Banque Pictet & Cie SA Live on Calypso for Collateral Management
Switzerland’s Leading Private Bank and Asset Manager to Improve Operational Efficiency and Meet OTC Regulations with Calypso’s Standalone Collateral Solution
Calypso Technology, Inc., a leader in Capital Markets software solutions, announced today that Banque Pictet & Cie SA, headquartered in Geneva, has gone into production with the Calypso collateral management solution to consolidate all collateral activities across its many businesses on a single platform. In doing so, the bank has implemented a standalone, centralized collateral management system aggregating collateral pools from the bank’s core banking system for processing margin calls. Calypso will be used to manage internal as well as client collateral.
As a leading European independent wealth and asset manager with assets under management or in custody totaling CHF 435 bn in December 2014 (EUR 361 bn, USD 437 bn), Pictet’s customers include institutional asset managers, funds, family offices and other banks. The previous collateral operation was largely manual and unable to scale with the growing business and associated customer agreements. Furthermore, the bank needed to meet new regulations requiring initial margin for both listed and OTC contracts. Calypso met the functional requirements and demonstrated an outstanding ability to interface to Pictet’s core banking system and key downstream systems such as AcadiaSoft for margin call confirmations and messaging for collateral pledges.