Renaissance Implements Calypso for Back-Office Ops

Emerging markets investment bank Renaissance Capital has implemented Calypso's back-office platform, the vendor has announced.

The software will serve as a cross-asset technology to bolster the firm's automation and processing in its operations. The first phase, completed within 12 months, covers US and global depository receipts. The second and third stages, expected to be completed by year-end, will cover foreign exchange (FX) and money markets, fixed income and repo, with additional functionality for accounting and cash management.

"The decision to upgrade our back-office operations was driven by rapidly increasing trade volumes which necessitated greater automation and coordination of back office tasks," says Adam Mitchell, CIO at Renaissance, which selected Calypso after a competitive evaluation process.