Swiss private bank Banque Pictet & Cie has selected Calypso Technology’s collateral management solution to consolidate collateral activities across its many businesses on a single platform.
The new solution will replace the previous collateral operation, which was largely manual and was incapable of scaling the business and related customer agreements.
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Calypso, a provider of capital markets software solutions, claims that the new standalone, centralized collateral management system will aggregate collateral pools from the core banking system of the bank for processing margin calls.
The new solution will also help the lender comply by new regulations which requires initial margin for listed as well as OTC contracts.
Calypso said that it met the functional standards and showcased an ability to interface to Pictet’s core banking system and key downstream systems including AcadiaSoft for margin call confirmations and messaging for collateral pledges.
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