Chile's Comder Taps Calypso for CCP

Chilean flag
Comder's CCP was created to comply with international OTC derivatives reform, and will begin clearing non-deliverable forwards (NDFs) by the end of next year and interest rate derivatives by Q1 of 2015. Calypso's solution will power novation, affirmation, registration, initial and variation margins, as well as collateral management and trade depository services.
 
"We see Calypso as a strategic partner for one of the most important projects in the Chilean banking industry, and this initiative allows us to meet the highest standards and align with Bank for International Settlements (BIS) and International Organization for Securities Commissions (IOSCO) principles for market infrastructures," says Felipe Ledermann, CEO at Comder.
 
The agreement is the latest in Calypso's provision to global CCP providers, and the second such signing in South America following Brazil's BM&F Bovespa.

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