Pierpont Derivatives Goes Live With Calypso
![otcmarkets otcmarkets](/sites/default/files/styles/landscape_750_463/public/import/IMG/229/184229/otcmarkets-580x358.JPG.webp?itok=GE3KzkzL)
Stamford, Connecticut-based broker-dealer Pierpont Derivatives has gone live with Calypso Technology's platform to support the launch of a new swaps trading business. The platform is being employed for trade pricing and capture, consolidated P&L, and risk management for interest rate swaps, futures and treasuries.
Pierpont says it selected the Calypso system based on its front-office functionality for OTC derivatives and other capital market products, as well as its central clearing capabilities and integration with swaps market participants. It wanted Calypso's core OTC derivatives valuation support and flexibility, especially as it continues to build out its proprietary models.
"Speed to market was absolutely crucial due to how quickly the swaps market is changing," says Akshay Das, managing director and head of derivatives at Pierpont. "We needed an innovative technology solution that could comprehensively support the launch of our new business─as well as allow us to enter new derivatives trading markets in the future."
The post-crisis changes in the swaps market include an industry shift in interest rates swaps pricing, including a move to Overnight Indexed Swap (OIS) discounting from LIBOR discounting. Calypso enables Pierpont to clear, directly and centrally, its interest rate swaps through its clearing broker, or futures commission merchant (FCM), on CME Clearport and the SwapClear platform of LCH.Clearnet through a MarkitWire interface.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@waterstechnology.com or view our subscription options here: http://subscriptions.waterstechnology.com/subscribe
You are currently unable to print this content. Please contact info@waterstechnology.com to find out more.
You are currently unable to copy this content. Please contact info@waterstechnology.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@waterstechnology.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@waterstechnology.com
More on Trading Tech
JP Morgan’s goal of STP in loans materializes on Versana’s platform
The accomplishment highlights the budding digitization of private credit, though it’s still a long road ahead.
As data volumes explode, expect more outages
Waters Wrap: At least for those unprepared—though preparation is no easy task—says Anthony.
This Week: ICE Bonds and MarketAxess plan to connect liquidity networks, TS Imagine, Bloomberg, and more
A summary of the latest financial technology news.
Industry associations say ECB cloud guidelines clash with EU’s Dora
Responses from industry participants on the European Central Bank’s guidelines are expected in the coming weeks.
CrowdStrike outage spurs rethink on ‘critical’ vendors
Some want US regulators to designate tech firms that pose risks to financial stability
This Week: ISI buys EPFR; Bloomberg, Warsaw Exchange, Fenergo and more
A summary of the latest financial technology news
US Supreme Court clips SEC’s wings with recent rulings
The Supreme Court made a host of decisions at the start of July that spell trouble for regulators—including the SEC.
TMX’s indexing pivot bears first fruit
The acquisition of index provider VettaFi has boosted revenues in the exchange’s analytics division, but further growth could mean taking on the heavyweight data providers like S&P, FTSE Russell, and MSCI.