Calypso deploys collateral management system at AIMco; partners with R3 for blockchain post trade system
Treasury and capital markets (TCM) vendor Calypso Technology has implemented its collateral management system at Alberta Investment Management Corporation (AIMco). The vendor has also joined forces with the R3 blockchain consortium to build TCM applications on R3’s Corda distributed ledger technology platform.
AIMco, one of Canada’s largest institutional investment managers, is now live with Calypso Collateral. It has also upgraded its TCM platform, also supplied by Calypso, to the latest version. AIMco and Calypso have been working together since 2010.
The vendor says AIMco “recognised that the sophistication of their collateral management operation had outgrown the capabilities of their previous system”, hence the replacement.
Michael Baker, SVP, investment operations at AIMCo, describes the collateral management revamp as “strategically and operationally significant”.
“Replacing our manual collateral management system with a centralised, automated solution has already brought substantial benefits. We have greater control over our inventory, we can optimise our collateral, and going forward we will be able to comply with the new BCBS IOSCO initial margin regulations,” he explains.
Elsewhere, Calypso has partnered with R3 to jointly build post trade solutions, built on the Corda platform. Calypso says “the two firms are currently developing a multi-party trade confirmation solution and testing it with multiple financial institutions”.
The solution will “dramatically transform existing processes, substantially increasing transparency and simplifying dispute resolution”, the vendor promises. “Counterparties will be able to see all trade tickets on the distributed ledger so they can be sure they are matching against the correct trade.”
Calypso adds it has become the first application partner to leverage the R3 platform.