Synechron, SIX Group and Calypso have signed a deal to implement a Calypso Securities Finance Renewal program to update SIX’s post-trade services.
SIX—the operator of the Swiss Stock Exchange—selected Synechron as the systems integrator for Calypso v15 SFR (Securities Finance Renewal) which is run by Calypso. The program will be used to manage contractual tri-party activities undertaken by SIX. The project is expected to last for two years and was first launched in the first quarter of 2017.
Robert Bornträger, division chief executive officer of SIX IT, said Synechron will bring considerable experience to the project.
“Synechron is a certified Calypso partner, which gives us access to considerable expertise and concrete Calypso implementation experience,” Bornträger said. “Furthermore, Synechron is already working with Calypso in Switzerland, notably on collateral management implementation, which gives them highly relevant subject-matter expertise.”
Synechron is providing training in the technical and functional features of Calypso to SIX. Calypso will be integrated into SIX’s systems.
The company was chosen from a pool of four companies in 2016. It has more than 50 Calypso experts in Europe.
SIX itself has been embarking on a program of upgrading its technology base in recent months. In June, it announced the launch of Advanced Settlement, a post-trade infrastructure designed to automate and centralize the generation of standing settlement instructions. SIX also won the top prize of best overall data/service provider at this year’s Inside Reference Data and Inside Market Data awards.
Also: Trading Technologies is developing an OMS for the sell side and Orbital Insight is embracing a platform-as-a-service model.Subscribe to Weekly Wrap emails