HSBC USA adopts Calypso for equity derivatives

"We expect to move all our equity derivatives business to Calypso by the end of this year," said Sandeep Saksena, head of derivatives and foreign exchange IT at HSBC Bank USA.

HSBC already uses the San Francisco-based technology provider’s platform for credit derivatives trading. Saksena added that cost reduction was another factor in deciding to expand the use of Calypso. "Using one system to process multiple products saves us money. Our support costs are reduced, and our team can focus on more value-added activities," he said.

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