Calypso Adds SEF Connectivity

Calypso has added Swap Execution Facility (SEF) connectivity to its OTC clearing solution and has partnered with Tradeweb Markets’ TW SEF for connectivity to interest rate swaps and credit default swaps indices.
By Jake Safane(2147484770)
Calypso has added Swap Execution Facility (SEF) connectivity to its OTC clearing solution and has partnered with Tradeweb Markets’ TW SEF for connectivity to interest rate swaps and credit default swaps indices.

The SEF connectivity comes in advance of the projected February 2014 deadline for mandatory SEF trading in the U.S. The platform supports straight-through-processing and the connectivity between Calypso and Tradeweb occurs through FIX Messages. The partnership also provides trade execution via Tradeweb, trade novation through Calypso triggered by cleared messages from Tradeweb, support for Tradeweb’s request-for-quote (RFQ) system and fully disclosed order book, and allows for block trading.

“We’re excited to be among the first in the market to offer our clients this support for SEF trading and execution with Tradeweb Markets,” says Charles Marston, chairman and CEO of Calypso. “Derivatives end users look to Calypso during these times of dynamic change in the derivatives trading landscape. More than ever, financial organizations require workflow efficiency, aggregation of trading, processing and clearing on a single platform, greater compliance and risk management as they seek to adapt and benefit from the new derivatives market structure.”

“By integrating with partners like Calypso, we can continue to deliver a seamless electronic end-to-end workflow that reduces manual entry errors and increases productivity,” says Billy Hult, president of Tradeweb Markets.

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