HSBC USA extends Calypso implementation

HSBC USA extends Calypso implementation

HSBC Bank USA has extended its impementation of Calypso Technology's trading and processing platform to include equity derivatives products.

The bank is already live on Calypso for credit derivatives products.

Sandeep Saksena, head of derivatives and FX IT at HSBC Bank USA, says the bank went live with the first equity derivative product within nine months of the decision.

"We expect to move all our equity derivatives business to Calypso by the end of this year," he adds.

HSBC says cost reduction was another factor in the decision, as using one system to process multiple products saves money.

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