CHILE: COMDER Selects Calypso to Power New Chilean OTC Derivatives CCP

Tuesday July 23 2013

Calypso Technology, Inc., the leading integrated capital markets software provider, today announced that COMDER Central Counterparty has selected Calypso to provide the core clearing platform for a new central counterparty (CCP) for OTC derivatives created by a consortium of Chilean banks.

n response to G-20 mandated OTC derivatives reforms and standardization, a group of Chilean banks led by COMDER is building a new OTC derivatives CCP. This new CCP will begin clearing non-deliverable forwards (NDFs) in Q4 2014 and interest rate derivatives (IRD) in Q1 2015. The CCP will be powered by Calypso for novation, affirmation, registration, limits, initial and variation margins, collateral management, default management and trade repository.

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