Credit du Nord, the retail banking network owned by Societe Generale with eight regional banks across France, has selected Calypso Technology to manage its global treasury services.
Calypso will replace Credit du Nord’s multiple third party and internal systems that manage a wide range of treasury products including FX, FX options, money market, fixed income and interest rate swaps.
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Calypso’s platform will be implemented as a single end-to-end platform managing trade capture, risk management, collateral management, operations and accounting.
Calypso claims that its platform will enable the bank to comply with regulatory requirements such as EMIR for the central clearing of derivatives.
Clara Levy Barouch, CFO of Credit du Nord, said: "Calypso has been elected and will help us meet our dual objectives of systems rationalization and regulatory compliance on a single platform so that we can continue to provide and expand our leading and innovative services to our customers."
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