Following deployment of Calypso, Pacific Life will replacing a legacy collateral solution and manually-intensive spreadsheet processes.
The life insurer was looking for a real-time, centralized collateral system to manage the anticipated increase in margin calls resulting from the Dodd-Frank regulation on central clearing of OTC derivatives.
Go deeper with GlobalData
Pacific Life picked up Calypso based on its better functionality combined with derivatives middle office capabilities, a superior and open technical architecture, and a proven, rapid implementation approach.
Pacific Life treasury and investment operations head Dominic Faso said: "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.
"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.
Calypso Technology chairman and CEO Charles Marston said: "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.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
