Pacific Life chooses Calypso solution 02 October 2014San Fransico Reporter: Stephen Durham
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Pacific Life Insurance Company has selected the Calypso Collateral Management solution for automation and optimisation of their collateral across all business entities.
Calypso has stated that Pacific Life required “a solution to manage the anticipated increase in margin calls” resulting from the Dodd-Frank regulation on central clearing of OTC derivatives.
By implementing Calypso, Pacific Life will be replacing a legacy collateral solution and manually-intensive spreadsheet processes.
“In Calypso, we have a solution that dramatically automates our collateral process and enables greater visibility of inventory across the organization while preserving our current technology infrastructure,” said Dominic Faso, head of treasury and investment operations for Pacific Life.
“Calypso stood out as the superior solution that enables us to quickly respond to new regulatory requirements and the resulting market structure changes for listed and OTC derivatives. In addition, this is a robust platform that we can leverage in the future for more functionality.”
Charles Marston, chairman and CEO of Calypso Technology, commented: “We are delighted to be working with a leading insurance company such as Pacific Life to help deliver operational efficiencies, improved investment performance, and regulatory compliance.”
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