SGX Launches Central Clearing Service via Calypso for Interest Rate Swaps

his is the first OTC financial derivatives central counterparty clearing service in Asia.

Singapore Exchange Limited (SGX) successfully launched its interest rate swaps (IRS) central counterparty (CCP) clearing service on November 15th using the Calypso software solution.

This is the first OTC financial derivatives central clearing service in Asia, according to a press statement from Calypso, the global software provider of trading, risk and processing platforms to financial institutions, clearinghouses and corporate treasuries.

In a statement, Charles Marston, chairman and CEO of Calypso Technology, said, “The partnership with SGX, a respected and innovative exchange, further underscores our deepening expertise in OTC derivatives central clearing. Through our work with SGX and other global exchanges, we continue to help bring central clearing services to financial markets around the world. We are delighted to be working with SGX and to be further expanding our presence in the APAC region.”

In the same release, Muthukrishnan Ramaswami, president of SGX, added: “We are pleased with Calypso Technology’s support; their active involvement in the project implementation saw the successful completion of this new service. We look forward to enhancing our relationship with Calypso Technology over the long term.”

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