Calypso wins top Gulf bank business

Gulf banking giant Emirates NBD has signed up software provider Calypso Technology to provide its credit derivatives trading system.

The software will handle cross-asset, front-to-back trading for equity, interest rate and foreign exchange derivatives.

Emirates NBD was formed late last year by the merger of Emirates Bank and National Bank of Dubai. It is the biggest bank by assets in the Gulf Cooperation Council region.

The deal comes as the credit markets expand rapidly in the Middle East. Calyps

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