available across the entirety of Capital Market products.
"The many regulatory initiatives specified by Basel have significantly altered the landscape on the Street," said Pedro Porfirio, Chief Product Officer of Calypso Technology. "The changes in capital calculations that these models will trigger mean that banks need a reliable partner to help manage the transition. Not only do they need a robust calculation engine to help them meet the regulatory deadline, but they face an urgent need to determine how the new rules will impact their business."
The new SA-CCR solution will be offered as a cloud-based utility service run by Calypso. It can also be installed as an enterprise application on the Calypso platform. "This offering extends our existing suite of utility-based solutions. We feel that the utility business model is the future of finance as the industry continues to standardize," said Charles Marston, Executive Chairman of Calypso Technology. "However, we understand that each institution has a different IT vision, and we want to provide flexible solutions that work for the entire market," concluded Marston.
SA-CCR is part of the Calypso Risk & Capital suite which is a comprehensive framework for regulatory calculations across both Market and Counterparty Credit Risk. It builds upon a proven platform for large scale risk calculations to enable financial institutions the clarity they need on capital usage.
About Calypso Technology, Inc.
Calypso Technology, Inc. is a leading provider of cross-asset front-to-back technology solutions for financial markets. It provides customers with a single platform for consolidation, innovation and growth. With 19 years of experience delivering software and services for trading, risk management, processing and accounting, the Calypso solution helps bring simplicity to complex business and technology challenges. Calypso solutions address needs for the capital markets, investment management, clearing, collateral, treasury and liquidity. Clients can benefit from greater efficiency, improved risk management, better allocation of capital, faster regulatory compliance, quicker time to market and reduced Total Cost of Ownership. Calypso Technology offers solutions that improve reliability, adaptability and scalability.
Calypso is used by over 34,000 market professionals in over 60 countries representing more than 200 financial institutions across Asia, Americas, Europe, Middle East and Africa. Calypso Technology has over 800 staff in 22 global offices, with headquarters in San Francisco, California. "Calypso" is a registered trademark of Calypso Technology, Inc. in the United States, the European Union 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
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SOURCE Calypso Technology