Press release
Israel Discount Bank (IDB) Goes Live on Adenza’s Calypso with Enhanced Front-office, Middle-office and Collateral Management Functionality
Adenza, formed by the merger of Calypso Technology and AxiomSL, today announced that Israel Discount Bank (IDB), one of the largest commercial banks in
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[{"type":"text","content":"Adenza, formed by the merger of Calypso Technology and AxiomSL, today announced that Israel Discount Bank (IDB), one of the largest commercial banks in Israel, has gone live on Calypso with enhanced front-office, middle-office and collateral management functionality.\n The bank made the decision to consolidate its previous landscape of legacy and in-house solutions onto Adenza’s Calypso single, cross-asset platform earlier this year, with the view of enhancing its front-to-back operational and risk management functions, including trading, real-time position keeping and straight-through-processing.\n The first phase of the project has been completed, covering counterparty credit risk and collateral management functionality. Subsequent phases of the project will extend product coverage and functional scope, expanding front-to-back functionality by asset class including interest rate derivative and inflation products, money market, bonds, futures, FX and FXO, and cash management.\n With Calypso, IDB will be able to automate critical risk functions and seamlessly integrate data from across the organization to deliver a real-time, global view of counterparty positions and exposures across all trading and banking books.\n Calypso has given us a springboard to compete for new business in both the local and global market, and allows us to respond to new compliance requirements with ease. Adenza’s expertise within the Israeli market has really helped to drive a successful project.\n - Asaf Pasternak, Head of Capital Markets, IDB.\n From a technical perspective, Calypso addresses the expectations and demands of our end users. We will continue to expand and integrate additional coverage over the coming months, taking advantage of Calypso’s true front-to-back functionality.\n - Adi Kaplan, Head of IT Division, IDB.\n The reduction in the number of systems helps to bring us into a new technical future. Additionally, the speed of implementation – thanks to the use of Springboot in v17 of Calypso – and the spirit of teamwork we’ve experienced working with Adenza Customer Delivery have been a great advantage.\n - Haim Hosman, Calypso Project Manager, IDB.\n IDB are the first greenfield front-to-back client to go live on the latest version of Calypso, v17, providing them with a strong platform for future growth. With Calypso, they will be able t...