Chile’s Banco Penta has licensed Calypso’s technology, enabling the bank to fully process interest rate derivatives front-to-back.
It will use the software as the foundation for what it terms an aggressive expansion in the interest rate and currency derivatives business. The system will support the main local and international products, such as cross currency swaps and interest rate swaps, in foreign currency with local benchmarks such as the CLF, the Peso, the Camara and the dólar observado rate.
Through the Calypso solution, the bank and its branches will be able to offer clients a variety of swaps and financial products. Banco Penta will consolidate its technology infrastructure by incorporating offerings currently supported by other systems into Calypso, such as FX Spot, FX Forwards, FX Swaps, local and international fixed income and inflation indexed products.