Erste Bank Group, Central and Eastern Europe’s financial services company, has selected Calypso as its front-to-back, group-wide application for interest rate, FX and credit derivatives.
“We felt it was time to move to a system that would provide us with a simplified way to trade the exotic products we are using,” says Herbert Juranek, Head of Group IT of Erste Bank. “Our decision to use Calypso is based on its ability to support our business now as well as a strategic approach to expanding our derivatives activity in the future. We will be leveraging Calypso’s highly extendable platform to gain competitive advantages.”
“Derivatives trading and processing are key areas of strength for Calypso, and we welcome the opportunity to become a strategic partner for Erste Bank and look forward to supporting their business development plans”, says Charles Marston, CEO of Calypso Technology. “Erste Bank’s selection of Calypso is another step in the substantial increase in our German, Austrian and also Central and Eastern Europe client base; and we have expanded our presence in Germany significantly to meet this demand.”