Calypso gains stake in Sernova Financial
25 July 2017 London
Image: Shutterstock
Calypso Technology has acquired a minority stake in Sernova Financial, a provider of cloud-based clearing and post-trade services.
Sernova, which already leverages the Calypso Cloud platform, recreates the shared infrastructure and service items of clearing brokers.
According to Calypso, by reducing the transaction costs and providing optimal workflows, Sernova lowers the barriers to centralised clearing for regional banks and investment managers.
“Calypso seeks to make the financial markets really work on Cloud,” said Calypso CEO Pascal Xatart.
“Our investment and partnership with Sernova Financial will broaden the markets we serve by providing the industry with a turnkey cloud-based solution to access the centralised clearing counterparties network.”
Venkatesh Ramasamy, executive chair and co-founder of Sernova, added: “Regulatory hurdles have reduced the number of clearing brokers and increased the cost of their services. Providing unrivalled cost and operational efficiency, Sernova needed to expand its product coverage to address a soaring demand.”
Sernova, which already leverages the Calypso Cloud platform, recreates the shared infrastructure and service items of clearing brokers.
According to Calypso, by reducing the transaction costs and providing optimal workflows, Sernova lowers the barriers to centralised clearing for regional banks and investment managers.
“Calypso seeks to make the financial markets really work on Cloud,” said Calypso CEO Pascal Xatart.
“Our investment and partnership with Sernova Financial will broaden the markets we serve by providing the industry with a turnkey cloud-based solution to access the centralised clearing counterparties network.”
Venkatesh Ramasamy, executive chair and co-founder of Sernova, added: “Regulatory hurdles have reduced the number of clearing brokers and increased the cost of their services. Providing unrivalled cost and operational efficiency, Sernova needed to expand its product coverage to address a soaring demand.”
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