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Calypso Expands Latin American Presence Gaining Grupo Aval Contract

Calypso Expands Latin American Presence Gaining Grupo Aval Contract

Capital markets technology provider, Calypso Technology has announced on Friday that it has partnered with Grupo Aval to offer front-to-back solutions to two of its Colombian subsidiaries: Financial Services provider, Corficolombiana and Pension Fund, Porvenir.

The announcement detailed that with Calypso, the group companies are planning to strategically transform and scale treasury and derivatives operations. The new technology provider will provide both sell-side and buy-side requirements in one single cross-asset front to back trading and investment management solution.

Didier Bouillard, CEO of Calypso Technology, commented: “We are delighted to partner with such a prestigious organization in Latin America. We are committed to delivering a world-class, yet localized sell-side and buy-side solution. Our goal is to support Grupo Aval’s growth strategy and to enable them to receive maximum value across the group.”

Migrating to Cloud-Based Solutions

Founded in 1997, Calypso’s offerings include cross-asset solutions for trading, processing and risk management, among others. Additionally, it focuses on cloud solutions and enterprise apps, simplifying regulatory compliance.

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The company is headquartered in California but has an extensive presence in the Latin American markets with three regional offices, providing support to around 20 clients.

Aval detailed that Calypso was selected after a lengthy and detailed process as it is a part of its technology transformation.

“The growth of our investment management business in Colombia due to the immense responsibility with our customers required us to look for a new solution, that would help us rationalize and significantly enhance our processes,” Porvenir CIO, Alonso Angel said. “Calypso’s track record in the institutional business coupled with the possibility to build our business over a group-wide platform were essential to our choice.”

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Refinitiv Reports Slight Drop in FX Volumes as Year-End Lull Weighs

Refinitiv Reports Slight Drop in FX Volumes as Year-End Lull Weighs

Foreign exchange trading volumes across Refinitiv Matching and FXall platforms decreased slightly in December 2020 from the previous month, the company said on Friday.

Turnover in all products including cash, forwards, swaps, options and non-deliverable forwards were reported at $436 billion in December 2020. This figure was down 1.8 percent from $444 billion in November 2020, but reflects a 10 percent increase from $395 billion in December 2019.

The former Financial and Risk business of Thomson Reuters reported in November its best metrics since March, when turnover hit an average daily $540 billion, the highest in its volumes data going back to February 2013.

Of the December’s $436 billion figure, $84 billion was FX spot, representing a -6 percent fall over the monthly interval when compared to $89 billion in November 2020. Over a yearly basis, the spot turnover also outpaced its counterpart in December 2019, which came at $79 billion.

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London Stock Exchange to Close Refinitiv Acquisition

Activity in other transaction types, including forwards, swaps, options and non-deliverable forwards (NDFs), averaged $352 billion daily, -0.8 percent lower from $355 billion the previous month.

Refinitiv’s figures reflect the trend observed in the monthly figures from many of the major trading platforms which have seen record-breaking volumes in the first half before turning to suffer lackluster activity. However, given its position as a major trading hub for the wholesale market, the financial data vendor provides one of the most comprehensive snapshots of activity.

London Stock Exchange said earlier this week it expects to close its proposed $27 billion acquisition of Refinitiv on 29 January 2021. The news comes after the European Commission, which oversees competition policy in the 27-nation bloc, approved the all-stock deal back in December.

Under the terms of the deal, the Blackstone-led Refinitiv will own 37 percent of the combined group, while its former owner, Thomson Reuters, will be holding a 15 percent stake. It would become the biggest shareholder in the London exchange, with the right to name three directors.

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Singapore Exchange Reports Strong Financial Results in H1 FY21

Singapore Exchange Reports Strong Financial Results in H1 FY21

Singapore Exchange (SGX) reported financial results for H1 of FY21 today as revenue and net profit spiked in the last half, compared to the same period in 2020. The exchange recorded S$521 million revenue in H1 of FY21, a 9% year-on-year jump.

According to the official press release, the net profit of SGX jumped 7% in H1 of FY21 to reach S$228 million. Interim quarterly dividend per share stood at 8 cents. The announced dividend will be payable on 8 February 2021.

The performance of currencies and commodities derivatives remained exceptional as their revenue increased 18% to S$92.5 million. The overall equity revenues including equities cash and equities derivatives jumped 3% to S$350.8 million in H1 of FY21.

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Commenting on the latest financial results, Loh Boon Chye, Chief Executive Officer of SGX, said: “We had a solid first-half performance with growth across all three business segments, amid an uncertain global environment. The heightened demand for China access and risk-management solutions, coupled with the early success of our expanded pan-Asia derivative product suite and higher trading activity in our stock market, led to stronger performance in our Equities business. We have also grown our FICC and DCI pillars which now contribute a third of our revenues, bolstered by newly acquired BidFX and Scientific Beta.”

SGX’s Financial Performance

Finance Magnates earlier reported about strong financial numbers posted by the SGX in December 2020. The exchange reported an 11% jump in USD/CHN futures contracts due to growing demand. In the latest report, SGX’s adjusted earnings per share stood at 21.3 cents, compared to 20 cents in H1 of FY20.

“Strengthening our sustainability capabilities and solutions is a key priority, together with the building up of our digital assets expertise. Today, we announced our partnership with Temasek Holdings to build a digital asset infrastructure focused on capital markets workflows. In the coming months, we will expand our fixed income trading capabilities and make further investments to enhance our FX platform,” Loh added.

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