Swiss bank Banque Pictet & Cie has gone into production with software provider Calypso for a collateral management solution to consolidate all collateral activities across its businesses on a single platform.
It has implemented a standalone, centralized collateral management system aggregating collateral pool’s from Banque Pictet & Cie’s core banking system for processing margin calls. Calypso will also be used to manage internal and client collateral.
As of December 2014, assets under custody at Banque Pictet & Cie totalled CHF 435 billion ($437 billion). Its customers mostly include institutional asset managers, funds, family offices and other banks.
The mandate comes as many banks are revamping their collateral management processes from manual systems to centralized, more automated systems in the face of regulations requiring initial margin for both listed and OTC derivatives.
Banque Pictet & Cie Chooses Calypso for Collateral Management
Swiss bank Banque Pictet & Cie has gone into production with software provider Calypso for a collateral management solution to consolidate all collateral activities across its businesses on a single platform.