Texas-based Frost Bank (Frost) has implemented the Calypso software solution to support the firm’s growing financial derivatives business, announced Calypso Technology.
Installation of the Calypso solution to support interest rate derivatives processing was completed in less than four months, according to the release. Future plans include extending the system to manage the trading and processing of various instruments including commodities and foreign exchange, front-to-back office. The Calypso system, a front-to-back office system for treasury and derivatives, will enable Frost to reduce operational risk and improve efficiency through increased process automation, streamlined end-of-day processing and consolidated risk reporting, the company said. This will allow Frost to expand their product offering and build market share across its broad range of sophisticated financial services. Frost is primarily engaged in the business of commercial and consumer banking through more than 115 financial centers across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio regions. “Frost selected Calypso after a careful evaluation based on its scalable, multi-asset platform and successful software implementations with other Calypso customers,” commented Kyle Woodland, Frost Capital Markets in today's release. “Furthermore, Calypso’s fast-track solution for implementation allowed us to quickly install the Calypso software on time and keep expenses within our budget.” Commenting on the speed of deployment, Charles Marston, CEO of Calypso Technology. "This implementation is further testament to the functionality and scalability of our system to meet the growth and efficiency objectives for a wide range of financial institutions from regional banks to global money center operations.” Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio