Moscow-based investment bank Renaissance Capital has implemented Calypso Technology’s cross-asset back-office solution for its client and proprietary operations.
The platform will be integrated into Renaissance’s existing IT landscape in several phases to provide increased automation and operational consolidation.
The platform offers seamless end-to-end processing across multiple asset classes and will replace a number of existing legacy systems.
Calypso said that it has been used at as a main back-office system at Renaissance Capital since 2014.
Calypso processes up to 500 K transactions daily across all aspects of back-office functionality including client accounting, which was fully customized for the Russian market.
Renaissance Capital chief information officer Vladimir Gibenko said: "The decision to upgrade our back-office operations was driven by rapidly increasing trade volumes which necessitated greater automation and coordination of back office tasks."
Renaissance Capital global head of operations Iraida Sergienko said: "Given Renaissance Capital’s expansion, it was vital we had a proven solution that could be easily implemented for current needs and expand to meet future growth objectives."
Calypso executive chairman Charles Marston said: "We are delighted that Renaissance Capital has successfully implemented the Calypso solution across its back-office operations globally. The emerging markets, including Russia and the CIS, are strategic for Calypso, and we continue to invest in these regions to provide solutions that package market best practices in conjunction with local conventions."