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."