Ahead of the passage of MiFID II in January, the demand for compliant platforms and solutions has never been higher. Calypso Technology Inc. has teamed up with software vendor LIST to deliver its new end-to-end Enterprise Platform. The new joint solution comes in accordance with a major European bank, emphasizing a fully automated trading process.
The upcoming regulatory restraints of MiFID II will dramatically reshape the financial services industry. Implicit in this shift will be obligatory solutions and more streamlined platforms that cover the entire end-to-end process. The initiative mirrors that of other industry venues, namely Duco and NEX Optimisation, which have collectively recognized the merits and demand for automated platforms.
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Per the latest arrangement, Calypso is fusing elements of its front- and back-end platform in conjunction with LIST’s technological capabilities. Subsequently, the partnership will also bring in a European bank for delivery of the new Enterprise Platform. This will include a wide range of functions, including record keeping, monitoring and reporting obligations, as well as a metamorphosis of the voice-based, fixed income OTC business of the bank into a fully digitized workflow.
The partnership is important as it reflects a growing push towards automated workflows, namely in regard to the upcoming passage of MiFID II. The regulatory regime has served as a potent impetus for venues looking to streamline this process in a more transparent manner, with many risk management and technology providers answering the call.
Philippe Carrel, Chief Alliance Officer of Calypso, commented: “An end-to-end digitisation of the trading process is essential to risk management, compliance and cost efficiency. By integrating with the advanced solutions of our partner, LIST, Calypso delivers a uniquely integrated solution, which meets the requirements of MIFID II while leveraging the trading and risk management features of the platform, and is available on Cloud.”
“LIST is delighted to have established a partnership with a leader in capital markets software such as Calypso. Over the last three decades, we developed an unparalleled experience in delivering technology for electronic trading and compliance. We are convinced that the market today requires an even stronger end-to-end integration and this is why we believe that the integration of LIST trading and compliance capabilities to Calypso delivers significant value to the market,” explained Andrea Simonelli, co-founder and COO of LIST.