The Royal Bank of Scotland (RBS) Financial Markets has selected technology from San Francisco-based vendor Calypso for operations processing at its capital markets division.
RBS Financial Markets says the Calypso system will be integrated with its existing technical architecture and provide support for fixed income trading.
David Hefford, global head of risk and operations technology, RBS Financial Markets, says the bank was looking for an out-of-the-box trading system that would enable it to develop functionality using a toolkit.
"This will enable us to support any business expansion and improve STP in a cost effective manner," he adds.
The project is planned to go live in the second half of 2003. Calypso says it will eventually process the full range of capital markets products the bank trades, from gilts and euro-government bonds to high-yield.