Bear Stearns consolidates derivatives operations with Calypso

Bear Stearns consolidates derivatives operations with Calypso

US bank Bear Stearns is implementing software from San Francisco vendor Calypso Technology to consolidate its derivatives trading and processing operations on to a single platform.

The centralised system will handle the bank's trading and processing for credit, interest rate and equity derivatives.

Peter Cherasia, chief information officer, Bear Stearns, says: "There was a need to make changes in the business to improve efficiency. Our vision was of a derivatives operation that was streamlined from front to back and we opted to achieve this through the use of Calypso's integrated solution."

The US investment bank is joining a growing list of firms that have moved to consolidate their disparate derivatives process flows onto a single platform.

Charles Marston, chairman and CEO of Calypso Technology, says: "In rationalising its technology environment, Bear is actively addressing a problem faced by many trading organizations."

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